BANGLADESH: Chinese delegation explores sourcing opportunities
Efforts to encourage Chinese investment in Bangladesh's textile and clothing sector, as well as boost bilateral trade between the two countries, got underway this week.
The China National Textile and Apparel Council (CNTAC) has signed two agreements with Bangladesh's apex apparel bodies, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).
Under the deals, the parties will co-operate each other in expanding trade, industrial development, exploring potential areas for investment and exchanging information on education, science and technology on a regular basis.
"Bangladesh's garment industry is booming and it has a very good future. So we're interested to join in the industry," Lin Yunfeng, deputy director of CNTAC, told reporters after the signing of the agreements.
"China itself is a huge market for Bangladesh and with its per capita income and standard of living, the need for clothing is also growing there," added BGMEA president Shafiul Islam Mohiuddin.
The visiting Chinese delegation has been urged to invest in the potential high value added products such as tailoring, as well as the spinning and weaving sectors.
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