Chinese Ambassador to Bangladesh, Yao Wen, recently emphasized that the proposed free trade agreement (FTA) between Dhaka and Beijing could significantly help reduce inflation in Bangladesh by lowering the prices of goods imported from China.
“Once the FTA is signed, the overall tariff on Chinese goods entering Bangladesh will drop considerably, leading to a reduction in import prices. This will immediately help alleviate inflation in Bangladesh,” the ambassador remarked during a seminar titled “China-Bangladesh Free Trade Agreement: A Mutually Beneficial and Win-Win Choice.” The event was organized by the Chinese embassy in collaboration with the Bangladesh China Chamber of Commerce and Industry (BCCCI) and the Chinese Enterprises Association in Bangladesh (CEAB) on Sunday evening.
Ambassador Yao Wen also stated that Beijing is eager to finalize the feasibility study of the China-Bangladesh FTA soon. He added that China aims to officially start negotiations within this year, with the goal of concluding them before 2026 and establishing a bilateral free trade zone.
“The early signing of the China-Bangladesh FTA will undoubtedly usher in a new era of mutual benefit and cooperation, marking a golden period of economic and trade collaboration between our two nations,” he said.
The ambassador further highlighted that the FTA would enhance the convenience and efficiency of Chinese investments in Bangladesh. This, in turn, would contribute to job creation, industrial upgrades, and export diversification in Bangladesh.
“With the China-Bangladesh FTA poised to provide a top-level framework for bilateral cooperation, our economic and trade relations are set to experience more sustainable, stable, and healthy development,” he added.
He also noted that signing FTAs with other countries is a critical step for Bangladesh to achieve its Vision-2041. The ambassador mentioned that earlier this year, Bangladesh successfully held its general election, and the new government’s top priority is to achieve stable economic development and graduate from the Least Developed Countries (LDC) category.
“Signing FTAs with other countries is therefore regarded as a crucial way to achieve these goals,” he emphasized.
State Minister for Commerce, Ahasanul Islam Titu, attended the seminar as the chief guest, highlighting various aspects of the bilateral relationship between Bangladesh and China. Other notable speakers included Dr. Mohammad Abdur Razzaque, Chairman of RAPID; Al Mamun Mridha, Secretary General of BCCCI; and Ke Changliang, President of CEAB.
