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DCCI urges Chinese Investment in agro-processing and modern technology assistance
An interactive business meeting between Dhaka Chamber of Commerce & Industry (DCCI) and visiting 11-member Chinese trade delegation held on 09 September, 2019 at DCCI. DCCI also hosted an effective B2B matchmaking between the visiting Chinese trade team and their Bangladeshi counterparts with a view to boost bilateral trade. Mr. Zhao Yanqing, Chairman of Liaoning Federation of Industry and Commerce led the Chinese delegation. Acting President of DCCI Waqar Ahmad Choudhury chaired this bilateral business talk.
DCCI's Acting President Waqar Ahmad Choudhury said China is the largest trading partner of Bangladesh. During 2017-18, bilateral trade of Bangladesh and China was about USD12.40 billion which is 13.85 percent of the total trade of Bangladesh, he said. But the trade deficit with China reached to USD11 billion in 2017-18. Despite, it is encouraging that the investment synergy between Bangladesh and China is expanding. FDI inflow from China to Bangladesh reached to USD1.03 billion largely in power, apparel and financial sector, he informed. He also said that agro-processing offers immense investment opportunities for Chinese investors as this sector is the 2nd largest export sector of Bangladesh. Moreover DCCI Acting President invited the Chinese investors to invest in high-end apparel, backward linkage of pharmaceuticals, leather and footwear, electronics and automobile sector in Bangladesh.
Zhao Yanqing, Chairman of Liaoning Federation of Industry and Commerce said that Liaoning province is situated in the north-east side of China which is near to Korea, Japan and Mongolia. He invited Bangladeshi investors to invest in Liaoning province to tap the export market of Korea, Japan and Mongolia. Liaoning province is rich in mineral resources like nickel, iron and magnesium. He said Bangladesh and Liaoning province is similar in size and the province is developed in terms of infrastructure and industrial base.
DCCI Vice President Imran Ahmed offered vote of thanks and said that China can play a vital role in developing South Asian regional trade and investment.
DCCI Directors Enamul Haque Patwary and SM Zillur Rahman and entrepreneurs from different organizations took part in this business meeting. Representatives from eight companies sat with the Chinese delegation for a B2B. A Memorandum of Understanding (MoU) was also signed between DCCI and Liaoning Federation of Industry and Commerce.
Published on: 2019-09-02