The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has called for greater engagement between Bangladeshi and Chinese business communities and increased joint investment to help reduce Bangladesh’s trade deficit with China.
FBCCI Administrator Md Fazlul Hoque made the call during a meeting with a Chinese business delegation from the China Council for the Promotion of International Trade (CCPIT) at the FBCCI office in Motijheel on Tuesday.
In his welcome remarks, Fazlul Hoque said Bangladesh, like many other countries, imports a large volume of goods from China.
“Although bilateral trade between the two countries is currently close to US$20 billion, Bangladesh has a huge trade deficit with China. Bangladesh exports goods worth less than US$1 billion to China annually,” he said.
He urged businesses from both countries to explore potential sectors for expanding bilateral trade and investment.
The FBCCI administrator said the visit by the Chinese delegation could help increase bilateral trade, create greater market opportunities for Bangladeshi products in China and attract more Chinese investment to Bangladesh.
He assured the delegation that the FBCCI would provide all necessary support to Chinese entrepreneurs interested in investing and doing business in Bangladesh.
During the discussion, Bangladeshi business representatives invited Chinese entrepreneurs to explore joint investment opportunities in several promising sectors, including food processing, medical devices and accessories, pharmaceuticals and active pharmaceutical ingredients (API), renewable energy, and jute and jute products.
Director of the Bureau of Commerce of China’s Honghe region He Tao expressed interest in expanding trade and investment between Bangladesh and China.
“One of our key objectives is to further facilitate the import-export process between the two countries and unlock new opportunities for business and trade,” he said.
The meeting was attended by former FBCCI directors Abdul Haque, Priti Chakraborty and Obaidur Rahman, FBCCI Secretary General Md Alamgir, FBCCI Safety Council Adviser Brigadier General (retd) Abu Nayem Md Shahidullah, members of the FBCCI General Council, leaders of various chambers and associations, and members of the CCPIT delegation.
