12 Chinese cos enter deals to import $80m local goods
Wednesday, 15 October 2008
FE Report
Twelve Chinese companies signed Tuesday purchase deals worth over $80 million (8.0 crore) with thirteen local businesses.
Under the purchase deals, the Chinese companies will import jute yarn, leather and seafood items from Bangladesh.
The signing ceremony of the purchase deals between the Bangladeshi exporters and the Chinese importers was jointly organised in the city by the Dhaka Chamber of Commerce and Industry (DCCI) and the Chinese embassy in Dhaka.
Liang Wento, deputy director general of Asia Affairs Department of the Ministry of Commerce of China, Zheng Qindian, Chinese ambassador in Dhaka, Ghulam Hussain, joint secretary of the Ministry of Commerce of Bangladesh, Md Shahab Ullah, vice chairman of Bangladesh's Export Promotion Bureau, among others, spoke on the occasion with DCCI President Hossain Khaled in the chair.
Speaking at the signing ceremony, Liang Wento said his government is keen to narrow the existing trade gap between China and Bangladesh.
"I am here with the Chinese Governmental Purchase Team to find out avenues so that the gap of trade can be reduced through boosting further bilateral trade," he mentioned.
Bangladesh's exports to China increased from $58 million in 2005 to $107 million in 2008 while imports increased from $1.64 billion in 2005 to $3.11 billion in 2008.
Showing to the aforementioned statistics, DCCI President Hossain Khaled said: "We need to discuss measures to reduce this huge trade deficit."
He said China has offered 84 products of Bangladesh duty-free access to its market but the local entrepreneurs could not avail the opportunity.
Twelve Chinese companies signed Tuesday purchase deals worth over $80 million (8.0 crore) with thirteen local businesses.
Under the purchase deals, the Chinese companies will import jute yarn, leather and seafood items from Bangladesh.
The signing ceremony of the purchase deals between the Bangladeshi exporters and the Chinese importers was jointly organised in the city by the Dhaka Chamber of Commerce and Industry (DCCI) and the Chinese embassy in Dhaka.
Liang Wento, deputy director general of Asia Affairs Department of the Ministry of Commerce of China, Zheng Qindian, Chinese ambassador in Dhaka, Ghulam Hussain, joint secretary of the Ministry of Commerce of Bangladesh, Md Shahab Ullah, vice chairman of Bangladesh's Export Promotion Bureau, among others, spoke on the occasion with DCCI President Hossain Khaled in the chair.
Speaking at the signing ceremony, Liang Wento said his government is keen to narrow the existing trade gap between China and Bangladesh.
"I am here with the Chinese Governmental Purchase Team to find out avenues so that the gap of trade can be reduced through boosting further bilateral trade," he mentioned.
Bangladesh's exports to China increased from $58 million in 2005 to $107 million in 2008 while imports increased from $1.64 billion in 2005 to $3.11 billion in 2008.
Showing to the aforementioned statistics, DCCI President Hossain Khaled said: "We need to discuss measures to reduce this huge trade deficit."
He said China has offered 84 products of Bangladesh duty-free access to its market but the local entrepreneurs could not avail the opportunity.