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PM for Sino-Bangla 'strategic' trade ties

BGMEA signs MoU with Chinese co

UNB, Beijing
Prime Minister Khaleda Zia yesterday assured the Chinese investors of all-out co-operation in their business endeavours as top Chinese companies expressed intent to invest in various sectors, particularly in chemical, mining, and power plants in Bangladesh.
The assurance came when chief executives of some renowned Chinese companies met the prime minister at Kerry Centre in Beijing.
The China Metallurgical Construction Corporation President
Shen Heting, China National Machinery Import and Export Corporation Vice-president Oin Ruijuan, Sinosteel Corporation Vice-president He Lin, China Huan Construction & Engineering Corporation Vice-president Wan Zhuovan, China Eastern Airlines Vice-president Liu Jiangbo and China Electronics Technology of Group Corporation Vice-president Guo Yadong were in the select group of Chinese entrepreneurs that called on Khaleda Zia.
The Chinese business leaders later assembled at a seminar on "Business Opportunities in Bangladesh". Held at the auditorium of Kerry Centre, the seminar was organised by China Council for the Promotion of International Trade (CCPIT) and addressed by Prime Minister Khaleda Zia and CCPIT Chairman Wan Jifei.
Khaleda said Bangladesh offers excellent potential for Chinese private sector investments. It offers competitive costs of business on a global scale and has the most liberal investment regime in South Asia.
"We have a growing economy of 14 million people and a substantial domestic consumption base," she said, adding that Bangladesh enjoys duty-free access to the European Union, Canada, Australia, and New Zealand.
She pointed out that Bangladesh's proximity to India presents a unique opportunity for the investors to get market access to a region having onefifth of the world's population.
On low cost and huge market potentials, she urged the Chinese business leaders to consider investment in readymade garments, textiles, man-made fibre, agro-processing, leather products, pharmaceuticals, ceramics, information technology, energy, power and infrastructure development.
"Bangladeshi products are getting international recognition due to high quality and competitive price," Khaleda said, adding that the Chinese trading companies might actively consider importing seafood, pharmaceuticals, footwear, ceramics, leather, jutegoods and agricultural products from Bangladesh.
She called for a "strategic partnership" to be developed between the two countries for creating an integrated supply chain for the global market, saying "the emergence of a global production system has created new opportunities for us."
CCPIT Chairman Wan Jifei stressed the importance of identifying the sectors of mutual co-operation. He said he hopes the business leaders
could contribute to taking the Sino-Bangla trade relations to new heights.
After the seminar, Bangladesh Garments Manufacturers and Exporters Association (BGMEA) and Linmark Group Limited of China signed a memorandum of understanding (MoU) under which the Chinese company will import readymade garments from Bangladesh. BGMEA President Annisul Huq and Chairman of Linmark Group LY Wang signed the MoU in presence of the prime minister.
Foreign Minister M Morshed Khan, Adviser to the energy and mineral resources ministry Mahmudur Rahman, PM's Principal Secretary Kamal Siddiqui, Bangladesh Ambassador in Beijing Ashfaqur Rahman, and Chinese Ambassador in Dhaka Chai Xi were present on the occasion.