CCEA Approves Urea Import, Chinese EIZ in Chattogram

The Cabinet Committee on Economic Affairs (CCEA) today gave in-principle approval to three significant proposals, including the import of urea fertilizer and the establishment of the Chinese Economic and Industrial Zone (CEIZ) in Chattogram. The approvals came at the 18th meeting of the committee held at the Cabinet Division in the city with Finance Minister Amir Khosru Mahmud Chowdhury in the chair, where three proposals were placed for consideration. 

Of these, one proposal was submitted by the Ministry of Industries and two by the Prime Minister’s Office. According to official decisions of the meeting, the committee approved a proposal from the Ministry of Industries to import urea fertilizer from Russia through the direct procurement method in a move aimed at ensuring a stable supply of the essential agricultural input.

The committee also endorsed, in principle, a proposal from the Prime Minister’s Office regarding the Development Agreement and Land Lease Agreement signed with Bangladesh CEIZ Company Limited, a Special Purpose Company (SPC), for establishing the CEIZ at Anwara Upazila in Chattogram. The planned economic zone is expected to attract substantial Chinese investment, promote industrialization, create employment opportunities and strengthen economic cooperation between Bangladesh and China.

In another decision, the CCEA approved a proposal related to the establishment of a Free Trade Zone.  The approval covers the specific recommendations put forward by the Bangladesh Economic Zones Authority (BEZA) based on the findings of a committee report. The decisions are expected to facilitate foreign investment, enhance industrial development and support the country’s long-term economic growth strategy.