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Financial Express :: Financial Newspaper of Bangladesh
FE Report
Government officials and businesses Tuesday urged the Chinese government to build infrastructure in the neighbouring countries for relocating its export-oriented industries so that they can export those basic items to other countries with duty-free privilege.
Bangladesh representatives also asked them to reduce the present trade gaps between the two countries by increasing China's effort to raise import from this country. The government representatives on the other hand pledged to increase investment and import volume from Bangladesh.
They were speaking at a function of 'Promotion of the 1st China-South Asia Exposition' jointly organised by the People's Government of Yunan Province, PR China and Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). The event will be held from 6 to 10 June this year.
The State Council of China has recently approved to upgrade the China-South Asian Countries Trade Fair to the China-South Asia Exposition since 2013.
China has been recently shifting its industries from producing basic export items to more knowledge-based industries. Besides, the wage of Chinese labour has significantly risen in recent years compelling many Western buyers to procure items from other countries.
Gao Shuxun, vice governor of Yunan Province was present as the chief guest with FBCCI president Kazi Akramuddin Ahmed, Chinese ambassador to Bangladesh Li Jun, vice chairman of Export Promotion Bureau (EPB) Shubhashish Bose present as the special guests.
In his address Akramuddin Ahmed said Bangladesh will participate in the exhibition for its own interest while China has to invest in our country in infrastructure at a cheaper rate for its interest as Bangladesh has 55 million semi-skilled people whom China can employ in its relocated industries.
China imports frozen foods, jute goods, leather and agricultural products, woven garments from Bangladesh and exports textiles and textile articles, machineries and mechanical appliances, base metals and vehicles to Bangladesh.
"In that respect, you can use our frozen food and jute goods factory here. You can enhance export from by putting export oriented industries in Bangladesh as we enjoy duty-free access to the developed countries," said the FBCCI president.
Akramuddin mentioned that though the bilateral trade volume has been growing significantly, the export figure from Bangladesh to China is rather embarrassing.
"Last Year bilateral trade between the two countries was US$ 6.8 billion where import from China was worth $6.39 billion and export to China was only $ 401 million," he said.
Referring to the last year exhibition in Kunming where he attended, Shubhashish Bose said there was a reflection of the participants last year that indicated China should develop infrastructure in neighboring countries.
He said Chinese government has already offered to develop permanent exhibition ground in Bangladesh for which the government has selected 10 acres of land.
"Chinese delegation will visit the site and there will be a feasibility study. After the study Chinese government will announce the financing," he said.
Mr Bose mentioned the intra-trade among the SAARC countries is 5.0 per cent of the total export volume.
Chinese vice governor Gao Shuxun said the successful holding of the exposition will strengthen the economic, trade, cultural and academic ties between China and South Asia, including Bangladesh and around the Indian Ocean.
He hoped to build a bigger platform for a win-win cooperation and development.
"As the theme country of the 1st China-South Asia Exposition, Bangladesh is fully capable of playing an important role in making the expo a great success," he said.
Chinese ambassador said both Bangladesh and China have a same focus of graduating to a more advanced stage economically by 2020 for which Bangladesh will turn into an industrial country.
"China will increase investment and import from Bangladesh," he said.
FE Report
Government officials and businesses Tuesday urged the Chinese government to build infrastructure in the neighbouring countries for relocating its export-oriented industries so that they can export those basic items to other countries with duty-free privilege.
Bangladesh representatives also asked them to reduce the present trade gaps between the two countries by increasing China's effort to raise import from this country. The government representatives on the other hand pledged to increase investment and import volume from Bangladesh.
They were speaking at a function of 'Promotion of the 1st China-South Asia Exposition' jointly organised by the People's Government of Yunan Province, PR China and Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). The event will be held from 6 to 10 June this year.
The State Council of China has recently approved to upgrade the China-South Asian Countries Trade Fair to the China-South Asia Exposition since 2013.
China has been recently shifting its industries from producing basic export items to more knowledge-based industries. Besides, the wage of Chinese labour has significantly risen in recent years compelling many Western buyers to procure items from other countries.
Gao Shuxun, vice governor of Yunan Province was present as the chief guest with FBCCI president Kazi Akramuddin Ahmed, Chinese ambassador to Bangladesh Li Jun, vice chairman of Export Promotion Bureau (EPB) Shubhashish Bose present as the special guests.
In his address Akramuddin Ahmed said Bangladesh will participate in the exhibition for its own interest while China has to invest in our country in infrastructure at a cheaper rate for its interest as Bangladesh has 55 million semi-skilled people whom China can employ in its relocated industries.
China imports frozen foods, jute goods, leather and agricultural products, woven garments from Bangladesh and exports textiles and textile articles, machineries and mechanical appliances, base metals and vehicles to Bangladesh.
"In that respect, you can use our frozen food and jute goods factory here. You can enhance export from by putting export oriented industries in Bangladesh as we enjoy duty-free access to the developed countries," said the FBCCI president.
Akramuddin mentioned that though the bilateral trade volume has been growing significantly, the export figure from Bangladesh to China is rather embarrassing.
"Last Year bilateral trade between the two countries was US$ 6.8 billion where import from China was worth $6.39 billion and export to China was only $ 401 million," he said.
Referring to the last year exhibition in Kunming where he attended, Shubhashish Bose said there was a reflection of the participants last year that indicated China should develop infrastructure in neighboring countries.
He said Chinese government has already offered to develop permanent exhibition ground in Bangladesh for which the government has selected 10 acres of land.
"Chinese delegation will visit the site and there will be a feasibility study. After the study Chinese government will announce the financing," he said.
Mr Bose mentioned the intra-trade among the SAARC countries is 5.0 per cent of the total export volume.
Chinese vice governor Gao Shuxun said the successful holding of the exposition will strengthen the economic, trade, cultural and academic ties between China and South Asia, including Bangladesh and around the Indian Ocean.
He hoped to build a bigger platform for a win-win cooperation and development.
"As the theme country of the 1st China-South Asia Exposition, Bangladesh is fully capable of playing an important role in making the expo a great success," he said.
Chinese ambassador said both Bangladesh and China have a same focus of graduating to a more advanced stage economically by 2020 for which Bangladesh will turn into an industrial country.
"China will increase investment and import from Bangladesh," he said.
