The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has called for direct business-to-business engagement and joint investment between Bangladeshi and Chinese entrepreneurs to narrow the widening trade deficit between the two countries.

FBCCI Administrator Fazlul Hoque made the call at a meeting with a business delegation from the China Council for the Promotion of International Trade (CCPIT) at the chamber's Motijheel office on Monday afternoon.

Bilateral trade between Bangladesh and China stands at close to $20 billion, but the balance is heavily skewed against Dhaka, with Bangladesh exporting less than $1 billion worth of goods to China annually, he said.

Hoque urged entrepreneurs from both countries to jointly explore sectors with strong potential for bilateral trade, saying the CCPIT delegation's visit would not only expand two-way trade but also open up greater export opportunities for Bangladeshi products in the Chinese market, besides boosting mutual investment.

He assured the visiting delegation that FBCCI would remain proactive in supporting Chinese entrepreneurs doing business in Bangladesh.

In the open discussion, Bangladeshi business representatives invited Chinese entrepreneurs to consider joint investment in food processing, medical devices and accessories, pharmaceuticals and active pharmaceutical ingredients (API), renewable energy, and jute and jute goods, among other promising sectors.

He Tao, director of the Bureau of Commerce for China's Honghe region, expressed interest in deepening bilateral trade and investment, saying easing the import-export process between the two countries and unlocking new business opportunities remain among their key objectives.