Bangladesh entrepreneurs have opportunity to export textiles, apparel items to China
Wednesday, 12 March 2008
FE Report
Bangladesh may explore potential of export of textiles and apparel items to Chinese market as there is a huge domestic demand for the same there, leaders of the visiting China Chamber of Commerce for Import and Export of Textiles (CCCIET) delegation said Tuesday.
"Our domestic demand for textiles and apparel are growing at a rate of 20 per cent. Bangladesh might explore the export market of textiles and apparel there," Cao Xin Yu, vice chairman of the CCCIET, told reporters.
He was speaking at a meeting with local businessmen at the conference room of the Dhaka Chamber of Commerce and Industry (DCCI) in the city.
Cao, who is leading a 21-member delegation, also said Chinese apparel entrepreneurs are finding potential for relocating their units to Bangladesh.
Chinese leaders said they are exploring the scope of joint venture investment as a large number of developed nations including Japan are offering duty-free access of Bangladeshi products to their market as it is a least developed country (LDC).
Salahuddin Abdullah, acting president of DCCI, was the moderator in the meeting.
He urged the delegates to import locally manufactured different types of products to reduce the trade gap between Bangladesh and China.
Currently, Bangladesh has a trade gap worth US$ 2441 million with China. Bangladesh in 2006-07 exported products worth about $ 93 million to China against imports worth $ 2534 million.
Salahuddin Abdullah also urged the visiting Chinese team to establish joint venture textile industries in Bangladesh.
"We have cheap labour. Our textiles are growing with a good pace. We need joint ventures with Chinese entrepreneurs to give further impetus to the sector," he said further.
He expressed the hope that the discussion meeting would open an era of cooperation between the two countries in the days ahead in different potential fields including textiles and clothing.
"Our knit sector is progressing well. China-Bangladesh cooperation can work better once Chinese investment for establishing backward linkage industries in the field of textiles and clothing is available," he added.
The visiting, Chinese team urged the local entrepreneurs to participate in different fairs to promote Bangladeshi products saying: "we will cooperate for participating in different fairs".
On the other hand, the team also met the leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in the city.
The team pledged to the local apparel exporters to extend cooperation for further promotion of Bangladesh apparel sector.
BGMEA president Anowar-ul-Alam Chowdhury Parvez said both the countries might be benefited economically once Bangladesh and China cooperated with each other.
"We are efficient in manufacturing garments and China is famous for fabrics, so our cooperation will be complementary to each other," he added.
Bangladesh may explore potential of export of textiles and apparel items to Chinese market as there is a huge domestic demand for the same there, leaders of the visiting China Chamber of Commerce for Import and Export of Textiles (CCCIET) delegation said Tuesday.
"Our domestic demand for textiles and apparel are growing at a rate of 20 per cent. Bangladesh might explore the export market of textiles and apparel there," Cao Xin Yu, vice chairman of the CCCIET, told reporters.
He was speaking at a meeting with local businessmen at the conference room of the Dhaka Chamber of Commerce and Industry (DCCI) in the city.
Cao, who is leading a 21-member delegation, also said Chinese apparel entrepreneurs are finding potential for relocating their units to Bangladesh.
Chinese leaders said they are exploring the scope of joint venture investment as a large number of developed nations including Japan are offering duty-free access of Bangladeshi products to their market as it is a least developed country (LDC).
Salahuddin Abdullah, acting president of DCCI, was the moderator in the meeting.
He urged the delegates to import locally manufactured different types of products to reduce the trade gap between Bangladesh and China.
Currently, Bangladesh has a trade gap worth US$ 2441 million with China. Bangladesh in 2006-07 exported products worth about $ 93 million to China against imports worth $ 2534 million.
Salahuddin Abdullah also urged the visiting Chinese team to establish joint venture textile industries in Bangladesh.
"We have cheap labour. Our textiles are growing with a good pace. We need joint ventures with Chinese entrepreneurs to give further impetus to the sector," he said further.
He expressed the hope that the discussion meeting would open an era of cooperation between the two countries in the days ahead in different potential fields including textiles and clothing.
"Our knit sector is progressing well. China-Bangladesh cooperation can work better once Chinese investment for establishing backward linkage industries in the field of textiles and clothing is available," he added.
The visiting, Chinese team urged the local entrepreneurs to participate in different fairs to promote Bangladeshi products saying: "we will cooperate for participating in different fairs".
On the other hand, the team also met the leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in the city.
The team pledged to the local apparel exporters to extend cooperation for further promotion of Bangladesh apparel sector.
BGMEA president Anowar-ul-Alam Chowdhury Parvez said both the countries might be benefited economically once Bangladesh and China cooperated with each other.
"We are efficient in manufacturing garments and China is famous for fabrics, so our cooperation will be complementary to each other," he added.