BCCCI calls on Chinese, South Asian businesses to invest in Bangladesh

The Bangladesh China Chamber of Commerce and Industry has called upon investors from China and South Asian countries to invest more in Bangladesh as there remains a vast scope of opportunity in different fields.

They also showed keen interest to join hands with all enterprises of Chinese province of Yunnan to create more opportunities, tackle difficulties through cooperation, and foster a brighter future.

They made the call on Wednesday at a webinar titled, “Opening ceremony of South & Southeast Asia Commodity Expo Fair” sponsored by the China Chamber of International Commerce, SAARC Chamber of Commerce and Industry, and the Secretariat of China-South Asia Expo. The five-day long virtual fair will end on August 29.

Many companies from different South Asian countries are attending the expo. Bangladeshi businesses are displaying different products like handicrafts, jute and jute goods, leather and leather products, frozen food, and agricultural products there.

BCCCI Senior Vice President Azizul Akil David said Bangladesh has recently signed bilateral investment treaties with 32 countries including China for promotion and protection of investment. “With the increase of economic and trade exchanges between China and Bangladesh, BCCCI was established in May 2003 aiming to accelerate economic prosperity of Bangladesh and China,” he added.

“I sincerely welcome all Chinese enterprises, including the enterprises in Yunnan, to invest and carry out various economic and trade activities in Bangladesh. Our authorities will wholeheartedly serve you. I wish this fair a success,” he added.

“We invite international investors to invest more in Bangladesh. We are looking for fresh markets across in the globe. Such expo strengthens friendly economic ties and augment trade cooperation in south Asian countries to overcome the challenge posed by the Covid-19 pandemic,” BCCCI Joint Secretary General Al Mamun Mridha said.

He also added that after establishing BCCI, they actively participated and promoted Bangladeshi products in different programmes. “Bilateral trade with China in 2003 was $1.17 billion and but now we are enjoying a bilateral trade $14.48 billion,” he said.

Al Mamun said Bangladesh was now enjoying ‘zero per cent’ tariff on 97 per cent of products that it exports to China. Bangladesh is now an ideal destination for foreign direct investment, he said.

Former Principal Secretary to the Prime Minister Abul Kalam Azad said, “We welcome all investors in Bangladesh. Besides, there are a lot of skilled labour forces who are available at lower wage compared to other countries.”

Former Executive Chairman of BEZA Paban Chowdhury said, “We are trying to resolve all barriers to accelerate economic activities. The progress will be visible within next several years.”

There is huge scope to invest in Bangladesh as the government is developing economic zones for local and foreign investors, he said adding that separate economic zones have been prepared for China and Japan.