FBCCI calls for joint initiatives to address Bangladesh-China trade deficit

FBCCI Administrator Md Fazlul Hoque made the call at a meeting with a Chinese business delegation from the China Council for the Promotion of International Trade (CCPIT) at the FBCCI office in the capital’s Motijheel on Monday afternoon, said a press release.

In his welcome remarks, Fazlul Hoque said Bangladesh, like many other countries around the world, imports a large volume of goods from China.

"Although bilateral trade between the two countries is currently close to USD$20 billion, Bangladesh has a huge trade deficit with China. Bangladesh exports goods worth less than $1 billion to China annually," he said.

He urged the business communities of both countries to explore potential sectors for expanding bilateral trade and investment.

The FBCCI administrator said the visit of the Chinese business delegation would not only help expand bilateral trade between Bangladesh and China but also create greater opportunities for Bangladeshi products in the Chinese market.

At the same time, he said, the visit could play an important role in increasing investment between the two countries.

Fazlul Hoque assured the Chinese delegation that FBCCI would remain active in extending all-round support to Chinese entrepreneurs interested in doing business in Bangladesh.

During the open discussion, Bangladeshi business representatives invited Chinese entrepreneurs to explore joint investment opportunities in a number of 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 increasing bilateral trade and investment between Bangladesh and China.

NBR eases process for solar panel, equipment import

"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.

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 different chambers and associations, and other members of the CCPIT delegation attended the meeting.