Visiting representatives of over ten Chinese companies signed purchase contracts with their Bangladeshi counterparts to import Bangladesh commodities worth about US$53 million on Sunday.

 

The company representatives joining a Chinese trade delegation led by Assistant Minister of Commerce of China Wang Chao, will mainly purchase leather, jute products and seafood.

 

This is part of Chinese efforts in reducing the imbalance of trade between the two countries.

 

It has been the biggest purchase delegation ever to Bangladesh with over 10 companies listed in China's top 500 and some of them in world's top 500, Wang Chao said when meeting with Bangladesh officials.

 

The bilateral trade has grown rapidly with an average rate of over 30 percent in the past five years, Wang said. It reached a record level of about US$3.2 billion in 2006, with Bangladesh's export to China amounting about US$8.8 million.

 

China will continue its efforts to reduce the trade gap between the two countries, as the government is concerned about the issue, Wang said.

 

More competent Bangladesh enterprises are welcomed to invest in China and to attend the Guangzhou Chinese Import and Export Commodities Fair to show Bangladesh's various products to Chinese people, Wang said. Besides, China will provide free stalls in the annual Commodities Fair to developing countries including Bangladesh, he added.

 

The Chinese economic and trade delegation arrived in Dhaka on Saturday for a three-day visit after visiting Pakistan. They will leave for Nepal on Monday.

 

(Xinhua News Agency July 23, 2007)