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Chinese investors show interest in bangladesh silk market

Chinese investors show interest in bangladesh silk market Source: www.adsaleata.com
Date: 02-01-2013
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A Chinese delegation visited Bangladesh recently to explore the potential of the silk market in the country. As local silk industry is expected to get a boost, the delegation showed interest to invest in the sector, according to thefinancialexpress-bd.com, a Bangladesh financial newspaper.

The high-powered delegation from the China Chamber of Commerce for Export and Import of Textiles (CCCT) expressed the interest during a discussion with the leaders of the Bangladesh.

Garment Manufacturers and Exporters Association (BGMEA) and the Silk Manufacturers and Exporters Association of Bangladesh (SMEAB).

The eight-member Chinese delegation, headed by CCCT Vice-Chairman Zheng Xinmin, also included silk cultivators and representatives from finance and commerce ministries.

The purpose of the Chinese delegation's short visit was to explore the potential of the Bangladesh local silk sector, joint venture investment in silk production, facilities offered by the Bangladesh government for foreign investors, and duty structure for raw material and machinery import.

"Bangladesh has huge potentiality, as labour cost is relatively low here, which is significantly increasing in China," said Alauddin Ahmed, SMEAB President. "We welcome foreign investment in mulberry silk production. Chinese investment will help the sector to grow further by using modern technology, necessary for upgradation of traditional system of local silk production."

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