Chinese Governmental Economy and Trade Delegation led by Assistant Minister of Commerce of China, H. E. Mr. Wang Chao visited Bangladesh from July 21 to 23, 2007 to promote Sino-Bengali bilateral trade balance and cooperation.

    China and Bangladesh are friendly neighboring countries with profound friendship in tradition. Recently, under the common concern of the leaders and joint efforts of the entrepreneurs from both countries, the Sino-Bangladesh trade relation keeps progressing. In 2006, the bilateral trade volume reached $3.2 billion, a year on year increase of 29%. From January to May, 2007, the bilateral trade volume maintained a momentum of increase and reached $1.3 billion, an increase of 3.5% of the same period last year, and a $1.2 billion trade surplus on Chinese side. The Chinese government attaches great importance to the current trade unbalance between the two countries. In recent years, several commodity purchasing teams have been dispatched by the Chinese Government to Bangladesh, which have played a positive role in balancing the bilateral trade. With 10 enterprises from the top 500 in China, the size and strength of this delegation surpass that of all the previous ones, which embodies the determination and sincerity of the Chinese government to strive for the balancing of bilateral trade. During this visit, the Chinese entrepreneurs actively conducted trade talks with Bangladeshi counterparts, and expanded the import of Bangladeshi preponderant commodities including jute yarn, leather, seafood and cotton yarn. The related purchase volume reached $53 million.

    Great complementarities exist in Sino-Bengali economies and it is in the long-term interests of the two countries to draw merits from each other and build win-win trade cooperation for the mutual benefit. The Chinese side will in no way seek for large trade surplus. Instead, it hopes the bilateral trade will reach a relative balance and realize a healthy growth with the development of trade relationship. The Chinese government will continue adopting positive measures to encourage Chinese enterprises to expand import from Bangladesh, and promote the healthy and steady trade growth between the two countries.