Business brass to urge China to ramp up BD garment imports

Bangladeshi business leaders will urge their Chinese counterparts to bump up apparel imports from Bangladesh, helping to raise the share to at least 10 per cent, the head of the country's apex trade body said.   
"China imports apparel products worth US$ 30 billion annually. But it imports less than one per cent of its total apparel from Bangladesh," president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Kazi Akram Uddin Ahmed told the FE Wednesday.
"We will request Chinese businessmen to import at least 10 per cent of their total garment imports from Bangladesh as we accompany the prime minister during her China trip," he said.
The FBCCI chief said Bangladesh's apparel exports to China would reach $3.0 billion in a year if the country had grabbed 10 per cent of total garment import by China. He said Bangladeshi businessmen will request their Chinese counterparts to import more from Bangladesh.
Bangladesh's apparel shipment amounted to $ 21.51 billion in 2013 financial year, with North America and the European Union being major destinations.
Bangladesh runs a massive trade deficit with China, which imported goods worth only $ 485 million against its exports of $ 6.3 billion in 2013 fiscal.  
Prime Minister Sheikh Hasina is scheduled to visit China from June 6- 11, 2014 aiming to increase Chinese cooperation in the field of trade, investment and socio-economic development of the country.
A total of 70 businessmen will be accompanying the prime minister.
The PM is expected to press for reducing the trade gape between the two countries as well as bringing the bilateral relations to 'closer comprehensive partnership of cooperation'.  
Mr Ahmed said they will request Chinese businessmen to come up with large scale investment in the special economic zones (SEZ's) considering the prevailing investment friendly environment in the country.
"We will call upon the Chinese entrepreneurs to invest and develop their industries here. We will promise to give them an industrial park or a special economic zone," he said.
He said there might be a positive outcome regarding the deep-sea port to be built at Sonadia Island near Cox's Bazar during prime minister's visit in China.
China Harbour Engineering Company Ltd (CHEC), a subsidiary of state-owned China Communications Construction Company Ltd (CCCC), has shown interest in financing and constructing the port, which is expected to boost the country's GDP growth by 2 per cent.
Mr Akram said the local businessmen would attend 9th China-South Asia Business Forum and 2nd China-South Asia Expo in Kunming under Yunan province of China  from June 6-7, 2014 to discuss issues relating to investments and expansion of trade between the two countries.
"We will also have a meeting with business leaders in Beijing. We will tell them that Bangladesh is a safe destination for investment," Mr Akram added.