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Bangladesh urges China to increase garment imports

Bangladeshi business leaders have decided to appeal to their Chinese counterparts to increase apparel imports from Bangladesh, helping to raise the share to at least 10 per cent. As of now, the country imports less than one per cent from Bangladesh of the total apparel product imports of worth 30 billion dollars annually.

 

If the country increases its share of imports from Bangladesh to 10 per cent then Bangladesh’s apparel exports to China would reach 3 billion dollars in a year. Bangladesh's apparel shipment amounted to 21.51 billion dollars in 2013 financial year, with North America and the European Union being major destinations. On the other hand, Bangladesh runs a massive trade deficit with China, which imported goods worth only 485 million dollars against its exports of 6.3 billion dollars in 2013 fiscal.

  
Prime Minister Sheikh Hasina is scheduled to visit China from June 6- 11, 2014aiming to increase Chinese cooperation in the field of trade, investment and socio-economic development of the country. A total of 70 businessmen will be accompanying the prime minister during this visit.

 

Bangladeshi businessmen would also attend 9th China-South Asia Business Forum and 2nd China-South Asia Expo in Kunming under Yunan province of China  from June 6-7, 2014 to discuss issues relating to investments and expansion of trade between the two countries.

 

Csabf.ccpit.org

 
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