Even if China is mulling to increase the duty benefit offered to ‘Made in Bangladesh’ products from the current 98 per cent to 99 per cent, Bangladesh has not been able to make the most of the Chinese trade benefit so far owing to its narrow export basket.
Media reports maintained this citing people in know of things.
“We cannot exploit the Chinese duty benefit unless and until we can grow our product basket,” reportedly, maintained the Research Director of Policy Research Institute (PRI) MA Razzaque, speaking to the media.
So, on one hand if enhancing product offerings can open further opportunities to increase exports to China, experts have also called for trying to attract Chinese investments to Bangladesh to try compensating for the same.
Many Chinese companies are looking for alternative manufacturing bases for the contentious trade relationship with the US, opined Razzaque while adding that the Chinese Government also wants local companies to shift their production bases to other countries like Bangladesh so that they remain immune from any such volatility owing to the trade war with the US.