Set up industry in Bangladesh, Dhaka tells Chinese investors

Yuxi City (Yunnan), June 10 (UNB) – Bangladesh has said Chinese entrepreneurs, especially investors from Yunnan Province, can maximise their profits by setting up industries in Bangladesh taking the advantage of proximity and getting access to huge direct and indirect markets within and beyond Bangladesh. 

“Bangladesh’s strategic location and duty -and- quota free access of its products to a number of developed markets have made Bangladesh a very attractive place to set up industries,” said Bangladesh Ambassador to China M Fazul Karim on Monday.

He said Bangladesh has a direct market of over 160 million people with extended markets in other South Asian countries, including India.

The ambassador mentioned areas like steel production, agro processing, light engineering, pharmaceuticals and car manufacturing where Chinese investors can explore opportunities.

“Investment in Bangladesh creates a direct market access of 160 million people,” he said, adding that such investment gives access to other big markets through Bangladesh. 

Ambassador Karim was addressing the inaugural session of the two-day second China-South Asia Cooperation Forum (CSACF) here at the lakeside of Fuxian Lake in the afternoon. 

Governor of Yunnan Province Ruan Chengfa, ministers and representatives from Nepal, Afghanistan, Myanmar, the Maldives, Pakistan; and Chairman, Center for Promotion of India-China Cooperation and Cochairman of Indian Chamber of Commerce (Northeast) Mahesh K Saharia, among others, spoke. 

The Bangladesh envoy said there are opportunities to export more products in Chinese market with export basket diversification in Bangladesh. 

Because of proximity, he said, Yunnan can import high quality Bangladeshi fruits and vegetables. 

Highlighting investment facilities in Bangladesh, the ambassador said Chinese entrepreneurs can comfortably invest in special economic zones as the government is setting up 100 such zones across the country. 

He said China is not only a dependable friend of Bangladesh but also an important development partner and the two countries are working together for global peace and prosperity. 

Ambassador Karim hoped that the Forum will help expand relations between Bangladesh and China, and other South Asian countries on all fronts, not just in business and economic sectors.

He said Yunnan Province has the true potential to lead such cooperation. 

Governor Chengfa said Yunnan is an economic and cultural link between China and South Asian countries and the people. “It’s also a major provincial player in China-South Asia Cooperation.”

The second China-South Asia Cooperation Forum is themed on “Stronger Sub-National Partnership for Win-Win Opportunities.” 

The Forum is focusing on economy and trade, poverty reduction, BCIM regional cooperation, media and other issues. 

“The Forum is of critical importance to improve the quality of our cooperation,” said the Yunnan Province Governor. 

As the saying goes, he said, “Divided, we fall, united, we stand and I believe that as long as we work together towards the same direction, and adhere to concrete cooperation, we’ll certainly be able to see more outcomes be reached in the Forum and to make more solid progress in promoting future cooperation.”

The Governor hoped that all parties will jointly explore and build poverty reduction cooperation demonstration zones, scale up beat practices and promote a balanced and high quality economic and social development in the region.