Trade with China to be normal within 3 days: FBCCI

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President of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) Sheikh Fazle Fahim on Saturday hoped that trade with China can be normal from Monday.

"We import maximum recycleables for different sectors, especially RMG and electronics, from China. But our trade has suffered setback over the last one month following the outbreak of coronavirus. Chinese exporters have told us that the problem will go back to normalcy from February 24," Fahim told a press conference at FBCCI auditorium in the capital.

The FBCCI president said the trade volume between China and Bangladesh was around $14.68 billion dollars in 2018-19 fiscal year. Of these, import trade was $13.86 billion dollars while export $831 million dollars.

"Bangladesh imports 60 percent raw materials for woven sector and 15-20 percent for knit sector of RMG from China. Around 80 percent of value chain of our economy was stopped in the last one month and shipments were very few following a virus outbreak," he added.

The FBCCI chief added that 6.72 lakh tonnes products originated from China in January this season however the amount was 8.51 lakh tonnes through the corresponding period in 2019.

Fahim said they will hold a meeting with Prime Minister Sheikh Hasina on February 25 in this regard plus they are touching the ministries concerned and other business bodies.

They want some support from the federal government in addition to banks for keeping businesses normal, he added.
Source: https://www.thedailystar.net

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