Bangladesh-China have scope to boost bilateral trade: BGMEA

There is a huge scope for widening collaboration and strengthening the partnership between Bangladesh and China, which will greatly benefit both countries, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan said on Monday.

The BGMEA chief made the remark when he paid a courtesy call on the Ambassador of China to Bangladesh Yao Wen at the embassy, read a press release.

BGMEA Director Tanvir Ahmed and Chair of BGMEA Standing Committee on Foreign Mission Cell Shams Mahmud were also present at the meeting. Economic and Commercial Counsellor Song Yang of the Chinese Embassy in Bangladesh was also present at the meeting.

They discussed potential opportunities for expanding bilateral trade between Bangladesh and China, and how both countries could derive more mutual trade benefits through further collaboration, especially in the area of the apparel and textile industry.

Knowledge and expertise sharing in the apparel and textile industry through collaboration between the BGMEA University of Fashion and Technology (BUFT) and leading Chinese textile and fashion universities and institutes were also discussed.

Faruque Hassan highlighted Bangladesh's RMG industry’s target of $100 billion garment export earnings by 2030.

“In pursuance of the vision, Bangladesh’s apparel industry was increasingly focusing on diversifying from cotton to non-cotton and high-value items in order to move up the value chain,” he said.

The BGMEA chief said, “The shift will increase the demand for manmade fibre-based fabrics, chemicals and other raw materials, and China is a big source of all of these items and can meet the demand of Bangladesh.

“Besides, China is a leading exporter of garment and textile machinery. On the other hand, China is a promising market for Bangladesh’s RMG exports.”

He expressed gratitude to the Chinese government for allowing Bangladesh duty-free access to the Chinese market for RMG exports and urged the envoy to extend more support to Bangladeshi businessmen in obtaining visas to facilitate their trading with China and Hong Kong.

Faruque Hassan requested the Chinese government to increase the number of flights between Bangladesh and China and sought the support of the envoy in this regard. The Bangladesh Apparel Summit would be organised in Hong Kong on March 21 2023, he also told the envoy.

He sought the cooperation of the embassy in easing consular services to Bangladeshi traders, especially in getting visas for visiting Hong Kong for business purposes and also for attending the summit.