Bangladesh eyes mutual benefit from FTA with China: Titu

State Minister for Commerce Ahasanul Islam Titu has said Bangladesh is keen to ensure mutual benefits after signing of free trade agreement (FTA) with China.

“We want to move ahead with FTA. There is no doubt about it. We have to make sure that our partnership is mutually beneficial,” he said.

The state minister was speaking at a seminar titled “China-Bangladesh Free Trade Agreement: A Mutually Beneficial and Win-Win Choice” at the Chinese mission here on Sunday evening.

The seminar was organised by the Chinese embassy to Bangladesh in collaboration with Bangladesh China Chamber of Commerce and Industry (BCCCI) and Chinese Enterprises Association in Bangladesh (CEAB).

Chinese Ambassador to Bangladesh Yeo Wen also spoke on the occasion.

The state minister said Bangladesh is now considering 26 countries to sign different types of trade agreements, including the Comprehensive Economic Partnership Agreement (CEPA), preferential trade agreement (PTA) and FTA.

He said Dhaka’s priority is to increase employment opportunities and investment through the signing of FTA with China.

“Our relationship is getting stronger day by day. The two countries can move forward with a political will for the development of people,” he added.

He also said Dhaka and Beijing have a look at Bangladesh-China relations in a comprehensive way to overcome any impediment.

“We want more trade and more investment with China so that we can grow further,” Titu said.

The Chinese ambassador said the under discussion free trade agreement (FTA) between Dhaka and Beijing will help reduce inflation in Bangladesh decreasing tariff of goods imported from China as the deal will lead to a decline in import prices.

“Overall tariff on goods imported from China to Bangladesh will significantly decrease after the signing of the FTA, leading to a reduction in import prices. This will have an immediate effect on alleviating inflation in Bangladesh,” he said.

The Chinese envoy said Beijing stands ready to work together with Bangladesh to announce the conclusion of the feasibility study of the China-Bangladesh FTA in the near future.

China also strives to officially initiate negotiations within this year, so as to conclude the negotiations before 2026, commencing the building of a bilateral free trade zone, he added. (BSS)