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Beijing for subsidised import, tariff cut

UNB, Dhaka
Chinese Premier Wen Jiabao yesterday said his government would give subsidy to their business people to increase the import of Bangladeshi goods under a package of measures.
China would adopt three-pronged measures, including the subsidised import, to augment trade with Bangladesh, he said.
The two other steps Wen spelt out are reducing tariffs and increasing understanding between the business communities of the two countries, especially through holding more trade fairs.
"We are going to reduce tariffs on some Bangladeshi goods," the Chinese premier told leaders of the local business community at Hotel Sonargaon in the morning.
The Bangladesh business community was led by President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Abdul Awal Mintoo.
The Chinese premier said in recent years there has been a significant increase in trade between the
two countries.
"However, Bangladesh is in trade deficit," he admitted. But it is not because Bangladeshi products are not standard or competitive -- it is because the potentialities are not fully tapped.
Striking a positive note on expansion of the Dhaka-Beijing relations of friendship, Jiabao mentioned the agreements signed between the two sides after official talks on Thursday.
He said Bangladesh needs development of infrastructure and China has the expertise. He also cited the strengths the China of modern times has got in terms of technology and machinery.
Jiabao was critical of the conditions imposed by some developed countries regarding the import of goods from developing countries, although they are the proponents of free trade. "This," he said, "is not in line with the free trade."
Mentioning his trip to the countryside of Bangladesh 11 years ago, the Chinese premier noted with happiness the positive changes that have taken place there in thelast few years.
Referring to the size of Bangladesh which is one seventh of China and a huge population which is one ninth of China, Jiabao said, "Bangladesh has created a miracle in feeding so many people with so less land."
Mintoo said the Chinese premier has embarked on a great mission that may lead to a great rearrangement of trade in the region.
Earlier, Jiabao was introduced to the leaders of the Bangladesh business community.