Chinese investors are keen to establish an industrial park in Bangladesh which involves a huge investment, said Commerce Minister Tofail Ahmed on Sunday. The government will help them in this regard to the hilt, enhancing trade between two countries, he told reporters after a meeting with the Chinese Ambassador Li Jun at the former’s office. Currently, most Bangladesh products enjoy quota-free access to China. A new deal is on the cards, under which all items will get duty-free access to the country, he said. Tofail said, “As Chinese investors are pulling out of readymade garments (RMG) sector in their country, they will extend all-out support to Bangladesh in this sector.” “They are already providing assistance in establishing a garments industrial park at Baushiya in Munshiganj, which will house at least 250 garment factories.” “Employment for 2.5 lakh workers will also be created, taking the country’s garments export to 3 billion US Dollar”, he added. The minister said Bangladesh has exported goods worth 746.20 billion dollar against its import of goods worth 7,544.80 US dollar in 2013-14 fiscal year. Bilateral trade balance is now in favour of China, which is now 6,798.60 US dollar. It is expected to come down once Chinese investment increases in Bangladesh, he said. Terming China a close friend and large development partner, Tofail said the country has been providing assistance in larger development projects of Bangladesh. “It has been assisting in the projects like establishing permanent trade fair campus at Purbachal, garments industrial park at Baushiya, container terminal, Shahjalal fertilizer factory and deep sea port.” “To mark the 40th anniversary of diplomatic ties with China, a high-level Chinese leader will come to Bangladesh to attend the opening ceremony of building Karnaphuly tunnel in Chittagong”, Tofail added. Senior secretary of the commerce ministry Hedayetullah Al-Mamun and other senior officials of the ministry were present on the occasion.
Source: https://www.daily-sun.com/print/metropolis/2015/04/20/499037#sthash.Adrz7XeP.dpuf
