China is the biggest trading partner of Bangladesh, but exports are marginal compared to imports, resulting in a significant trade gap between the nations. The Bangladesh China Chamber of Commerce & Industry (BCCCI) believes that the road show organised in China on July 9 will help narrow this gap.
BCCCI Secretary General Al Mamun Mridha made these remarks in an interview with The Business Post’s Talukder Farhad during this roadshow in China.
TBP: Bangladesh Securities and Exchange Commission (BSEC), Bangladesh Investment Development Authority (BIDA) and BCCCI jointly organised the event, and Prime Minister Sheikh Hasina was present as the chief guest there. Can you brief us about the summit?
Al Mamun: About 1,000 Chinese businessmen and investors - interested in investing in the future of Bangladesh – participated in this road show. We are getting good responses from them.
As the prime minister herself is present at this event, we hope that there will be an unprecedented development in trading and investment between Bangladesh and China in the coming days.
This will bring the trade balance to an acceptable level between the two countries.
TBP: What role would the BCCCI play in boosting trade, investment?
Al Mamun: The BCCCI has been working to increase trade between the two countries for the last two decades. You know that in 2003, the trade between Bangladesh and China was less than one and a half billion USD, and it exceeded $18 billion in FY23.
This has been made possible by the robust growth of business between the private sector of Bangladesh and China over the past two decades, and the BCCCI is playing a vital role behind it.
TBP: What benefits BCCCI will provide to potential investors and businesses found during this road show?
Al Mamun: Several new wings are being opened at the BCCCI, where the investors will be served directly. For example, we create a separate legal panel to mitigate all kinds of trade disputes. Legal assistance will be provided to the new investors free of cost.
TBP: What benefits await Bangladeshi businesses trading with China?
Al Mamun: Various exhibitions are being organised in China to promote business. The Bangladeshi business community can benefit in many ways through these exhibitions.
We have gotten assurance from the Chinese side that there will be special discounts or privileges for Bangladeshi businessmen to join such exhibitions.
Besides, the Chinese Embassy of Dhaka assured us that members of the China Chamber can easily avail visa to join such events. This move will help to join more Bangladeshi participants in these exhibitions than before, which will contribute to the expansion of our business.
TBP: What other initiatives the BCCI is taking?
Al Mamun: We are working on increasing the level of communication between the two countries. Think tanks of both countries are working to strengthen coordination between the large delegations of Chinese investors who will visit Bangladesh in the coming days.
We hope to organise the first investment summit in Bangladesh for Chinese investors and businesses by the end of this year.
