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China, BD firms sign $13.6bn deals

  • Published at 02:02 am October 15th, 2016
China, BD firms sign $13.6bn deals
Business people from the two countries signed the agreements at Bangladesh-China Business Forum  in Dhaka yesterday. The Forum was organised on the occasion of Chinese President Xi Jinping’s official visit to Bangladesh. Of the 13 Chinese companies, two-thirds are state-owned while the rest are from the private sector. On the other hand, 11 companies of the Bangladesh side are from the private sector. The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and China Council for the Promotion of International Trade (CCPIT) jointly organised the forum. During the signing ceremony, Commerce Minister Tofail Ahmed, FBCCI President Abdul Matlub Ahmed and CCPIT Vice-Chairman Chen Zhou were present among others. “I do believe that the Chinese president will offer $1 billion investment,” FBCCI President Matlub said. Chen Zhou said: “China and Bangladesh are close neighbours and major trade partner in South Asia. We will continue the cooperation in future.” He said that the Chinese investors were interested to invest in manufacturing sector such as textile, spare parts and accessories. “If the Bangladesh, China, India and Myanmar (BCIM) Economic Corridor is established, the trade and commerce of the two nations will see better future,” Tofail Ahsaid. In July-August period, Bangladesh export to China has seen a 25% rise compared to the same period a year ago. “Total export to China will increase to $2 billion by the next two to three years,” Tofail said. “I have already signed an agreement with the Chinese government on feasibility study of Free Trade Agreement (FTA), which will help materialise the home of $2 billion export,” the minister added. In the last fiscal, Bangladesh earned $808m from exporting goods to China, of which $341m came from the RMG sector. Bangladesh imported products worth $9.64bn during the same period.