Dhaka: Dhaka Chamber of Commerce and Industry (DCCI) today urged China to provide necessary support to boost skills and technology capacity of the country’s entrepreneurs. The chamber made the call at a bilateral trade discussion between DCCI President Taskeen Ahmed and Ambassador of China to Bangladesh Yao Wen at the Embassy of China in the city, said a press release.
According to Bangladesh Sangbad Sangstha, during the meeting, Taskeen Ahmed mentioned that the total bilateral trade between Bangladesh and China stood at US$ 17.35 billion in FY2024, with Bangladesh’s imports and exports amounting to $16.64 billion and $715.38 million respectively. He stated that continued sustainable socio-economic development of Bangladesh and harnessing the opportunities of LDC graduation will largely depend on the strengthening of bilateral economic partnership between the two countries.
Dhaka Chamber President noted that China is Bangladesh’s largest import partner, with cooperation in infrastructure, energy and power, education, and human resource development. He called for China’s comprehensive cooperation in sectors such as agriculture, ICT, renewable energy, and more. He also urged for support in developing the skills and technological advancement of Bangladeshi entrepreneurs.
Ambassador Yao Wen informed that since last year, over 20 new Chinese companies in the RMG and textile sectors have committed nearly $800 million investment in Bangladesh, which will help boost the country’s exports. He noted Chinese entrepreneurs’ interest in investing in the Electronic Vehicle sector in Bangladesh but pointed out that high tariffs and lack of supportive policies are hindering investments.
The Ambassador expressed hope that the Bangladesh Government will address these issues and urged DCCI to take initiatives. He mentioned that 85% of Bangladesh’s total exports come from the ready-made garment sector, which is not sustainable in the long run. He stressed the need for diversification of Bangladesh’s export basket and encouraged seeking China’s technological cooperation.