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Bangladesh-China trade relations is in a new height

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October 10, 2000 

Dhaka, -- (UNB) – Urging China to invest with hundred percent equity, Industries Minister Tofail Ahmed has said trade and investment relations between Bangladesh and China have reached a new height with a number of joint-venture projects going to be implemented in Bangladesh.

He made the remarks when a 15-member Chinese trade and investment delegation met him at his office yesterday.

The team, led by Deputy Director General of Foreign Economic Cooperation Department (FECD) of China Wu Xilin, comprises personnel of FECD, EXIM Bank of China, Chemical and Manufacturing Corporation and Chinese Chmaber of Export and Import.

Tofail said the government emphasises construction of a urea plant in Sirajganj to ensure easier distribution of the agri-input in northern part of the country and requested the team to convince the Chinese government to provide 10-15 percent grant for early appraisal of the project.

“We are encouraged at the feasibility report of this project and have prepared ourselves to take up the 300-million dollar project,” Tofail told the Chinese team.

He said Bangladesh is negotiating with China for two priority projects for the conversion of frilled urea produced in Ashuganj Fertilizer Factory to granular urea and BMRE of Polash Urea Factory.

Tofail said Chinese companies have also shown interests in BMRE of Karnafuli Paper Mills and installation of a paper mill in Sylhet Pulp and Paper Mills.

“Apart from these joint-venture projects, China is also welcome to invest with 100 percent equity,” he said adding that Bangladesh is offering the best incentive package in the region and creating a congenial environment and vibrant export market.

In response, the Chinese delegation leader said the bilateral economic cooperation between the two countries has been developing at a faster rate in recent years.

The representatives of China EXIM Bank enquired about the project approval procedure and contact authority in Bangladesh to deal with financial transaction.

The delegation gave a positive hint about grant for the North Bengal Urea Plant.

The minister appraised the delegation of the approval procedure and assured them of full cooperation in speedy completion of the process.