China will facilitate more investment in Bangladesh

Chinese Ambassador to Bangladesh Zhang Zuo yesterday said China would facilitate Chinese companies and SMEs to come to Bangladesh with more investments.
“The Embassy of China in Bangladesh will work closely with DCCI (Dhaka Chamber of Commerce & Industry) to facilitate business together and to make innovations together. It will support DCCI as a bridge for communication with private industries,” he said.
The Chinese ambassador said this when he met DCCI President Osama Taseer at the DCCI yesterday. Commercial Counselor of the Chinese Embassy Lv Yang was present, said a DCCI press release.
Mentioning that Bangladesh has immense potentials in blue and coastal economy, Zhang said China has recently passed the new foreign investment law which is more open and flexible for foreign investors.

He said the ‘One Belt, One Road’ initiative of China is continuing for a high quality communication mode while China is very positive about China-Bangladesh business cooperation. “In 2017-18 China’s FDI to Bangladesh increased and China has invested more in Bangladesh than any other country,” he said.

In mega infrastructure projects, Zhang said China is the biggest in South Asian region while China is one of the largest partners in mega infrastructure projects in Bangladesh. He also said about 200 large Chinese companies and 200 Chinese SMEs are in operation in Bangladesh.

Chinese companies are optimistic about the China-Bangladesh business cooperation in next decade. He also invited DCCI members to participate in the Shanghai Import and Export Fair 2019 in Shanghai in November next.

DCCI President Osama Taseer said China is now the largest trading partner of Bangladesh and the country by and large exports frozen and live fish, leather and leather goods, vegetables, textile fibres, paper yarn and woven fabrics, articles of apparel and clothing, electrical machinery and equipment and furniture to China.

The bilateral trade between China and Bangladesh in fiscal year 2017-18 was US$12.40 billion. According to the economists, this bilateral trade volume may reach US$18 billion by 2021, he said.

The DCCI President said Bangladesh’s ‘Look East’ policy is essentially designed to open up new avenues of cooperation with China and the ASEAN region.

Taseer sought Chinese FDI for “RMG product diversification” and allied technology transfer. He also urged for quick implementation of duty free, quota free market access to Bangladesh.

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 also present on the occasion.
Source: http://www.dailyindustry.news

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