Bangladesh waiting for Chinese consent: Tofail
UNB
Commerce Minister Tofail Ahmed yesterday said Bangladesh is waiting for Chinese consent to enjoy duty-free and quota-free (DFQF) market access on 97 per cent tariff lines in China.
Bangladesh has sent a letter of exchange to China as per WTOs decision. . . If China approves it, we would enjoy the facilities, the minister told journalists after a meeting with Chinese Ambassador Zhang Zuo at his secretariat office.
Mentioning that members of World Trade Organization (WTO) could avail such facilities between them, he said Bangladesh is getting DFQF from China for 5,074 items under Asia-Pacific Trade Agreement (APTA) but we have to drop benefit of APTA to enjoy facilities under the letter of exchange.
Besides, Bangladesh and China are working on Free Trade Agreement (FTA) and for this, both the countries have signed an MoU, said Tofail, adding, FTA would be needed for availing trade facilities
when Bangladesh will finally graduate from LDCs.
He also revealed Bangladesh has accepted the invitation to participate in the International Exporters Expo-2018 in Shanghai from November 5 to 10.
Replying to a query, he said: The next general election would be held as per the constitution and I believe BNP and all political parties would take part in it.
Commerce secretary Shubhashish Bose and additional secretary (FTA) M Shafikul Islam were present.
In another programme held in the capital recently, Chinese Ambassador in Dhaka Zhang Zuo has said the business and industrial communities are the major players for the Belt and Road Initiative (BRI).
Working together, we shall usher in a more prosperous era for China-Bangladesh cooperation, said the Chinese Ambassador while addressing at the Belt and Road Forum Bangladesh 2018.
He said contributions and wisdom of business and industrial communities are vital to win-win cooperation between China and Bangladesh.
Citibank, N.A., Bangladesh hosted the event underlining Citis commitment to support Bangladesh, global clients and investors with the opportunities offered by the BRI, said a press release yesterday, reports UNB.
Principal Coordinator, SDGs Affairs, Prime Ministers Office M Abul Kalam Azad and key stakeholders from the government and private enterprises attended it.
Abul Kalam in his keynote presentation provided a detailed overview of the economy and the investment opportunities in Bangladesh.
James Morrow, Citi Sub-Cluster Head, for Bangladesh Sri Lanka outlined why Citi is focusing on One Belt One Road (BRI) initiative.
The BRI is an attempt to foster trade and investment with an inter-continental scope. Citi has banking franchises in most of the BRI countries, including Bangladesh, and seeks to support its clients through a full range of banking solutions as they participate in the BRI initiative.
Bangladesh with its excellent growth track-record and prospects offers good opportunities to foreign investors.
Managing Director and Citi Country Officer, Bangladesh N Rajashekaran said they are banking with clients in 58 BRI markets, more than any other bank globally and they have over 100 years of history of operating across the countries along the Belt and Road.
We look forward to continuing our tradition of serving our clients by enhancing connectivity and facilitating the entry and operations of foreign investors in Bangladesh, Rajashekaran said.
