The country's apex trade body Monday urged the visiting Chinese business team to invest in Bangladesh's potential sectors like pharmaceuticals and automobile.
Mentioning various lucrative investment facilities available for overseas investors like tax holiday and corporate tax incentive, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) suggested that Chinese investors should take such advantages.
The suggestions came when a 10-member delegation of CCPIT (China Council for the Promotion of International Trade) held a meeting with leaders of the FBCCI at the Federation Bhaban in Dhaka, the FBCCI said in a statement.
Representatives of state-run Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA) and Bangladesh Export Processing Zones Authority (BEPZA) were also present.
Welcoming the Chinese business delegation, FBCCI President Md. Shafiul Islam (Mohiuddin) said Bangladesh's economy was moving "very fast" despite the infrastructural deficiency.
He said Bangladesh achieved a consistent GDP (gross domestic product) growth of over 6.0 per cent during the last couple of years and above 7.0 per cent GDP growth in the past two years and it is just one step close to reaching the target of 8.0 per cent growth.
Terming Bangladesh a good place for China's outbound investment, the FBCCI boss invited the Chinese businessmen to invest in the prospective sectors of Bangladesh.
"As Bangladesh is a huge market of 160 million people, Chinese investors can come forward for investment using their raw materials in the production of different sectors," he said.
The FBCCI also expressed interest in joint venture with China in the automobile sector.
Ms. Zou Xia, Director of CCPIT (Shandong) led the Chinese Delegation. Ms. Xia recalled the historic friendly relationship between China and Bangladesh and emphasised further strengthening of the bilateral trade between the FBCCI and the CCPIT.
Mentioning China's Shandong Province's investment in Bangladesh's textile industry, she noted that CCPIT is working as the trade promotion council for the expansion of bilateral trade between China and Bangladesh.
The council will continue its effort to strengthen the partnership between the potential enterprises of both countries.
From CCPIT, representatives from textile, rubber, tyre and microphone sectors participated in the meeting.
Bangladesh exported a total of US$ 949.41 million to China in fiscal year 2016-17 and imported US$ 10,128.1 million.
The key export items of Bangladesh to China are woven garments, leather goods, knitwear, jute and jute goods and leather and frozen foods. The import items from China are textiles & textile articles, machinery and mechanical appliance, electrical equipment and products of chemical or allied industries.
© 2024 - All Rights with The Financial Express
