Business Desk :
Free Trade Agreement (FTA) with China is crucial for Bangladesh not only to reduce the mammoth trade gap between the two countries but also to absorb the shock that Bangladesh is experiencing after graduating from LDC.
This was observed by policymakers, economists and diplomats at a discussion titled ‘Bangladesh-China Economic and Trade Relations in the aftermath of the COVID-19 Global Pandemic’, jointly organised by the Economic Reporters’ Forum (ERF) and Bangladesh China Chamber of Commerce & Industry (BCCCI) on Wednesday.
“We have started talks aiming at signing FTA with China and the negotiations need to be concluded”, said Commerce Minister Tipu Munshi.
He mentioned that the trade imbalance is highly unfavourable to Bangladesh and signing the FTA would help to reduce it.
“Our bilateral trade last year stood at around US$12 billion, of which China’s export to Bangladesh is over 11.5 billion”.
The minister urged the businesses to take advantage of China’s duty-free market for raising Bangladesh’s exports to China.
Terming China a trusted partner, the minister said China-funded government to government megaprojects are going on in a full swing which would help promote the country’s economic growth.
