Exports to China rising fast

[Mattrixx]

Shipments to China rose 14pc year-on-year to $458.11m in fiscal 2012-13
Sohel Parvez

Exports to China rising fastThe country’s exports to China are fast growing, thanks to the zero-tariff access extended in July 2010.
Currently, Bangladesh, as a least-developed country (LDC), gets duty free and quota-free entry for 4,788 products to the Chinese market, which, according to Bangladesh Tariff Commission, is 67 percent of the country’s export basket.
Exports to the world’s second largest economy stood at $178.63 million in fiscal 2009-10, the year before the duty privilege was extended. It shot up to $319.66 million in the following year, according to data from Export Promotion Bureau (EPB).
In fiscal 2012-13, exports to China stood at $458.11 million, up about 14 percent year-on-year.
“The growing export is a good sign. It means that confidence is building among Chinese buyers about Bangladeshi products,” said Fazlul Hoque, former president of Bangladesh Knitwear Manufacturers and Exporters Association.
The popular export items to China include readymade garments and textiles, fish and crabs, leather and leather goods, jute and jute yarn, plastic waste, according to EPB data.
“But the amount of export earnings is meagre given the huge Chinese market. Both the public and private sectors have to take the initiative to widen the market scope,” Hoque said.
Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association, said securing a good portion of China’s $310 billion apparel market would reduce the dependency of the garment sector, the main export earner, on Europe and the US.
“We are very optimistic that China will be our next market.”
Mustafizur Rahman, executive director of Centre for Policy Dialogue, said the zero-duty access has enhanced the competitiveness of Bangladesh’s products in the Chinese market.
“However, save for a small number of products, we are yet to reap the full benefits of China’s duty-free and quota-free scheme,” he said, while suggesting efforts to scale up exports of products other than garments.
Foreign investments targeting the Chinese market will also be helpful in boosting exports to China.



Exports to China rising fast - Shipments to China rose 14pc year-on-year to $458.11m in fiscal 2012-13

 

[Chinese-Dragon]

Great news.

We are trying to boost imports as a part of our new shift towards a consumption based economy.

So good news for both China and Bangladesh both. The future of Sino-Bangladeshi economic ties looks very bright.

 

[idune]

Unlike india China has given duty free access to almost all Bangladeshi products and export are going to increase many folds in future. Thanks to China for due consideration. Main obstacle at the moment is shipping because there was not enough volume going back to China. As Bangladesh export volume increases, direct shipping line would feasible. Also, if road connection can be established that will see Bangladesh export jump many folds.

 

[Saiful Islam]

China has always been very friendly and welcoming towards Bangladesh. Bangladesh China Zinbabad!

 

[mb444]

Good news. We need to encourage Chinese investment particularly in our manufacturing sector. BD is open for business and Brand Bangladesh must be advertised to all neighbours. I am hoping for more people to people contact, joint ventures and decreasing trade imbalance between our nations.

 

[romell99]

pk need to boost up BD PK trade.

 

[djsjs]

good cooperation

 

[Black Eagle 90]

Shipments to China rose 14pc year-on-year to $458.11m in fiscal 2012-13
Sohel Parvez

Exports to China rising fastThe country’s exports to China are fast growing, thanks to the zero-tariff access extended in July 2010.
Currently, Bangladesh, as a least-developed country (LDC), gets duty free and quota-free entry for 4,788 products to the Chinese market, which, according to Bangladesh Tariff Commission, is 67 percent of the country’s export basket.
Exports to the world’s second largest economy stood at $178.63 million in fiscal 2009-10, the year before the duty privilege was extended. It shot up to $319.66 million in the following year, according to data from Export Promotion Bureau (EPB).
In fiscal 2012-13, exports to China stood at $458.11 million, up about 14 percent year-on-year.
“The growing export is a good sign. It means that confidence is building among Chinese buyers about Bangladeshi products,” said Fazlul Hoque, former president of Bangladesh Knitwear Manufacturers and Exporters Association.
The popular export items to China include readymade garments and textiles, fish and crabs, leather and leather goods, jute and jute yarn, plastic waste, according to EPB data.
“But the amount of export earnings is meagre given the huge Chinese market. Both the public and private sectors have to take the initiative to widen the market scope,” Hoque said.
Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association, said securing a good portion of China’s $310 billion apparel market would reduce the dependency of the garment sector, the main export earner, on Europe and the US.
“We are very optimistic that China will be our next market.”
Mustafizur Rahman, executive director of Centre for Policy Dialogue, said the zero-duty access has enhanced the competitiveness of Bangladesh’s products in the Chinese market.
“However, save for a small number of products, we are yet to reap the full benefits of China’s duty-free and quota-free scheme,” he said, while suggesting efforts to scale up exports of products other than garments.
Foreign investments targeting the Chinese market will also be helpful in boosting exports to China.



Exports to China rising fast - Shipments to China rose 14pc year-on-year to $458.11m in fiscal 2012-13

So like BDs what Pakistan can export to China and its neighbouring countries...

 

[UKBengali]

Concrete evidence who BD's real friends are - exports from BD to China has increased 3 times in the last 3 years.

I am sure that the current figure of around half a billion dollars will increase to many billions towards the latter part of the decade.

Hopefully with diversification to other large markets like Russia and Brazil, BD will finally be able to reduce it's 80-90% dependence on Western countries for it's export earnings.

 

[cirr]

Good news。

BD should carry out an in-depth study of the Chinese market and export more，far more，to China，both agricultural produces and manufactured goods。

 

[BDforever]

Good news。

BD should carry out an in-depth study of the Chinese market and export more，far more，to China，both agricultural produces and manufactured goods。

another good news, soon BD is going to import onion from china leaving India. Keep it mind that onion is widely used vegetable in Bangladesh like can not imagine life without rice

 

[Chinese-Dragon]

another good news, soon BD is going to import onion from china leaving India. Keep it mind that onion is widely used vegetable in Bangladesh like can not imagine life without rice

Man we love onions, especially spring onions.

No Chinese meal is complete without onions, garlic and ginger.

 

[BDforever]

Man we love onions, especially spring onions.

No Chinese meal is complete without onions, garlic and ginger.

we have many common food culture, chinese restaurant is very popular in Bangladesh like after Bangladeshi food restaurant, Chinese restaurant ranks 2nd.

 

[Chinese-Dragon]

we have many common food culture, chinese restaurant is very popular in Bangladesh like after Bangladeshi food restaurant, Chinese restaurant ranks 2nd.

I heard Bangladeshis like to eat a lot of fish? We are crazy about fish as well, especially in the coastal areas. In fact all East Asians are crazy about fish.

Fish is good for your brain too, lots of Omega 3 fatty acids. The best thing for cognitive development.

 

[BDforever]

I heard Bangladeshis like to eat a lot of fish? We are crazy about fish as well, especially in the coastal areas. In fact all East Asians are crazy about fish.

Fish is good for your brain too, lots of Omega 3 fatty acids. The best thing for cognitive development.

yes we are crazy about fish, we can not imagine one day without fish

Let me tell you, Bangladeshis loves to eat, sometimes like entertainment LOL . Example: two friends talking:- friend1: we have nothing to do. friend2: lets go to restaurant and enjoy some foods . If you open a food restaurant in BD, i am sure you will always have big profit