Bilateral trade between Bangladesh and China to reach $18 billion by 2021, the minister said
Industries Minister Nurul Majid Mahmud Humayun has said strategically important Payra Deep Seaport will turn Bangladesh into a major regional trade hub.
The minister said China continues to provide invaluable support to Bangladesh’s economic development through technical and financial assistance in diverse sectors.
He made the remarks while addressing a program in Dhaka on Monday.
Textiles and Jute Minister Golam Dastagir Gazi, NBR Chairman Md Mosharraf Hossain Bhuiyan, and Economic and Commercial Counselor, Embassy of the People’s Republic of China in Bangladesh Liu Zhenhua also spoke at the function with Bangladesh China Chamber of Commerce and Industry (BCCCI) President Gazi Golam Murtoza in the chair.
"Currently, our bilateral relations in terms of trade and investment are so strong that it has surpassed all the previous records," Humayun said terming China one of the major development partners of Bangladesh.
He said China is now the largest source of import for Bangladesh, making the country China’s third largest export destination in South Asia.
The bilateral trade between Bangladesh and China, which amounted to $12.4 billion in 2017-2018, is expected to reach $18 billion by 2021, Humayun added.
He mentioned that China's US $38 billion investment in Bangladesh, in combination with US $24.45 billion in bilateral assistance for infrastructure projects and US $13.6 billion in joint ventures, has created a new era of strategic partnership between the two countries.
The industries minister said the current Awami League government under the pragmatic leadership of Prime Minister Sheikh Hasina has taken numerous initiatives to further boost the thriving economy and promote international trade and investment.
“We’re building a deep seaport, assigning new Economic Zones, constructing power plants and rapidly upgrading our infrastructures to facilitate our industries and to attract foreign investors. Our first-ever Nuclear Power Plant at Rooppur is in progress. We’re revamping our highways and the Padma Bridge construction work is near to finish soon,” he further said.
Humayun added that the consecutive visit of the prime minister to China in 2010 and 2014 had elevated the relationship to “Closer Comprehensive Partnership of Cooperation”.
He said China's President Xi Jinping's landmark visit to Bangladesh in October 2016, marked the beginning of a new horizon and a new historical starting point of Bangladesh-China relations.
The minister said the BCCCI has been working proactively for the betterment of bilateral trade and has been providing commendable support to the investors of both the countries.