DCCI seminar calls for preparations without delay
Experts and businesses on Saturday (Nov. 17) said that Bangladesh would be immensely benefited in the area of export, import and investment from the ongoing trade war between the US and China if the country (Bangladesh) could prepare itself without any delay to utilise the potential.
Due to the trade war, many buyers of readymade garments were turning back to Bangladesh from China and it also created a scope for relocation of factories from China to Bangladesh, they said.
They said this at a seminar on ‘trade war and its implications for Bangladesh’ jointly organised by Dhaka Chamber of Commerce and Industry and Bangladesh Foreign Trade Institute at DCCI auditorium in the city.
The trade tension also shifted the export order of RMG more to Vietnam, Cambodia and even to Myanmar than to Bangladesh.
Moreover, depreciation of currencies of different counties including China against dollar would make Bangladeshi products less price competitive, BFTI chief executive officer Ali Ahmed said in his keynote presentation.
He also showed that due to the trade war prices of US cotton dropped by 10 per cent and Bangladesh could avail the advantage while at the same time depreciation of Chinese currency would make imports from China less costly.
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