china: China is the largest trading partner of Bangladesh and bilateral trade reached 18.74 billion in 2018, according to Global Times China. But Bangladesh has a huge trade deficit with China. However, economic relations between the friendly nations are the most significant aspect of their ties, which were elevated to a strategic partnership of cooperation in 2016. The China-proposed Belt and Road Initiative BRI has created great opportunities for Bangladesh to reduce the trade gap with China. Economists are of the view that as an important partner of the initiative, Bangladesh can also study the feasibility of a Free Trade Agreement with China which can be an effective tool for reducing the trade deficit. Under the BRI, Bangladesh can diversify its exports to the Chinese markets as Beijing is now more open to lift many tariff and non-tariff barriers.
(news.financializer.com). As
reported in the news.
Tagged under china, trade deficit topics.