PM Sheikh Hasina to Inaugurate Trade and Investment Summit in Beijing During China Visit
Prime Minister Sheikh Hasina’s upcoming state visit to China is set to be a significant event for both countries. The trade and investment summit to be hosted in Beijing during her visit aims to boost Chinese investment in Bangladesh and address the trade imbalance that currently favors China.
With over 1,000 Chinese and Bangladeshi investors expected to participate in the summit, there will be various business sessions to discuss investment opportunities in Bangladesh. The goal is to attract Chinese investors to Bangladesh and encourage them to take advantage of the country’s potential for low-cost production and access to the Chinese market with duty-free facilities.
One of the key objectives of the visit is for Bangladesh to seek a $7 billion loan to support the trade sector, which will facilitate easier import of goods from China by opening Letters of Credit (LC). This financial support will not only benefit Bangladesh but also help in narrowing the trade gap between the two countries.
The summit, organized jointly by various ministries and organizations, will provide a platform for businesspeople from both countries to connect, explore investment opportunities, and strengthen economic ties. Bangladesh has identified 20 potential sectors to attract Chinese investors, and specific business offers will be highlighted at the summit to attract investments.
The potential for Chinese investors to shift their manufacturing industry to Bangladesh is also being discussed, as Bangladesh offers a large market for Chinese products and opportunities for low-cost production. The $7 billion fund support in the trade sector, possibly in Chinese currency Yuan, will further enhance trade relations between the two countries.
Overall, Prime Minister Sheikh Hasina’s visit to China and the trade and investment summit are expected to pave the way for increased economic cooperation, investment, and trade between Bangladesh and China. It is a significant step towards strengthening bilateral relations and creating mutual benefits for both countries.
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