The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has called for stronger business-to-business engagement and joint investment with China to reduce Bangladesh’s widening trade deficit.
The call was made on 17 August at a meeting between FBCCI and a Chinese business delegation from the China Council for the Promotion of International Trade (CCPIT) at the FBCCI office in Motijheel.
FBCCI Administrator Md Fazlul Hoque said bilateral trade between Bangladesh and China is now close to $20 billion, while Bangladesh’s annual exports to China remain below $1 billion, leaving the country with a substantial trade deficit.
He urged businesses from both countries to explore joint ventures, investment partnerships and new export opportunities to increase the presence of Bangladeshi products in the Chinese market.
Bangladeshi business leaders invited Chinese investors to explore opportunities in several promising sectors, including food processing, medical devices and accessories, pharmaceuticals and active pharmaceutical ingredients (API), renewable energy, and jute and jute-based products.
FBCCI assured the Chinese delegation that it would provide necessary support to Chinese entrepreneurs interested in investing and operating in Bangladesh.
He Tao, Director of the Bureau of Commerce of China’s Honghe region, expressed interest in expanding bilateral trade and investment. He said facilitating import-export processes between the two countries would be important for unlocking new business opportunities.
The meeting brought together FBCCI representatives, business leaders from various chambers and associations, and members of the CCPIT delegation to discuss ways to strengthen Bangladesh-China trade, investment and business cooperation.
