DOT Desk: Chinese Ambassador to Bangladesh Li Jiming on Saturday said that Bangladesh needed to produce what the Chinese market required to boost export, reports Dhaka Tribune.
The envoy also said that Bangladesh needs more Chinese market-oriented investment, as China’s investment in Bangladesh in 2021 amounted to $1.26 billion and grew almost threefold.
With an accumulated investment of nearly $3 billion, China remains a prominent FDI source for Bangladesh, he added.
The envoy was speaking at China-Bangladesh Enterprises Cooperation Forum 2022, held at the Bangabandhu Bangladesh-China Exhibition Centre in the capital.
As one of the most reliable and trusted friends, China continuously supports Bangladesh through various means to promote the infrastructure development, including concessional loans, investment cooperation, project contracting and China-aid projects, said Ambassador Jiming.
A number of mega projects have been and will be completed this year, including the Padma Bridge Project, the eighth Bangladesh-China Friendship Bridge, South Asia’s largest sewage treatment plant at Dasherkandi, the Karnaphuli Tunnel and some other power and rail projects, he also said.
State Councilor and Foreign Minister Wang Yi announced that the duty-free treatment of 98% tariff lines on goods originating from Bangladesh and exported to China effective from September 1, which will further help to boost Bangladesh’s exports to China, the envoy also said.
“Bilateral financial and currency cooperation is strongly recommended to help facilitate trade and economic cooperation. If we could use RMB and Taka in bilateral trade, it will reduce transaction costs and mitigate exchange risks,” the Chinese envoy also said.
“In preparation for Bangladesh’s exit from the LDCs in 2026, we are pleased to see that the Bangladeshi side has taken a positive stance and begun discussions on FTA with trade partners, including China,” he added.