Bangladesh, China ink $13.6b deals

BSS

14 October, 2016, 22:37

Update: 14 October, 2016, 22:37

The agreements were signed at Bangladesh-China Business Forum jointly organized by Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and China Council for Promotion of International Trade (CCPIT) at a city hotel on the occasion of Chinese President Xi Jinping’s visit to Bangladesh. Photo: NRF

Dhaka: Bangladesh and China today struck $ 13.6 billion deals for 13 projects that would mainly cover infrastructure, communication, power and energy and sports.

Commerce Minister Tofail Ahmed was present at the ceremony as the chief guest.

FBCCI president Abdul Matlub Ahmed, after the signing, said of the total agreements, private organizations inked 11 agreements while the remaining deals were struck by the government of Bangladesh.

Besides, on the Chinese side, two-thirds agreements were signed by the state-owned companies while the rest by private firms, said Sun Xiao, deputy director general of China Chamber of International Commerce, Department of Cooperation and Development.

Speaking on the occasion, Vice chairman of China Council for the Promotion of International Trade (CCPIT) Chen Zhou termed Bangladesh as a close friend of China as the two countries have diplomatic relations for 46 years.

‘We believe more Chinese investment in special economic zone (SEZ) would benefit Bangladesh,’ he said referring to the allocation of land for China in SEZ in Chittagong.

Zhou laid emphasis on transformation and upgradation of production to boost export growth to China.

Speaking on the occasion, Tofail Ahmed said if Bangladesh, China, India and Myanmar (BCIM) Economic Corridor is established, the trade and commerce of the two nations will see a better future.

The BCIM Economic Corridor is an initiative conceptualized for significant gains through sub-regional economic cooperation within the BCIM countries.

Mentioning that in July-August period, Bangladesh’s export to China has seen a 25 per cent rise compared to the same period a year ago, he hoped that the total export to China would increase to $ 2 billion by next two to three years.