China keen to invest in fabric manufacturing industry
Sunday, 16 March 2008
China is keen to invest in fabric manufacturing industry in the export processing zones (EPZs) and establish a textile and apparel trade centre in Bangladesh with a view to contributing to balancing bilateral the trade heavily tilted towards China.
This was disclosed while the visiting 17-member delegation of the China Chamber of Commerce for Import and Export of Textiles (CCCT) held a meeting with the vice-chairman and senior officials of the Export Promotion Bureau (EPB) in the city Wednesday, reports BSS.
The meeting was co-chaired by Vice-Chairman of CCCT Cao Xinyu and his EPB counterpart Shahab Ullah.
During the meeting, Shahab Ullah outlined the role of EPB in promoting Bangladesh export trade and highlighted the salient features of the current Export Policy 2006-2009, investment incentives and also the duty-free and quota-free market access provided to the country by the developed nations.
He said Bangladesh exports items including raw jute, leather, woven garments, frozen fish, shrimps and jute goods to China, and import from China goods like animal products, vegetable products, animal/vegetable fats and oils, prepared foodstuffs, manufactured tobacco, mineral products and chemical products.
Cao Xinyu said the main purposes of the CCCT delegation's visit to Bangladesh now are to promote communication and cooperation between Chinese and Bangladeshi textile, apparel and ancillary industries, explore the possibility of investing in the fabric manufacturing, and study the market for Chinese fabrics and establish Textile and Apparel Trade Centre in Bangladesh.
The CCCT delegation's current visit, therefore, is of utmost importance to Bangladesh textile and apparel sector.
The EPB Vice-Chairman urged the delegation members to come forward to invest in Bangladesh, particularly in the textile and apparel sector, with a view to the easing chronic trade imbalance with China.
In this respect, he referred to fiscal year 2006-2007's total export worth US$ 92.99 million and import worth $2537.16 million to and from China.
This was disclosed while the visiting 17-member delegation of the China Chamber of Commerce for Import and Export of Textiles (CCCT) held a meeting with the vice-chairman and senior officials of the Export Promotion Bureau (EPB) in the city Wednesday, reports BSS.
The meeting was co-chaired by Vice-Chairman of CCCT Cao Xinyu and his EPB counterpart Shahab Ullah.
During the meeting, Shahab Ullah outlined the role of EPB in promoting Bangladesh export trade and highlighted the salient features of the current Export Policy 2006-2009, investment incentives and also the duty-free and quota-free market access provided to the country by the developed nations.
He said Bangladesh exports items including raw jute, leather, woven garments, frozen fish, shrimps and jute goods to China, and import from China goods like animal products, vegetable products, animal/vegetable fats and oils, prepared foodstuffs, manufactured tobacco, mineral products and chemical products.
Cao Xinyu said the main purposes of the CCCT delegation's visit to Bangladesh now are to promote communication and cooperation between Chinese and Bangladeshi textile, apparel and ancillary industries, explore the possibility of investing in the fabric manufacturing, and study the market for Chinese fabrics and establish Textile and Apparel Trade Centre in Bangladesh.
The CCCT delegation's current visit, therefore, is of utmost importance to Bangladesh textile and apparel sector.
The EPB Vice-Chairman urged the delegation members to come forward to invest in Bangladesh, particularly in the textile and apparel sector, with a view to the easing chronic trade imbalance with China.
In this respect, he referred to fiscal year 2006-2007's total export worth US$ 92.99 million and import worth $2537.16 million to and from China.