Consolidating and accelerating exports in bangladesh
The growth rate of bilateral trade has achieved 36.6% in the first quarter of this year, with that of Bangladesh's export to China standing at 37.5%, which is quite encouraging.
More and more Chinese businessmen are willing to invest in Bangladesh and the growth rate of direct investment is accelerating.
With rich human resources, high level economic openness and preferential fiscal & monetary policies, Bangladesh has achieved strong economic growth in recent years.
China and Bangladesh are highly complementary in economy, and there is great potential for the two regional countries to deepen economic and trade cooperation.
Economic growth, usually measured by growth of gross domestic product (GDP), remains a dominant development objective.
The implication is that Bangladesh has the potential of accelerating its growth rate further so as to reach the rates achieved by countries such as Cambodia, Laos, China, India, and Sri Lanka with growth rates of about or above 7%.The report of 18th National Congress of the Communist Party of China (CPC) noted that "China will continue to promote friendship and partnership with our neighbors, consolidate friendly relations and deepen mutually beneficial cooperation with them, and ensure that China's development will bring more benefits to our neighbors".Inviting Bangladesh to participate the first China-South Asia Expo, China hopes to make full use of the respective advantages of the two countries, expand and deepen economic and trade cooperation, realize industrial docking and share development dividends, so as to achieve development and prosperity together.Currently, more than 4,700 items of Bangladesh-made goods enjoy duty-free facility when exported to China, and China is expected to further expand the facility in 2013 and gradually achieve the goal to cover 97% of the Bangladesh-made goods.We believe this initiative will provide strong support for Bangladesh friends to export Bangladesh-made goods to China.
China is the largest neighboring country of South Asia and has become the second largest economy in the world.