China to boost volume of trade to $5b by 2010
Monday, 23 July 2007
FE Report
China has expressed its interest to boost annual volume of bilateral trade to $5.0 billion by 2010 through more access of Bangladeshi products into its market.
"China does not want to pursue big surplus in bilateral trade. We hope the bilateral trade will gradually become balanced…," Wang Chao, assistant commerce minister of China, said after a 'purchase contracts' signing ceremony in the city Sunday.
China will be importing more than US$1.0 trillion in the near future, so Bangladesh can take chance to increase her share in this huge import requirement of China, he said.
The Chinese enterprises, under the latest contracts, are expected to import jute, jute yarns, leather, seafood and cotton yarn from Bangladesh at an estimated cost of $53 million.
The contract signing ceremony was followed by a business dialogue, jointly organised by the Dhaka Chamber of Commerce and Industry (DCCI) and the embassy of the People's Republic of China at the Bangladesh-China Friendship Conference Centre.
In 2006, the bilateral trade was recorded at $3.2 billion with a growth of more than 29 per cent over that of the previous year.
In the first five months of 2007, he said bilateral trade kept growing momentum and reached $1.3 billion with $1.2 billion surplus in China's favour.
He said: "As a matter of fact, our government organised its enterprises to purchase products from Bangladesh."
Mostafa Mohiuddin, joint secretary of the Ministry of Commerce, Zheng Zingdian, ambassador of China to Bangladesh, Alauddin Mallik, vice president, M Sajahan Khan, senior vice president of the DCCI, economic and commercial counsellors of both Bangladesh and China Aminul Islam and Lin Wiqiang respectively were, among others, present at the signing ceremony with Hossain Khaled, president of the DCCI, in the chair.
China has expressed its interest to boost annual volume of bilateral trade to $5.0 billion by 2010 through more access of Bangladeshi products into its market.
"China does not want to pursue big surplus in bilateral trade. We hope the bilateral trade will gradually become balanced…," Wang Chao, assistant commerce minister of China, said after a 'purchase contracts' signing ceremony in the city Sunday.
China will be importing more than US$1.0 trillion in the near future, so Bangladesh can take chance to increase her share in this huge import requirement of China, he said.
The Chinese enterprises, under the latest contracts, are expected to import jute, jute yarns, leather, seafood and cotton yarn from Bangladesh at an estimated cost of $53 million.
The contract signing ceremony was followed by a business dialogue, jointly organised by the Dhaka Chamber of Commerce and Industry (DCCI) and the embassy of the People's Republic of China at the Bangladesh-China Friendship Conference Centre.
In 2006, the bilateral trade was recorded at $3.2 billion with a growth of more than 29 per cent over that of the previous year.
In the first five months of 2007, he said bilateral trade kept growing momentum and reached $1.3 billion with $1.2 billion surplus in China's favour.
He said: "As a matter of fact, our government organised its enterprises to purchase products from Bangladesh."
Mostafa Mohiuddin, joint secretary of the Ministry of Commerce, Zheng Zingdian, ambassador of China to Bangladesh, Alauddin Mallik, vice president, M Sajahan Khan, senior vice president of the DCCI, economic and commercial counsellors of both Bangladesh and China Aminul Islam and Lin Wiqiang respectively were, among others, present at the signing ceremony with Hossain Khaled, president of the DCCI, in the chair.