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Bangladesh-China road link needed to boost trade

Chinese business team meets FBCCI, DCCI

STAR BUSINESS REPORT
Business leaders of Bangladesh and China have underscored the need for establishing a direct road link between Bangladesh and China via Myanmar to promote bilateral trade between the two countries.
They urged their respective governments to take immediate measures to establish a 900-kilometre road link, which will also help reduce the huge trade gap between Bangladesh and China.
The proposal was made at the meetings between the visiting 11-member high-profile business delegation of China and leaders of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Dhaka Chamber of Commerce and Industry (DCCI) in Dhaka yesterday.
Wang Chao, deputy governor of Dehong Prefecture of Yunnan Province, China led the Chinese delegation.
The business leaders of the two countries reached a consensus
about potential of the road link in strengthening bilateral trade ties.
"The purpose of our visit to Bangladesh is to explore potential for increasing trade volume through land routes along with air and sea routes," Wang Chao said.
"It is possible to set up a direct road link and we would like to cooperate Bangladesh in this regard," he added.
He invited Bangladesh to join a five-day Border Trade Fair to be held in December in China to gear up business activities in South Asian countries.
After the meeting in the morning, FBCCI President Abdul Awal Mintoo told reporters that it would hardly take two or three years to construct the road .
"The governments of Bangladesh and China can discuss the issue under Bangladesh China India Myanmar (BCIM) sub-regional co-operation," he said.
"China is going to be the largest trading partner of Bangladesh and construction of the road would boost
regional trade among China and the Saarc countries," he said.
The FBCCI president sought zero tariff access of all Bangladeshi products to China.
Speaking at the meeting in afternoon, DCCI President Sayeeful Islam said, "A road link can make exports much faster."
The DCCI chief called for Chinese co-operation and sought direct investment to set up backward linkage industries to feed Bangladesh's readymade garment industry.
Underlying the need for duty free and quota free market access for all Bangladeshi products to China, Islam said, "It is necessary to reduce the trade imbalance for a healthy and long-term growth of trade cooperation."
Bangladesh's export to China declined form US$48.51 million in FY1997-98 to $45.52 million in FY2003-04 while import from China increased from $592 million to $1197.68 million during the same period, he told the meeting.