Home / Knowledge / News / Apparel/Garments / Dhaka to gain more from FTA with Beijing: Chinese academic

Dhaka to gain more from FTA with Beijing: Chinese academic

13
Sep '19
Pic: Shutterstock
Pic: Shutterstock
A China-Bangladesh free trade agreement (FTA) can make more Bangladeshi products exempt from tax, alleviate bilateral trade deficit and offer a sound foundation for constructing the Bangladesh-China-India-Myanmar economic corridor, according to Cheng Min, professor at the Institute for Bangladesh Studies of the Yunnan Academy of Social Science in Kunming.

She gave an overview of the feasibility and countermeasure analysis of signing the China-Bangladesh FTA and allayed possible concerns while speaking at an international conference on the belt and road initiative (BRI) in Dhaka recently.

In October 2016, during Chinese President Xi Jinping visit to Bangladesh, the two sides agreed to launch a feasibility study on bilateral free trade area. Bangladesh also joined his flagship BRI during that visit.

Bangladesh does not have free trade agreement with any country. The bilateral trade of $16.4 billion in 2017 grew with an average annual growth of 20 per cent since 1975 when China established diplomatic ties with Bangladesh. It is heavily in favour of China. In 2018, China's direct investment in Bangladesh was $228 million.

The trade integration index between the two countries also shows that Bangladesh has a great dependence on Chinese goods and a huge export potential to China, Cheng said. She suggested establishing a list of early harvesting projects, the first being cooperation in garment manufacturing.

The two countries can sign a framework agreement on cooperation in textile and garment industry, Bangla media reports quoted the academic as saying.

She also urged China to offer Bangladesh tax-free preferential policies for more products, including polymer products, gloves, silk, cleaning cloth, leathers, lead-acid batteries and synthetic fibres. The proportion of clothing with zero-tariff policy should increase from 90 per cent to 100 per cent to alleviate Bangladesh's expanding bilateral trade deficit with China, she added. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Marek Uliasz | Dreamstime.com

Textiles | On 29th Nov 2021

New variant heightens global economic uncertainty

Just as everyone thought that things are slowly moving back to...

Pic: Pawel Pszczola | Dreamstime.com

Textiles | On 29th Nov 2021

Chinese factories to get uninterrupted power supply in winter: NDRC

Factories in China are likely to get an uninterrupted power supply...

Pic: Andy Nowack | Dreamstime.com

Textiles | On 29th Nov 2021

US textile & apparel exports up 20.15% in Jan-Sept 2021

The exports of textile and apparel from United States increased by...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Akram Tariq Khan,

Akram Tariq Khan

E-commerce brand YourLibaas meaning "garment or attire" in Udru, was...

Chini Chouhan,

Chini Chouhan

Founded by Chini Chouhan, her eponymous brand specialises in women's...

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Seth Casden, Hologenix

Seth Casden
Hologenix

Hologenix is a material sciences company dedicated to developing products...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search