Call to strengthen institutional ties to boost Bangladesh-China trade

Experts and business leaders have called for strengthening institutional relations between government and private organizations of Bangladesh and China to boost bilateral trade. During a recent discussion in Dhaka, they highlighted that despite long-standing trade ties, certain hurdles still hinder smooth business operations between the two nations.

Currently, Bangladesh enjoys duty-free access for various products in the Chinese market. However, due to a lack of proper promotion and institutional initiatives, Bangladeshi exporters are unable to fully capitalize on this opportunity. Experts believe there is significant potential to export leather, jute, and agricultural products alongside ready-made garments.

Business leaders suggested that regular meetings and trade fairs should be organized between the chambers of commerce and trade bodies of both countries. This would allow new entrepreneurs to easily understand each other's market demands. Additionally, they demanded simplifying banking and transaction systems to facilitate smoother trade.

Analysts believe that stronger institutional ties between Bangladesh and China will play a vital role in boosting the national economy. Attracting more Chinese investment could create new employment opportunities. However, timely implementation of trade agreements and improving the overall business environment remain key challenges.