A two-day long first-ever China-Bangladesh Steel Business Summit-2024 is set to launch in Dhaka on Friday with a view to attracting more Chinese investments in the steel sector.

Bangladesh Iron and Steel Importers Association (BISIA) and China Alliance Exporters and Importers are jointly organising the summit at Radisson Blu Dhaka.

The organisations expect a significant number of local and foreign businessmen, entrepreneurs and investors, including over 50 Chinese businessmen, will attend the summit.

BISIA President Abujar Gefaree Jewel said that China Alliance Exporters and Importers President Gend Bo responded positively, and agreed to assist in organising the summit.

He said, “They are organising the first-ever summit on the steel sector in the country. This conference will encourage Chinese entrepreneurs to increase their investment here.” 

Steel is an important raw material for the construction sector, any other infrastructure and machineries. Most of the steel items are being imported from China to meet the local demand, Jewel added. 

BISIA General Secretary Alhaj Nasirullah said, “If Chinese entrepreneurs come forward in the steel sector, the economy will be stronger and more prosperous. Also, employment will be generated.”

The conference, running from 10:00 am to 6:00 pm, will also include B2B meetings, he added.   

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Director Amir Hossain Noorani said Prime Minister Sheikh Hasina will visit China on 8-11 July and such a business conference before her visit will strengthen China-Bangladesh bilateral trade and economic relations.

According to organisers, Chinese Ambassador to Bangladesh Yao Wen and FBCCI President Mahbubul Alam are expected to participate on the closing day of the conference.