Even as the Chinese Ambassador to Dhaka Li Jiming dispelled any fear of supply chain disruption due to Coronavirus outbreak in his country which could adversely impact local businesses in Bangladesh especially the leather sector that is dependent on China to a large extent for raw materials, Commerce Minister Tipu Munshi recently underlined that his Government was worried to some extent over the Coronavirus outbreak in China as it might disrupt the local supply of raw materials for industrial output.
“We are somewhat worried over the Coronavirus outbreak in China and are observing the overall situation. It is still early to predict the actual type of disruption that may take place,” said the Commerce Minister after the inauguration of the three-day International Fire Safety and Security Expo-2020 at the Bangabandhu International Conference Centre in Dhaka while adding that his ministry was due to get a report on the possible impacts of the Coronavirus outbreak on local trade and businesses from the business community on 16 February.
“It was a matter of concern that we would be unable to shift to alternative market sources for raw materials and equipment soon,” further said Munshi, adding, “Hopefully we will find alternative markets for raw materials but we need time and approval from buyers.”