• Saturday, Sep 21, 2019
  • Last Update : 02:29 am

DCCI urges Chinese investment in agro-processing industry

  • Published at 12:09 am September 10th, 2019
Acting DCCI president Waqar Choudhury speaks at a networking session with a visiting delegation from Liaoning Federation of Industry and Commerce at DCCI office COURTESY
Acting DCCI president Waqar Choudhury speaks at a networking session with a visiting delegation from Liaoning Federation of Industry and Commerce at DCCI office Courtesy

DCCI also hosted an B2B matchmaking between the visiting Chinese trade team and their Bangladeshi counterparts with a view to boost bilateral trade

A business meeting between Dhaka Chamber of Commerce & Industry (DCCI) and a visiting 11-member Chinese trade delegation was held at DCCI office yesterday, where the latter was urged to invest in the country's agro-processing industry.

DCCI also hosted an B2B matchmaking between the visiting Chinese trade team and their Bangladeshi counterparts with a view to boost bilateral trade, said a press release.

Zhao Yanqing, chairman of Liaoning Federation of Industry and Commerce led the Chinese delegation.

Acting President of DCCI Waqar Ahmad Choudhury chaired this bilateral business talks.

Waqar Ahmad Choudhury said China is the largest trading partner of Bangladesh. During 2017-18, bilateral trade of Bangladesh and China was about $12.40 billion which is 13.85% of the total trade of Bangladesh.

However, the trade deficit with China reached $11 billion in 2017-18, he added.

FDI inflow from China to Bangladesh reached $1.03 billion largely in power, apparel and financial sector, he informed.

He also said that agro-processing offers immense investment opportunities for Chinese investors, as this sector is the second largest export sector of Bangladesh.

Moreover, the acting DCCI president invited the Chinese investors to invest in high-end apparel, backward linkage of pharmaceuticals, leather and footwear, electronics and automobile sector in Bangladesh.

Zhao Yanqing, chairman of Liaoning Federation of Industry and Commerce said that Liaoning province is situated in the north-east side of China which is near to Korea, Japan and Mongolia.

He invited Bangladeshi investors to invest in Liaoning province to tap the export market of Korea, Japan and Mongolia.

Liaoning province is rich in mineral resources like nickel, iron and magnesium. He said Bangladesh and Liaoning province is similar in size and the province is developed in terms of infrastructure and industrial base, he added.