The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the country’s apex trade body, has called for stronger direct engagement between Bangladeshi and Chinese businesses and greater use of joint investment opportunities to reduce the trade deficit with China.
FBCCI Administrator Md Fazlul Hoque made the call at a meeting with a business delegation from the China Council for the Promotion of International Trade (CCPIT) at the FBCCI office in Motijheel on Monday afternoon.
In his welcome remarks, Fazlul Hoque said Bangladesh, like many other countries, imports a large volume of goods from China.
He said although bilateral trade between the two countries is currently close to $20 billion, Bangladesh continues to face a significant trade deficit, with annual exports to China remaining below $1 billion.
The FBCCI administrator urged entrepreneurs from both countries to identify promising sectors for joint trade and investment.
He said the visit of the Chinese business delegation would not only help expand bilateral trade but also create greater export opportunities for Bangladeshi products in the Chinese market. It would also contribute to increasing investment between the two countries.
Fazlul Hoque assured the delegation that FBCCI would provide all possible support to Chinese entrepreneurs seeking to do business in Bangladesh.
During an open discussion, Bangladeshi business representatives invited Chinese investors to explore joint investment opportunities in sectors such as food processing, medical devices and accessories, pharmaceuticals and active pharmaceutical ingredients (API), renewable energy, and jute and jute-based products.
He Tao, director of the Bureau of Commerce of China’s Honghe region, expressed interest in expanding bilateral trade and investment between Bangladesh and China.
He said one of their key objectives was to simplify the import-export process between the two countries and explore new opportunities in business and trade.
FBCCI former directors Abdul Haque, Priti Chakraborty and Obaidur Rahman, FBCCI Secretary General Md Alamgir, FBCCI Safety Council Adviser Brigadier General (retd) Abu Naim Md Shahidullah, members of the FBCCI general body, leaders of different chambers and associations, and other members of the CCPIT delegation attended the meeting.
