Dhaka Chamber of Commerce and Industry president Taskeen Ahmed called for China鈥檚 comprehensive cooperation in developing the skills, capacity, and technological advancement of Bangladeshi entrepreneurs to sustain in global trade competitiveness.
He also urged to extend support in agriculture and agro-processing, ICT, renewable energy, automobile, light engineering, footwear, logistics, medical equipment and healthcare, API, semiconductors, and shipbuilding sectors.
He was taking part in a bilateral trade discussion with Yao Wen, the Ambassador of China to Bangladesh, on Monday at the Embassy of China in the capital.
DCCI president Taskeen Ahmed also said that the total bilateral trade between Bangladesh and China stood at $17.35 billion in FY2024, where Bangladesh鈥檚 imports and exports amounted聽to $16.64 billion and $715.38 million, respectively.
He stated that the聽continued sustainable socio-economic development of Bangladesh and harnessing the opportunities of LDC graduation would largely depend on the strengthening of the bilateral economic partnership between the two countries.
He also said that China is Bangladesh鈥檚 largest import partner, with multifaceted cooperation in infrastructure, energy and power, education, and human resource development.
Ambassador Yao Wen said that since last year, over 20 new Chinese companies in the RMG and textile sectors have committed nearly $800 million in investment in Bangladesh, which, once materialized, would help further boost the country鈥檚 exports.
He also noted Chinese entrepreneurs鈥� growing interest in investing in the electric vehicle sector in Bangladesh.
However, he pointed out that high tariffs and a lack of supportive policies are hindering investments in this sector.
He expressed hope that the Bangladesh government would address the issue with due importance and urged DCCI to take initiatives in this regard.
He further mentioned that 85 per cent of Bangladesh鈥檚 total exports come from the readymade garment sector, which is vulnerable in the long run.
He stressed the need for diversification of Bangladesh鈥檚 export basket by prioritising other potential sectors and enhancing export competitiveness.
He also encouraged Bangladesh to seek China鈥檚 technological cooperation in improving its production capacity.
