China has announced a major aid of $10.5 mn to B'desh, and ordered over $53 mn worth of goods from the country to address concerns of growing trade imbalance
BEIJING: China has announced a major aid of USD 10.5 million to Bangladesh, and ordered over USD 53 million worth of goods from the country to address Dhaka's
concerns of growing trade imbalance with the Communist giant.
China and Bangladesh will work jointly to promote the bilateral economic relations and trade cooperation, particularly to solve the imbalance problem and to encourage investment, Chinese Assistant Minister of Commerce Wang Chao said.
Wang, currently leading a Chinese business delegation to Dhaka met with Bangladesh's Finance and Commerce Advisor Azizul Islam, and the two sides expressed their desire to promote bilateral relations.
He said both countries have made great progress in bilateral economic relations with a rapid growth of trade between the two countries.
It reached a record level of about USD 3.19 billion in 2006, which was 28.5 per cent higher than the previous year, with Bangladesh's export to China amounting only about USD 98.8 million, Xinhua news agency reported today.
China has granted tariff-free access to 84 items of commodities from Bangladesh within the framework of the Asia-Pacific Trade Agreement(AFTA), Islam said.
Wang said the 39-member purchase delegation he led will purchase Bangladesh's goods worth over USD 50 million. It is the biggest Chinese purchase delegation ever to visit Bangladesh.
More competent Bangladesh enterprises are welcomed to invest in China and to attend the Guangzhou Chinese Import and Export Commodities Fair to show Bangladesh's various products to Chinese people, he said.
China will provide free stalls in the annual fair to developing countries including Bangladesh, he said.
Visiting representatives of the chinese companies signed purchase contracts worth USD 53 million with Bangladeshi counterparts yesterday, mainly to purchase leather, jute
products and seafood.
During the visit, both countries also signed the agreements on Economic and Technical Cooperation, which provides 100 million RMB (about USD 13.2 million) to Bangladesh with 80 million RMB (about USD 10.5 million) as non-reimbursable assistance and the left as an interest free loan.
A Bangladesh-China Friendship Exhibition Center will be built in Dhaka, according to the agreement.
The chinese economic and trade delegation arrived in Dhaka on Saturday for a three-day visit after visiting to Pakistan. They will leave for Nepal today, the report said.
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