The New Nation - Internet Edition

Staff Reporter

Bangladesh and China have agreed to reduce trade gap through providing duty free access to more Bangladeshi products, representatives of two countries discussed it yesterday.

Bangladesh has been given duty free access to 84 of its products under Asia Pacific Trade Agreement (APTA) but it could not avail the opportunity as very few of those products was in her basket.

Commerce Secretary Firoz Ahmed told The New Nation yesterday that during the meeting with the Chinese delegation he has reiterated duty free access of 74 more products, export of which can narrow the trade gap.

The buying mission led by Deputy Director General for Asia region Liang Wentao also agreed that the two countries should narrow the trade gap and to this effect they came to Bangladesh to see what products they can import from here, Firoz Ahmed informed.

The mission discussed increase of export of leather and leather goods, frozen food and raw jute alongside incorporation of new products in Bangladesh's export to China. They also discussed raising Chinese investment in Bangladesh's infrastructure, power, energy and some other sectors.

According to the statistics available, trade gap between China and Bangladesh is increasing day by day alongside increasing of latter's export. Bangladesh has imported Chinese goods worth USD 3,103.79 million and exported goods worth USD106.95 million during the fiscal year 2007-08. The last year's trade gap between the two countries rose to US$2996.84 million against its previous year's US$2444.17 million.