As Bangladesh faces crucial hurdles in benefitting from duty-free market access to China due to several systemic and strategic issues, business leaders emphasise the necessity of signing a free trade agreement (FTA) with China to boost exports.
As Bangladesh faces hurdles in gaining from duty-free market access to China, business leaders emphasise the need for signing an FTA with China.
A study found critical barriers preventing Bangladesh's export growth to China include over-reliance on garments; lack of integration with Chinese retailers; and stringent Chinese labelling and packaging regulations
Bangladesh could potentially earn an additional $27 billion by exporting quality and diversified goods to China, provided its market share increases to 1 per cent, a recent study by the Research and Policy Integration for Development (RAPID) revealed.
As Bangladesh faces hurdles in gaining from duty-free market access to China, business leaders emphasise the need for signing an FTA with China.
A study found critical barriers preventing Bangladesh's export growth to China include over-reliance on garments; lack of integration with Chinese retailers; and stringent Chinese labelling and packaging regulations
However, critical barriers preventing this growth are Bangladesh's heavy reliance on the readymade garment (RMG) sector; lack of integration with Chinese retailers; insufficient participation in marketing, sales and after-sale services; cultural and language barriers; and stringent Chinese labelling and packaging regulations, the study report said.
As Bangladesh faces hurdles in gaining from duty-free market access to China, business leaders emphasise the need for signing an FTA with China.
A study found critical barriers preventing Bangladesh's export growth to China include over-reliance on garments; lack of integration with Chinese retailers; and stringent Chinese labelling and packaging regulations
RAPID chairman MA Razzaque said China prefers high-quality garments from Italy and other European countries, importing such products worth around $10 billion annually. Bangladesh must diversify its exports and improve product quality to penetrate the Chinese market.
As Bangladesh faces hurdles in gaining from duty-free market access to China, business leaders emphasise the need for signing an FTA with China.
A study found critical barriers preventing Bangladesh's export growth to China include over-reliance on garments; lack of integration with Chinese retailers; and stringent Chinese labelling and packaging regulations
He emphasised the need for aggressive policies, including attracting China-oriented investments and signing trade agreements, according to Bangladesh media reports.
As Bangladesh faces hurdles in gaining from duty-free market access to China, business leaders emphasise the need for signing an FTA with China.
A study found critical barriers preventing Bangladesh's export growth to China include over-reliance on garments; lack of integration with Chinese retailers; and stringent Chinese labelling and packaging regulations
Chinese products also often have lower price than similar-quality products from Bangladesh, he noted. The rising e-commerce sector in China is another challenge, as entrepreneurs in Bangladesh need better skills to effectively tap this market.
As Bangladesh faces hurdles in gaining from duty-free market access to China, business leaders emphasise the need for signing an FTA with China.
A study found critical barriers preventing Bangladesh's export growth to China include over-reliance on garments; lack of integration with Chinese retailers; and stringent Chinese labelling and packaging regulations
Encouraging Chinese investors to set up manufacturing hubs in Bangladesh could be a strategic move, Razzaque suggests.
As Bangladesh faces hurdles in gaining from duty-free market access to China, business leaders emphasise the need for signing an FTA with China.
A study found critical barriers preventing Bangladesh's export growth to China include over-reliance on garments; lack of integration with Chinese retailers; and stringent Chinese labelling and packaging regulations
Al-Mamun Mridha, general secretary of the Bangladesh China Chamber of Commerce and Industry (BCCCI) said some Chinese investors are indeed considering shifting their manufacturing units to Bangladesh.
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