Dhaka: The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade organization in Bangladesh, has called for direct engagement between the business communities of Bangladesh and China, alongside exploring joint investment opportunities, to address the trade imbalance existing between the two nations.
According to Bangladesh Sangbad Sangstha, FBCCI Administrator Md Fazlul Hoque made this appeal during a meeting with a Chinese business delegation from the China Council for the Promotion of International Trade (CCPIT) at the FBCCI's Motijheel office. In his welcoming remarks, Fazlul Hoque highlighted that Bangladesh, like many countries, imports a significant quantity of goods from China. Despite the bilateral trade volume nearing US$20 billion, Bangladesh's exports to China remain below US$1 billion annually, creating a substantial trade deficit.
Fazlul Hoque urged both nations' business communities to identify potential sectors for expanding trade and investment and emphasized that the Chinese delegation's visit could enhance market opportunities for Bangladeshi products in China. He also noted that the visit could significantly boost investment flows between Bangladesh and China.
The FBCCI administrator assured the Chinese delegation of the organization's commitment to providing comprehensive support to Chinese businesses interested in entering the Bangladeshi market. During the open discussion session, Bangladeshi business representatives invited Chinese investors to explore joint ventures in promising sectors such as food processing, medical devices, pharmaceuticals, renewable energy, and jute products.
He Tao, Director of the Bureau of Commerce of China's Honghe region, expressed China's intent to increase bilateral trade and investment with Bangladesh. He emphasized the goal of streamlining the import-export process to unlock new business opportunities between the two countries.
The meeting was attended by former FBCCI directors Abdul Haque, Priti Chakraborty, Obaidur Rahman, FBCCI Secretary General Md Alamgir, and other notable members from both the FBCCI and CCPIT delegations.