The bilateral trade between Bangladesh and China, which amounted to $12.4 billion in 2017-2018, is expected to reach $18 billion mark by 2021, economists said.
President of Dhaka Chamber of Commerce and Industry (DCCI) Osama Taseer said it when Ambassador of China to Bangladesh Zhang Zuo visited the DCCI auditorium in the capital on Saturday.
According to a press release, Taseer said Bangladesh’s “Look East” Policy is essentially designed to open up new avenues of cooperation with China and the ASEAN region urging Chinese FDI in “RMG product diversification” and allied transfer of technology.
He also urged the world’s second largest economy for quick implementation of duty free, quota free market access to Bangladesh.
Zhang Zuo said China has recently passed the new foreign investment law which is more open and flexible for foreign investors. In 2017-18 Chinas’s FDI to Bangladesh increased and China has invested more in Bangladesh than any other countries.
China is one of the largest partners in mega infrastructure projects in Bangladesh, said Zao adding that about 200 large Chinese companies and 200 Chinese SMEs are in operation in Bangladesh.
He also looks Bangladesh’s vast potentials in fields of blue and coastal economy.
The Chinese Ambassador invited DCCI members to attend the Shanghai Import and Export Fair 2019 in November.
DCCI’s Senior Vice President Waqar Ahmad Choudhury, Vice President Imran Ahmed, Directors Andaleeb Hasan, Alhaj Deen Mohammed, Enamul Haque Patwary, Hossain A Sikder, Engr. Md. Al Amin, Mohammad Bashiruddin, Nuher L. Khan, Shams Mahmud and S.M. Zillur Rahman were present there.