Speaking at a seminar organized by the Bangladesh-China chamber of commerce and industry (Bccci) in Dhaka, the minister emphasized that a formal trade pact is essential for addressing the trade imbalance and expanding Bangladesh’s export portfolio beyond traditional garments, News.Az reports, citing BSS News.
China is currently Bangladesh’s largest trading partner, and the minister noted that while bilateral trade is robust, there remains significant untapped potential for Bangladeshi products in the chinese market.
He highlighted that the Fta would provide a predictable and stable framework for businesses, encouraging chinese investors to establish manufacturing units within Bangladesh. This move is seen as vital for the country as it prepares to graduate from the Least developed country (Ldc) status, a transition that will bring changes to its international trade privileges.
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During the discussions, the minister also pointed out the importance of diversifying exports into sectors such as leather, jute, and agricultural products. He suggested that enhanced cooperation in technology transfer and infrastructure development would further strengthen the economic bond. By leveraging China’s vast consumer market and industrial expertise, Bangladesh aims to modernize its production capabilities and create a more resilient, export-oriented economy.
Representatives from both countries expressed optimism about the progress of the negotiations. The seminar concluded with a mutual commitment to streamlining bureaucratic processes and fostering a more investment-friendly environment. As both nations look toward a deeper strategic partnership, the successful execution of the Fta is expected to be a cornerstone of their shared economic growth in the coming years.
