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Published on October 4, 2015
Two industrial parks are currently under construction. One in south Chittagong on 774 acres of land and another in south Dhaka that will attract US$ 2-2.5 billion Chinese investment.
The second one will be in collaboration with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) with less than 500 acres of land which will create 200,000-250,000 new jobs in Bangladesh, said the diplomat.
Ambassador Ma, however, thinks only two industrial parks may not be enough as Bangladesh needs many more many parks to make the best use of advantage. “All the Chinese investors are very interested to get place inside the special economic zone. They’re competing with each other.”
Addressing the huge trade gap the ambassador said, “At this moment the trade gap cannot be addressed solely or single handedly by trading because Bangladesh is not producing enough products to compete with China. The Chinese diplomat laid emphasis on the idea of re-export from Bangladesh to China and the global market.
Not only readymade garment, Bangladesh can also export fresh fruits like mangoes, seafood, huge marine and agro products, he said adding that China is a huge market and Bangladesh can explore it eyeing newer areas.
He said both China and Bangladesh need to look for some other approaches like encouraging more Chinese investment to come to Bangladesh that will help reduce the gap.
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