Commerce and Industries Minister Tofael Ahmed has urged the Chinese investors to set up joint-venture textile industries In Bangladesh, reports UNB.

"Bangladesh wants to lie self-reliant in textile sector by the year 2000 to maintain GSP and increase value addition in garment export." the Minister told the visiting Chinese business delegation who called on him in the city yesterday.

Yin Junde. Vice-Chairman of the China National Textile Machinery Corporation (CTMC). is leading the delegation. Their visit Is aimed at expediting the use of Chinese machinery in textile sector.

During the meeting, the visiting Chinese businessmen and investors expressed their happiness over the normalcy in overall situation, including political harmony, prevailing in Bangladesh.

Yin said CTMC Is willing to extend its vast experience in textile sector by providing textile machinery and technology

to revamp the sector.

"CTMC is ready to provide complete spinning machineries and equipment at competitive prices.'' he said.

Welcoming the delegation. Tofael said: "Chinese government and the people are always friendly to us and have become our development partner."

Referring to the GSP and increase value-addition in garment export, he said the government is mobilising Tk 500 to 1000 crores to support the local investors to expedite their interest in this sector.

Tofael called upon the Chinese entrepreneurs to enjoy the "incentive package" offered to the foreign investors and said China will be welcomed in setting up an industrial park in Bangladesh to cement the Bangladesh-China friendship.

CTMC is one of the biggest textile machinery manufacturers in the world and exports its products to over 30 countries. More than 30 mills have so far been set up in Bangladesh with the assistance of CTMC.