[🇧🇩] China is a Time Tested Friend and a Strategic Partner of Bangladesh

[Saif]

China wants to make solar panels in Bangladesh

Chinese Foreign Minister Wang Yi says while meeting with Chief Adviser Muhammad Yunus in New York

www.thedailystar.net

China wants to make solar panels in Bangladesh

Photo: CA Office

China, the world's largest solar power producer, wants to invest in the production of solar panels in Bangladesh, Chinese Foreign Minister Wang Yi told Prof Muhammad Yunus, chief adviser to the interim government, on Wednesday.

Meeting on the sideline of the UN General Assembly in New York, he said China would attach importance to Prof Yunus's call to Chinese solar panel manufacturers to set up factories in Bangladesh.

The chief adviser had urged this when the Chinese ambassador to Bangladesh paid a courtesy call on him last month.

Yunus told Wang Yi that Chinese solar companies could invest in a bigger way in Bangladesh, which enjoys preferable market access to many developed nations.

Currently, China has a total of 609,921 megawatts of installed solar power plants, which is the highest across the globe

Currently, China has a total of 6,09,921 megawatts (MW) of installed solar power plants, which is the highest across the globe, according to data of International Renewable Energy Agency (IRENA).

In contrast, Bangladesh installed 603MW solar plants so far, according to data of Bangladesh Power Development Board.

Bangladesh entered its renewable energy era in 2017 with the launch of a 3MW solar power plant in Jamalpur's Sharishabari. But since then, the progress in increasing renewable energy installations has been very slow.

Though the country has plans to meet around 30 percent of its power demand from clean energy by 2030 and 40 percent by 2040, the capacity is still at around 3 percent or 893MW, including energy generated from wind and hydroelectric power plants.

In Mujib Climate Prosperity Plan 2022-2041, submitted in the Conference of Parties (COP26), the renewable energy capacity target for 2030 had been set at 6,000MW-16,000MW.

This means, the country will have to generate about 5,100MW of electricity from renewable sources in the next six years to attain even the lowest committed amount.

Currently, the country has a capacity to produce around 27,000 MW of electricity mostly from fossil fuel-based plants, a key contributor of global warming.

GREATER TRADE TIES

Wang Yi said Beijing would also encourage greater cooperation and partnership between businesses of the two nations to deepen trade and economic ties with Dhaka.

He said Bangladesh would benefit from a Chinese decision to provide zero tariff access to all goods from the least developed countries.

He said the Red Cross Society of China has sent a team of doctors to treat students and people who were grievously injured during the July-August mass uprising. Wang Yi also said China would welcome more students from Bangladesh.

Wang Yi described Prof Yunus as "an old friend of the Chinese people" and congratulated him for assuming leadership of the interim government.

"We have full confidence in you, that you will live up to the expectations of the people," he said, adding that Yunus would also unite the country.

Prof Yunus thanked China and lauded Chinese efforts to lift hundreds of millions of people out of poverty.

The chief adviser stressed on closer relations with China and opening "a new chapter" in the ties between the two nations.

He also urged other Chinese product manufacturers to relocate their factories to Bangladesh and engage in technological collaborations. "We will love to collaborate with Chinese companies. We have a lot of scope to work together," he said.

China Committed to Bilateral Relations

Meanwhile, Chinese Ambassador to Bangladesh Yao Wen said irrespective of the changes that have taken place inside Bangladesh, China's commitment to developing bilateral relations remains unchanged, reports news agency UNB.

China sincerely hopes that under the interim government, Bangladesh will carry out state reform, maintain political stability, advance economic development and improve people's livelihoods, he said.

To support Bangladesh's development, China decided to grant zero-tariff treatment on 100 percent of taxable items from Bangladesh, he told an event at a hotel in Dhaka on Wednesday marking the 75th anniversary of the founding of China.

This means China will substantially increase import of cereals, sugar, edible oil, rubber and rubber products, wood products, jute and jute products, paper and paper products, wool and cotton from Bangladesh from December 1, 2024, said Yao Wen.

China will also import Bangladeshi mangoes, he added.

To combat floods, China is about to provide rescue facilities and equipment to Bangladesh, he said.

Yao Wen said since the interim government came to office, Chinese enterprises have invested more than $85 million in Bangladesh.

He said China would organise programmes focusing political exchange, economic and trade cooperation, culture, education, tourism, sports, public health, youth, women, media and academic interactions for improving people-to-people ties.

"I expect the young people to devote themselves to China-Bangladesh cooperation, passing the torch of friendship from generation to generation," he said.

Commerce and Finance Adviser Dr Salehuddin Ahmed joined the event as chief guest while Foreign Secretary Md Jashim Uddin was also present.​

 

[Saif]

Shipping lines getting interested in Bangladesh-China route

Different shipping lines are showing interest in expanding their services to directly connect and quickly transport cargo between the Chattogram port in Bangladesh and those in China, the biggest source for local imports.

www.thedailystar.net

Shipping lines getting interested in Bangladesh-China route

At least 10 shipping lines are currently operating services between Bangladeshi and Chinese ports, either independently or through joint ventures. The photo was taken near Chattogram port recently. Photo: Rajib Raihan

Different shipping lines are showing interest in expanding their services to directly connect and quickly transport cargo between the Chattogram port in Bangladesh and those in China, the biggest source for local imports.

This year, two leading shipping lines have gone for the expansion and resumption of services while a new consortium introduced a direct service.

Bangladesh imported goods worth $17.8 billion from the world's second-largest economy in fiscal year (FY) 2022-23 while exporting goods worth $677 million, according to official data.

The previous year it was $20.87 billion and $683 million respectively. The trend over the years shows that bilateral trade is heavily tilted toward China.

Stakeholders said directly connecting with Chinese ports reduces transportation time by around 50 percent from what it takes when vessels make stopovers at transhipment ports in Singapore and Malaysia.

At least 10 shipping lines are currently operating several services between Bangladeshi and Chinese ports, either independently or through joint ventures.

In June this year, Mediterranean Shipping Company (MSC), a leading global container shipping line, resumed its Bengal service deploying six vessels.

The vessels connect Ningbo and Chattogram via Shanghai and Qingdao.

The MSC had introduced this service in 2022 including the transhipment ports of Singapore and Malaysia. The ships stopped calling on the Chinese ports after running for a year.

According to the MSC, the ships are now directly coming to the Chattogram port from the Chinese ports whereas on the return voyage, they are connecting Singapore.

AP Moller-Maersk (Maersk) launched a new ocean shipping service named SH3 to facilitate the growing trade volume between China and Bangladesh. It already had three other services -- SH1, SH2 and IA7.

However, only one trip was run. The service was halted for the time being as the volume of goods was too low following political turmoil in Bangladesh in July and August.

Maersk officials hope for the SH3 service to be resumed soon once the country's foreign trade returns to normalcy.

In another move, Singaporean shipping company Pacific International Lines (PIL) formed a consortium with Interasia Lines and SL Shipping to launch a service called China Chittagong Express (CCE) to directly connect the ports of Bangladesh and China.

On the first voyage, vessel Kota Anguun started off from the Ningbo port on August 31 and stopped at Shanghai and Shekou before reaching the Chattogram port on September 16.

It took nine days to travel from Shekou to Chattogram.

Ahsan Habib, head of operations at the PIL, said through this service, goods can be directly transported from China to Chattogram in nine to 15 days as the ships do not stop at the transhipment ports in Singapore or Malaysia.

Even on the return voyage, the ships would directly sail for Ningbo, he said.

China is a major source for the import of different types of items, including machineries, accessories, commodities as well as raw materials for readymade garment and other industries in Bangladesh.

Around 70 percent of the raw materials of the readymade garment industry are imported from China.

In August, a total of 1.14 lakh twenty-foot equivalent units (TEUs) of import-laden containers and over 8,000 TEUs of empty containers arrived at the Chattogram port.

Muntasir Rubayat, a director of Bangladesh Shipping Agents Association (BSAA), said it was difficult to estimate the exact volume of containerised imports coming directly from China.

A good number of these imports are transported via transhipment ports in Singapore and Malaysia, he said.

According to officials of different shipping lines, close to 60 percent of the total containerised imports bound for Bangladesh comes from China.

They said a good portion of these imports from China are now being transported through direct services offered by different shipping lines.

Data collected from shipping lines show that over 41,000 TEUs of import-laden containers arrived directly from China in August.

Nasir Uddin Chowdhury, chairman of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the direct shipping services between the two countries would significantly benefit garment exporters.

It will take less time for them to receive the imported raw materials, he said.

Since the export oriented RMG sector works under a timeframe, any sort of savings in time in the supply chain would help the sector become more competitive in the global market, he said.

Bangladesh Freight Forwarders Association (BAFFA) Vice President Kharul Alam Suzan said it usually takes at least a month or more for cargo from China to reach Chattogram via the transhipment ports of Singapore and Tanjung Pelepas, where goods often lie idle for more than a week due to congestion.

He, however, said since exports from Bangladesh to China were very low, the shipping services mostly rely on one-way trade.​

 

[Saif]

Chinese envoy holds meeting with BNP, Jamaat leaders in Ctg

Chinese Ambassador Yao Wen today held separate meetings with regional leaders of BNP and Jamaat-e-Islami in Chattogram

www.thedailystar.net

Chinese envoy holds meeting with BNP, Jamaat leaders in Ctg

Chinese Ambassador Yao Wen today held separate meetings with regional leaders of BNP and Jamaat-e-Islami in Chattogram.

Adviser to BNP Chairperson Golam Akbar Khandkar along with BNP's regional leaders met the Chinese ambassador while in another meeting Assistant Secretary General of Bangladesh Jamaat-e-Islami Muhammad Shahjahan along with his party's leaders met the envoy, a Chinese Embassy's press release said.

During the discussion, Ambassador Yao emphasised that the Communist Party of China (CPC) has long maintained friendly relations with all major political parties in Bangladesh.

He expressed China's willingness to further strengthen exchanges on governance under the new circumstances, enhance personnel training, and promote cooperation across various fields, advancing the Comprehensive Strategic Cooperative Partnership for the benefit of both the people.

The regional leaders of the two parties expressed their gratitude for the long-standing support provided by the CPC, the Chinese government and the Chinese people towards Bangladesh's national development, economic and social progress, and the well-being of its people.

They noted that Bangladesh is at a critical juncture of national reconstruction and requested continued Chinese support for Bangladesh's development.

They also expressed their desire to further strengthen party-to-party exchanges and friendly cooperation with the CPC.

Both sides exchanged views on the current situation in celebrating the 50th anniversary of the establishment of China-Bangladesh diplomatic relations in 2025, as well as the "Year of People-to-People Exchanges".​

 

[Saif]

Since the video also talks about China's relation with Bangladesh I am posting the link here.

[🇧🇩] Post in thread 'Indo-Bangla Relation: India's Regional Ambition, Geopolitical Reality, and Strategic Options For Bangladesh'

Oct 12, 2024

I found the video interesting so posting it here. Enjoy!!!

Trump is set to reignite India's powerful presence in Bangladesh, say Indian experts!

• Saif

• 

 

[Saif]

China deflation can help BD economic reflation with cheap imports

Deep deflation in China offers Bangladesh prospect of economic reflation with cheaper imports, particularly of capital goods. Bangladesh being heavily dependent on imports from the world's second-largest economy, lower import costs are believed to provide it some relief on the overall econom

thefinancialexpress.com.bd

China deflation can help BD economic reflation with cheap imports
Country's 28pc imports sourced from China
Jasim Uddin Haroon
Published :
Oct 14, 2024 00:18
Updated :
Oct 14, 2024 00:18

Deep deflation in China offers Bangladesh prospect of economic reflation with cheaper imports, particularly of capital goods.

Bangladesh being heavily dependent on imports from the world's second-largest economy, lower import costs are believed to provide it some relief on the overall economic front.

In May 2024 alone, Bangladesh sourced over 28 per cent of its imports from China, according to the Bangladesh Bureau of Statistics.

Additionally, China is Bangladesh's largest trading partner, accounting for 18.36 per cent of stake in the country's total trade in goods as of the May report.

Deflation typically occurs when supply exceeds demand-either through excess production or a drop in consumption. In China's case, industrial overcapacity and weak household demand have been identified as the primary causes of deflation.

According to the Financial Times, China's consumer price index (CPI) increased by just 0.4 per cent year on year in September, while the producer price index (PPI) fell 2.8 per cent during the same period.

Economists note that most of Bangladesh's industrial output, for both domestic and export markets, depends on imported inputs, mainly coming from China having mass production driven by technological as well as productive forces' expeditious advances.

As deflation makes raw materials and intermediate goods cheaper, local manufacturers in Bangladesh stand to benefit from it, as a blessing in disguise.

"Manufacturing enterprises will benefit from cheaper imports during this deflationary period, which may help boost production," says Dr Zahid Hussain, an independent economist currently working with Bangladesh's White Paper Preparation Committee on the economy.

"Chinese goods are currently very competitively priced. However, we should be cautious about bulk buying as prices could drop further," he adds, on a cautious note of optimism.

Deflation, however, can take time to stabilize. Japan, for example, experienced deflation starting in 1989, and it took nearly 30 years to recover. Similarly, the United States endured about eight years of economic struggle during the Great Depression in the 1930s.

In economic terms, deflation is often viewed as more harmful than inflation.

John Maynard Keynes, one of the most influential economists, famously remarked: "Inflation is unjust, and deflation is inexpedient."

Dr Hussain also believes that China's economic depression will positively impact Bangladesh's exports. "Deflation is expected to leave a significant positive impact on Bangladesh's economy, especially its exports."

Chairman of Policy Exchange of Bangladesh Dr M. Masrur Reaz told The Financial Express that the drop in prices of Chinese goods-around 18 per cent over the past three months-was good news for Bangladesh.

"This will reduce import costs for Bangladeshi entrepreneurs," he said.

Dr Masrur said while Bangladesh's currency had been depreciated in efforts to stabilize the foreign-exchange market, China's deflation could ease the pressure as Chinese-made products now become cheaper.

He suggests that local entrepreneurs should consider locking in supply contracts for the next year or two to secure lower prices for raw materials and intermediate goods. This strategy, he says, could help offset the effects of domestic inflation.

He mentions that many domestic goods in Bangladesh are produced using Chinese raw materials or intermediate goods, and this could help reduce the stubborn inflation in the future.​

 

[Saif]

BIISS seminar
Relations with China should be considered holistically
​

• Govt’s focus on defence and economic cooperation​
• Reevaluation of Chinese loan interest terms is necessary​

Foreign affairs adviser Md. Touhid Hossain addresses a seminar "Bangladesh-China Relations: A Future Outlook" jointly organised by Bangladesh Institute of International and Strategic Studies and Centre for China Studies with the help of the Chinese embassy in Dhaka on 14 October 2024 BSS

The future of relations with China should be viewed holistically, taking into account the post-revolutionary situation, in the context of the significant political change in the history of Bangladesh.

Bangladesh wants to put emphasis on defence and economic cooperation for the interests of the future of the relationship between the two countries.

Besides, it is also necessary to reevaluate the various conditions of Chinese loans taking into account the current financial crisis in the country.

Experts made such remarks in a discussion on the future of Bangladesh-China relations at a hotel in the capital on Monday.

Bangladesh Institute of International and Strategic Studies (BIISS) and Centre for China Studies (SIIS-DU) jointly organised the discussion with the help of the Chinese embassy in Dhaka.

Addressing the opening session of the seminar as the chief guest, foreign affairs adviser Md Touhid Hossain said that Bangladesh has witnessed the most significant political change in its history. As a result, the future of Bangladesh-China relations in the post-revolutionary context must be taken into consideration from a wider perspective.

Hinting that the interim government wants to continue defence cooperation between Bangladesh and China, Touhid Hossain said, defence is an important element of the relationship between the two countries.

He further said the course of Bangladesh and various other factors, especially in the post-revolution situation, may impact the relationship with China.

Political stability in Bangladesh and the changing context of regional and global politics are included among those factors.

Hinting that the interim government wants to continue defence cooperation between Bangladesh and China, Touhid Hossain said, defence is an important element of the relationship between the two countries.

He mentioned that China is an important supplier of arms to Bangladesh. China also trains members of the armed forces of Bangladesh. Bangladesh wants more defence cooperation from China to modernise the army in the future.

In his speech, the foreign adviser put emphasis on the removal of non-tariff barriers for Bangladeshi products in the Chinese market in order to eliminate the trade imbalance between the two countries.

It is important to reevaluate the Chinese loan conditions in the context of the current economic pressure in Bangladesh, he pointed out.

Speaking about the trade deficit between the two countries, Touhid said, “It would be better for us if it is possible to increase exports to China through Chinese investment in Bangladesh. Some projects are going on with the help of China and we hope to have an impact on the country’s economy.”

It would be better for us if it is possible to increase exports to China through Chinese investment in Bangladesh, Foreign affairs adviser Md Touhid Hossain.

Stating that China and others are helping on the Rohingya issue, the foreign adviser said, “Unfortunately, such initiatives have not yet brought any results. I think China has an influence over Myanmar and that is a reality. China should play a greater role in this matter so that the Rohingyas can return to their country with their rights and safety.”

Head of the National White Paper Drafting Committee and honorary fellow at Centre for Policy Dialogue (CPD), Debapriya Bhattacharya, also spoke at the event.

He said trade does not depend only on market facilities. Its expansion also depends on the process.

"That is why, we have to take into consideration the issue of non-tariff barriers for the sake of the future of relations in getting 100 per cent benefits for the Bangladeshi products in the Chinese market," Debapriya Bhattacharya.

Putting emphasis on bringing changes in the process of Chinese loans to Bangladesh, he said that if you look at Bangladesh’s foreign loans, you will see that about US $5.6 billion will go to China. It is about 10 per cent of Bangladesh’s total foreign debt. As a result, debt repayment has become a growing challenge for Bangladesh.

Debapriya further said Chinese debt includes supply debt, which has a shorter repayment period. The grace period is also less. Besides, the terms are stricter and commitment charges are higher. It should be considered if there are opportunities to bring changes in those in the future.

He pointed out that the Karnaphuli tunnel will not be financially sustainable unless there is proper Chinese investment in the designated specialised industrial zone for China in Anwara of Chattogram.

More transparency should be brought for the sake of future relations between the two countries, he argued.

Addressing the discussion, Chinese ambassador Yao Wen said Bangladesh has recently experienced a significant political change and is now at an important historical juncture. China, as an integrated strategic cooperative partner of Bangladesh, firmly supports the interim government in its efforts to reform the state, maintain law and order, promote economic development and improve people’s lives.

Chairman of the Bangladesh Institute of Strategic and International Studies' board of governors FM Gousal Azam Sarker presided over the event. Professor Yang Jiemian of Shanghai Institute for International Studies and BIISS director general Major General Iftekhar Anis also spoke.​

 

[Bilal9]

Since the video also talks about China's relation with Bangladesh I am posting the link here.

[🇧🇩] Post in thread 'Indo-Bangla Relation: India's Regional Ambition, Geopolitical Reality, and Strategic Options For Bangladesh'

Oct 12, 2024

I found the video interesting so posting it here. Enjoy!!!

Trump is set to reignite India's powerful presence in Bangladesh, say Indian experts!

• Saif

• 

I guess Indians looking to Sahib again, for him to come back and fix the Soda vending machine.

 

[Saif]

Govt takes first step to join China-led trade bloc

The commerce ministry on Monday sent a letter of consent to the foreign ministry, requesting Bangladesh’s entry into the China-led Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade pact.

www.thedailystar.net

Govt takes first step to join China-led trade bloc

The commerce ministry on Monday sent a letter of consent to the foreign ministry, requesting Bangladesh's entry into the China-led Regional Comprehensive Economic Partnership (RCEP), the world's largest trade pact.

It is the first formal step taken by Bangladesh to join the RCEP, which is a major trade agreement that includes trade in services, investment, economic and technical cooperation, and dispute settlement.

Bangladesh has taken the initiative to join the RCEP mainly because it will lose preferential trade benefits to markets that make up the Association of Southeast Asian Nations (Asean) group once it graduates from the list of least developed countries (LDCs) in 2026.

The 10 Asean nations -- namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam -- are potential markets for Bangladesh.

Moreover, the RCEP also includes five other countries that have signed the Asean Free Trade Agreement (FTA): China, Japan, South Korea, Australia and New Zealand.

These 15 countries within the RCEP account for 30 percent of global GDP, 31 percent of global foreign direct investment (FDI) and one-fourth of global trade.

"We have sent a letter citing our consent to join the RCEP," a senior officer of the commerce ministry said on condition of anonymity.

Earlier, the office of the chief adviser approved Bangladesh's participation in the RCEP.

The RCEP was formally launched in November 2020 and came into effect in January 2022 before opening up its platform in July of 2023 and allowing other countries to join.

Any developed or developing country as well as LDCs can join as members.

The commerce ministry has already completed the required assessment for joining the RCEP, according to a document from the commerce ministry.

Primarily, it is assessed that Bangladesh's export would increase by $3.26 billion and FDI by 3.36 percent.

The apparel industry will account for a significant portion of the exports while the demand for skilled and unskilled workers in the garment sector will rise by 18 percent, according to the commerce ministry document.

Overall, the country's GDP will increase by 0.26 percent if it joins the RCEP, the document said.

However, if competitiveness is not increased, the services, investment and e-commerce sectors will face numerous challenges.

Since Bangladesh is located in South Asia and is also a member of the Asean Regional Forum, the country will need to negotiate separately with member countries. However, it will also enjoy the benefit of geographical proximity.

As a result, Bangladesh will benefit from the global value chain, the document said.

Another commerce ministry official mentioned that a meeting would be held with Japan in Dhaka next month to initiate formal negotiations to sign an economic partnership agreement (EPA).

Bangladesh and Japan have already completed a joint feasibility study on the EPA.

However, formal negotiations were delayed due to the political transition in Bangladesh in August.

However, the commerce ministry official did not specifically say when the meeting with Japan would take place.

The official also said the commerce ministry has not taken any steps to start formal negotiations on a Comprehensive Economic Partnership Agreement (CEPA) with India.

Bangladesh and India completed a joint study on the CEPA more than two years ago. Both parties are now awaiting the formal launch of negotiations.

He also said that negotiations on a proposed FTA with China are expected to start in the near future.​