Chinese entrepreneurs urged to invest more in Bangladesh

Staff Correspondent

26 March, 2019 12:00 AM printer

Dhaka Chamber of Commerce and Industry (DCCI) on Monday urged Chinese entrepreneurs to come up with investment in Bangladesh’s machineries manufacturing sector.

DCCI made the call as an 11-member delegation from Yunnan Province met with its President Osama Taseer at DCCI, said a press release.

Mentioning Yunnan Province as one of the largest machineries manufacturers in China, Osama Taseer invited entrepreneurs of this sector to invest in Bangladesh.

“Technology transfer and skill development will help Bangladesh to make diversification in its promising sectors,” he added.

The DCCI President also noted Yunnan has its high level expertise in flower production and Bangladesh is also doing well in variety of flower production.

Terming China as the largest trading partner of Bangladesh, he said, “Bangladesh’s ‘Look East’ policy is essentially designed to open up new avenues of cooperation with China and the ASEAN.”

He observed electrical and electronics, agriculture, tourism, flower, medicine, connectivity and maritime can be some of the potential sectors for joint ventures.

In fiscal 2017-18, the bilateral trade between Bangladesh and China was $ 12.401 billion. During the fiscal, Bangladesh imported $ 11,706 million while exported to China about $ 694.97 million.

Leader of the Chinese delegation and Deputy Director, Foreign Trade Division, Department of Commerce, Yunnan Province Yuan Lin said Yunnan is the fourth largest machineries manufacturer province in China and they are interested to invest in Bangladesh.

Moreover coffee, tobacco, rubber and flower are being produced in plenty in Yunnan, he added and requested Bangladeshi importers to consider Yunnan while importing these products.

Lin said although Bangladesh and Yunnan geographically are very close, but the bilateral trade volume Yunnan and Bangladesh is not at the expected level. He urged the businessmen of both the region to work for increasing bilateral trade.