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

[Saif]

China keen to take Chief Adviser to Beijing in March

China has already invited Dr Muhammad Yunus to attend the Boao Forum For Asia (BFA), scheduled to be held in Beijing on 27-28 March, diplomatic sources said

en.prothomalo.com

China keen to take Chief Adviser to Beijing in March
Raheed Ejaz
Dhaka
Published: 20 Jan 2025, 23: 14

Following the 5 August 2024 changeover due to the student-people uprising, China is keen to deepen the relations with Bangladesh. Beijing is interested in a summit meeting in continuation of bilateral meetings with the interim government. That is why China wants to take Chief Adviser Dr Muhammad Yunus to China in March this year, marking five decades of diplomatic relations between the two countries.

China has already invited Dr Muhammad Yunus to attend the Boao Forum For Asia (BFA), scheduled to be held in Beijing on 27-28 March, diplomatic sources said.

The Boao Forum for Asia is a nonprofit platform that hosts high-level forums for leaders from government, business and academia in Asia and other continents to share their vision on the most pressing issues in this region and the world at large.

Wishing not to be named, a high level source in the government Sunday evening told this correspondent that China has shown interest for a bilateral summit meeting with the Chief Adviser alongside attending the BFA conference during the visit to Beijing

Foreign ministry officials said foreign adviser Md Touhid Hossain would leave for China in a bilateral meeting on Monday afternoon. He will hold a bilateral meeting with China Foreign Minister Wang Yi in Beijing on Tuesday.

The two will discuss how the relations would move forward. The health sector could get importance in cooperation between the two countries in the coming days. Discussions may be held on setting up a friendship hospital in Bangladesh with the help of China for the first time, ensuring low-cost medical services for Bangladeshi patients in several provinces, including Kunming, as well as on signing several memorandums of understanding (MoUs) on special projects for the care and rehabilitation of injured people in Dhaka.

China wants to send chartered aircraft

The chief adviser has recently been invited to attend the 25-nation BFA summit in Beijing from 25-28 March. China is interested in organising a discussion between the country’s top leaders, including President Xi Jinping, and Bangladesh’s top leader on the sidelines of the forum meeting.

However, wishing not to be named, several foreign ministry officials think that there is uncertainty about the visit in March. State events are organised on 26 March due to Bangladesh’s Independence and National Day. Apart from this, it is also a matter of consideration, whether it is enough to organise a summit meeting just two months after the foreign adviser’s meeting.

At the same time, diplomats believe that it is imperative to move cautiously instead of getting close to any country hurriedly due to the tilted policies of the previous government.

A diplomatic source told this correspondent that the matter of sending a chartered plane from China to take Chief Adviser Muhammad Yunus to Beijing was also mentioned.

The source said the issue of the Chief Adviser’s visit to China may come up for discussion during the foreign affairs adviser’s visit to Beijing.

Bangladesh-China friendship hospital in discussion

Sources said that the issue of giving importance to the health sector in cooperation is expected to be discussed at the foreign minister-level meeting in Beijing Tuesday. Dhaka has proposed to Beijing to sign an MoU to set up a specialised medical and rehabilitation centre with financial and technical assistance from China, especially for the treatment and rehabilitation of those injured in the student uprising.

Sources further said that Bangladesh is interested in signing an MoU quickly to construct the first friendship hospital, funded by China, in Purbachal. Bangladesh wants the hospital to be run by skilled physicians and professionals from China.

Apart from this, Bangladesh wants China’s cooperation in identifying high-quality hospitals in Kunming and adjacent areas to ensure medical services for Bangladeshi patients.

China’s Ambassador to Bangladesh Yao Wen told Prothom Alo Sunday morning, “We agree in principle to establish a hospital in Bangladesh. We are now waiting for a detailed proposal from Bangladesh. We want to know what kind of hospital Bangladesh wants and where this hospital will be constructed.”

“We will move forward following a process after receiving a proposal from Bangladesh. We are interested in modernising Bangladesh’s health sector,” he added.

China still interested in Teesta project

The MoU on sustainable management of river water, signed between the two countries in 2016, is scheduled to be renewed during the foreign adviser’s visit. The agreement signed between the Bangladesh Water Development Board (BPDB) and Power China is considered an outline MoU. Discussions are underway between the two countries on the Teesta project in continuation of this MoU.

Speaking about the Teesta project, Yao Wen said, “We are interested in assisting Bangladesh in this project. Now it is Bangladesh that will have to decide how to implement it.”

Diplomatic sources said the Bangladesh side at the meeting in Beijing will raise the construction of China’s mega dam in upstream of the Brahmaputra River. The country has taken the initiative to construct a dam worth about USD 100 billion in Tibet to generate about 60,000 MW electricity. This has created doubts about the availability of water for downstream countries. India has already expressed concerns over the construction of the dam.

The Chinese ambassador met with adviser Touhid Hossain on Sunday morning. Later, speaking about the construction of the dam in Tibet, the ambassador said that the construction will not have any negative impact on the downstream countries.

Bangladesh focuses on reducing interest rates

In the foreign minister level bilateral meeting, Bangladesh will put stress on investment, trade and project financing. In addition to reducing the interest rate from 2 per cent to a reasonable level, Dhaka will seek the cancellation of the 0.5 per cent loan commitment fee.

The meeting will also discuss important projects, including the procurement of four ships as per the previous agreement, especially the projects for which financing is currently stalled. Dhaka will also seek China’s cooperation on the Rohingya issue.

Bangladesh will also urge China to stand by the Rohingyas in the UN Security Council. At the same time, Bangladesh expects more investment from China.

After 5 August, China has come forward with an investment of over USD 200 million. The country is also one of the major trading partners of Bangladesh. Dhaka will seek cooperation in free trade of goods and raw materials, including delayed payment.

Bangladesh will also seek duty-free and quota-free facilities for Bangladeshi products in the Chinese market for an additional three years after graduating from a low-income country.

Asked about the China visit, foreign adviser Md. Touhid Hossain told Prothom Alo, “There will be discussions on advancing cooperation between the two countries, keeping in mind the five-decade anniversary of the relations. Our priority will be economic and development cooperation.”

* The report, originally published in the print and online editions of Prothom Alo, has been rewritten in English by Shameem Reza​

 

[Bilal9]

Foreign Advisor flying to China ahead of State Visit by Yunus to meet at bilateral meet

 

[Saif]

Foreign adviser’s china tour: 10 extra years for repaying Chinese loans

Beijing has agreed in principle to extend the repayment period for Chinese loans and assured Dhaka it will look into the request to lower the interest rate to ease Bangladesh’s foreign debt repayment pressure.

www.thedailystar.net

Foreign adviser’s china tour: 10 extra years for repaying Chinese loans
Interest rates might be lowered

Photo: PID

Beijing has agreed in principle to extend the repayment period for Chinese loans and assured Dhaka it will look into the request to lower the interest rate to ease Bangladesh's foreign debt repayment pressure.

China is Bangladesh's fourth-largest lender after Japan, the World Bank and the Asian Development Bank, with total loans disbursed since 1975 coming to $7.5 billion.

The development came yesterday during Foreign Adviser Touhid Hossain's bilateral meeting with Chinese Foreign Minister Wang Yi on his four-day tour of China at the Diaoyuitai State Guest House in Beijing.

At the meeting, Hossain requested lowering the interest rate on Chinese loans from 2-3 percent to 1 percent, waiving the commitment and management fees and extending the loan repayment period from 20 years to 30 years for both the preferential buyer's credit and government concessional loans.

Praising Bangladesh's good track record in repayment, Wang agreed to extend the maturity period for loans provided to the country and also assured of looking into the request of lowering the interest rate on the loans, according to a statement from the Bangladesh foreign ministry.

China places Bangladesh at a very important position in her neighbourhood diplomacy, the statement said quoting Wang as saying.

Also yesterday, Hossain held a meeting with Luo Zhaohui, the chairman of the China International Development Cooperation Agency, about Chinese loans.

Hossain requested Luo to ramp up concessional loans and grants and the number of projects China funds in Bangladesh. Luo responded positively and sought a list of priority projects from Bangladesh.

Luo said China may consider larger projects in Bangladesh, with some project funds extended as grants. As a result, the average interest rate of Chinese loans will go down, he said.

Both sides also discussed the financing of projects in metro rail and the Southern Infrastructure Development Initiative (SIDI) in Bangladesh.

Over at Hossain's bilateral meeting with the Chinese foreign minister, Beijing assured of continued duty-free and quota-free access to Bangladeshi products for three years after graduation from the least-developed country bracket in 2026.

Wang also conveyed China's decision to designate three to four recognised hospitals in Kunming for treatment of Bangladeshi patients.

He also welcomed Bangladesh's proposal of setting up a specialised tertiary-level Chinese hospital in Dhaka as a gesture of goodwill on the occasion of the 50th anniversary of Bangladesh-China diplomatic relations.

Both sides conveyed their readiness to organise a host of activities to mark the occasion.

Wang requested Bangladesh to consider joining Chinese President Xi Jinping's three global initiatives: the Global Development Initiative, the Global Security Initiative and the Global Civilisation Initiative.

In response, Bangladesh conveyed their intention to examine the proposals and to remain engaged with China in deliberations on the issues.

Wang reaffirmed that China respects the sovereignty and territorial integrity of Bangladesh and reiterated continued Chinese support for the stability, reforms, democratic transition and development initiatives of Bangladesh.

Recognising Bangladesh's strategic position, the two sides emphasised continued cooperation under the Belt and Road Initiative.

China wants to see Bangladesh's economic development in pace with their own development and assured China's continued support for the projects conducive to the livelihood of the people of Bangladesh, Wang said.

The two sides expressed their willingness to work closely on proposed Chinese-funded projects: the Dasherkandi sewage treatment plant, the upgradation and modernisation of Mongla Port and the establishment of digital connectivity and 4G expansion.

The Chinese side was very positive about the request for lowering the interest rate and financial support, an official of the foreign adviser's delegation told the correspondent from Beijing.

"They have not insisted on their issues of GDI and GSI, but said they want us to be with them for inclusive development," he said.

Bangladesh sought detailed information on China's plan to build a mega-hydropower dam across the Yarlung Tsangpo River in Tibet.

The Chinese side said they would not consume or withdraw any water and thus the lower riparian countries will not be affected, the official said, adding that there was no discussion on the Teesta river management project.

Both leaders discussed the Rohingya crisis and reaffirmed their shared commitment to work on a roadmap to finding a durable solution to the issue, according to the foreign ministry statement. Wang reassured China's continued engagement with Myanmar to address the situation and promote regional stability.

Hossain reiterated Bangladesh's firm commitment to the 'One China Principle' and unwavering support for UNGA Resolution 2758.

The two countries signed the implementation plan for the memorandum of understanding on the exchange of hydrological information on the Yaluzangbu-Jamuna rivers.

Hossain also met with Liu Jianchao, the minister of the international department of the Chinese Communist Party, yesterday to discuss Chinese-funded development projects in Bangladesh.

Liu reaffirmed China's continued support for the interim government and peaceful transition to democracy through a free, fair and participatory election.​

 

[Saif]

প্রতিবেশী কূটনীতিতে আমরা সবসময় বাংলাদেশকে অগ্রাধিকার দেই: চীনা পররাষ্ট্রমন্ত্রী

চার দিনের সফরে গতকাল সোমবার রাতে বেইজিংয়ে পৌঁছান উপদেষ্টা তৌহিদ হোসেন।

bangla.thedailystar.net

প্রতিবেশী কূটনীতিতে আমরা সবসময় বাংলাদেশকে অগ্রাধিকার দেই: চীনা পররাষ্ট্রমন্ত্রী

পররাষ্ট্র উপদেষ্টা তৌহিদ হোসেন আজ বেইজিংয়ে চীনের পররাষ্ট্রমন্ত্রী ওয়াং ইর সঙ্গে বৈঠক করেন। ছবি: সংগৃহীত

চীন তার প্রতিবেশী কূটনীতিতে সর্বদা বাংলাদেশকে অগ্রাধিকার দেয় এবং বাংলাদেশি জনগণের বিষয়ে সুপ্রতিবেশী নীতি মেনে চলে বলে মন্তব্য করেছেন দেশটির পররাষ্ট্রমন্ত্রী ওয়াং ই।

আজ মঙ্গলবার বেইজিংয়ে বাংলাদেশের পররাষ্ট্র উপদেষ্টা তৌহিদ হোসেনের সঙ্গে এক বৈঠকে ওয়াং ই এমন মন্তব্য করেছেন বলে চায়না ডেইলি জানিয়েছে।

বৈঠকে চীনা পররাষ্ট্রমন্ত্রী ওয়াং ই বলেন, 'বাংলাদেশের সঙ্গে দ্বিপাক্ষিক সম্পর্ক আরও এগিয়ে নিতে চীন বাস্তবসম্মত সহযোগিতা গভীর করতে এবং বেল্ট অ্যান্ড রোড সহযোগিতা এগিয়ে নিতে আগ্রহী।'

চার দিনের সফরে গতকাল সোমবার রাতে বেইজিংয়ে পৌঁছান উপদেষ্টা তৌহিদ হোসেন। চীনের পররাষ্ট্রমন্ত্রীর আমন্ত্রণে তিনি দায়িত্ব গ্রহণের পর এই প্রথম বিদেশ সফর করছেন।

ওয়াং ই বলেন, 'দায়িত্ব গ্রহণের পর তৌহিদ হোসেন তার প্রথম বিদেশ সফরের জন্য চীনকে বেছে নেওয়ার বিষয়টি চীন-বাংলাদেশ সম্পর্ককে বাংলাদেশের অন্তর্বর্তী সরকার কতটা গুরুত্ব দেয় তা প্রতিফলিত করে।'

'চীন ব্যাপক সংস্কার করছে এবং চীনের আধুনিকীকরণকে এগিয়ে নিচ্ছে, যা বিশ্বের বিভিন্ন দেশের জন্য, বিশেষ করে প্রতিবেশী দেশগুলোর জন্য নতুন সুযোগ তৈরি করবে,' বলেন তিনি।

বাংলাদেশ দক্ষিণ এশিয়ার প্রথম দেশ হিসেবে চীনের সঙ্গে বেল্ট অ্যান্ড রোড সহযোগিতার বিষয়ে সমঝোতা স্মারক সই করেছিল।

বড় বড় এবং 'ছোট কিন্তু সুন্দর' প্রকল্প বাস্তবায়নের মাধ্যমে মানুষের আয় বাড়ানোর প্রচেষ্টা সমন্বয় করার আহ্বান জানান চীনা পররাষ্ট্রমন্ত্রী। তৌহিদ হোসেনকে তিনি বলেন, 'নতুন নতুন উদীয়মান ক্ষেত্রগুলো খুঁজে বের করুন এবং দুই দেশের ঐতিহাসিক সহযোগিতা একীভূত করুন।'

এ বছর চীন-বাংলাদেশের কূটনৈতিক সম্পর্ক প্রতিষ্ঠার ৫০তম বার্ষিকী পালিত হচ্ছে। একইসঙ্গে চীন-বাংলাদেশ সাংস্কৃতিক বিনিময়ের বছর।

ওয়াং ই এই ঐতিহাসিক বন্ধুত্বকে এগিয়ে নিতে কৌশলগত যোগাযোগ জোরদার এবং কৌশলগত সহযোগিতামূলক অংশীদারত্ব এগিয়ে নিতে চীনের প্রস্তুতি ব্যক্ত করেছেন।

জবাবে উপদেষ্টা তৌহিদ হোসেন বলেন, 'চীনের সঙ্গে বন্ধুত্ব বাংলাদেশের সব দল চায়, যা সরকার ও পুরো জাতি সমর্থন করে।'

তিনি বাংলাদেশের স্বাধীনতা, সার্বভৌমত্ব এবং আঞ্চলিক অখণ্ডতা রক্ষায় চীনের সমর্থনের জন্য ধন্যবাদ জানান এবং এক-চীন নীতির প্রতি বাংলাদেশের দৃঢ় সমর্থনের প্রতিশ্রুতি দেন।

তিনি বলেন, 'বাংলাদেশ চীনের সঙ্গে বিভিন্ন আন্তর্জাতিক ফোরামে জড়িত হতে আগ্রহী। পাশাপাশি আঞ্চলিক বিষয়ে সমন্বয় জোরদার করতে, সংযোগ ও আঞ্চলিক অর্থনৈতিক একীভূতকরণের অংশীদার হিসেবে কাজ করতে এবং যৌথভাবে আন্তর্জাতিক ন্যায্যতা ও ন্যায়বিচার রক্ষা করতে আগ্রহী।'​

 

[Saif]

ড. ইউনূসকে নিতে বিশেষ বিমান পাঠাবে চীন, তীক্ষ্ণ দৃষ্টি মোদীর! (China intends to send a special plane to take Dr. Yunus to China)​

 

[Saif]

China keen to take Chief Adviser to Beijing in March

China has already invited Dr Muhammad Yunus to attend the Boao Forum For Asia (BFA), scheduled to be held in Beijing on 27-28 March, diplomatic sources said

en.prothomalo.com

China keen to take Chief Adviser to Beijing in March
Raheed Ejaz
Dhaka
Published: 20 Jan 2025, 23: 14

Muhammad Yunus File photo

Following the 5 August 2024 changeover due to the student-people uprising, China is keen to deepen the relations with Bangladesh. Beijing is interested in a summit meeting in continuation of bilateral meetings with the interim government. That is why China wants to take Chief Adviser Dr Muhammad Yunus to China in March this year, marking five decades of diplomatic relations between the two countries.

China has already invited Dr Muhammad Yunus to attend the Boao Forum For Asia (BFA), scheduled to be held in Beijing on 27-28 March, diplomatic sources said.

The Boao Forum for Asia is a nonprofit platform that hosts high-level forums for leaders from government, business and academia in Asia and other continents to share their vision on the most pressing issues in this region and the world at large.

Wishing not to be named, a high level source in the government Sunday evening told this correspondent that China has shown interest for a bilateral summit meeting with the Chief Adviser alongside attending the BFA conference during the visit to Beijing

Foreign ministry officials said foreign adviser Md Touhid Hossain would leave for China in a bilateral meeting on Monday afternoon. He will hold a bilateral meeting with China Foreign Minister Wang Yi in Beijing on Tuesday.

The two will discuss how the relations would move forward. The health sector could get importance in cooperation between the two countries in the coming days. Discussions may be held on setting up a friendship hospital in Bangladesh with the help of China for the first time, ensuring low-cost medical services for Bangladeshi patients in several provinces, including Kunming, as well as on signing several memorandums of understanding (MoUs) on special projects for the care and rehabilitation of injured people in Dhaka.

China wants to send chartered aircraft

The chief adviser has recently been invited to attend the 25-nation BFA summit in Beijing from 25-28 March. China is interested in organising a discussion between the country’s top leaders, including President Xi Jinping, and Bangladesh’s top leader on the sidelines of the forum meeting.

However, wishing not to be named, several foreign ministry officials think that there is uncertainty about the visit in March. State events are organised on 26 March due to Bangladesh’s Independence and National Day. Apart from this, it is also a matter of consideration, whether it is enough to organise a summit meeting just two months after the foreign adviser’s meeting.

At the same time, diplomats believe that it is imperative to move cautiously instead of getting close to any country hurriedly due to the tilted policies of the previous government.

A diplomatic source told this correspondent that the matter of sending a chartered plane from China to take Chief Adviser Muhammad Yunus to Beijing was also mentioned.

The source said the issue of the Chief Adviser’s visit to China may come up for discussion during the foreign affairs adviser’s visit to Beijing.

Bangladesh-China friendship hospital in discussion

Sources said that the issue of giving importance to the health sector in cooperation is expected to be discussed at the foreign minister-level meeting in Beijing Tuesday. Dhaka has proposed to Beijing to sign an MoU to set up a specialised medical and rehabilitation centre with financial and technical assistance from China, especially for the treatment and rehabilitation of those injured in the student uprising.

Sources further said that Bangladesh is interested in signing an MoU quickly to construct the first friendship hospital, funded by China, in Purbachal. Bangladesh wants the hospital to be run by skilled physicians and professionals from China.

Apart from this, Bangladesh wants China’s cooperation in identifying high-quality hospitals in Kunming and adjacent areas to ensure medical services for Bangladeshi patients.

China’s Ambassador to Bangladesh Yao Wen told Prothom Alo Sunday morning, “We agree in principle to establish a hospital in Bangladesh. We are now waiting for a detailed proposal from Bangladesh. We want to know what kind of hospital Bangladesh wants and where this hospital will be constructed.”

“We will move forward following a process after receiving a proposal from Bangladesh. We are interested in modernising Bangladesh’s health sector,” he added.

China still interested in Teesta project

The MoU on sustainable management of river water, signed between the two countries in 2016, is scheduled to be renewed during the foreign adviser’s visit. The agreement signed between the Bangladesh Water Development Board (BPDB) and Power China is considered an outline MoU. Discussions are underway between the two countries on the Teesta project in continuation of this MoU.

Speaking about the Teesta project, Yao Wen said, “We are interested in assisting Bangladesh in this project. Now it is Bangladesh that will have to decide how to implement it.”

Diplomatic sources said the Bangladesh side at the meeting in Beijing will raise the construction of China’s mega dam in upstream of the Brahmaputra River. The country has taken the initiative to construct a dam worth about USD 100 billion in Tibet to generate about 60,000 MW electricity. This has created doubts about the availability of water for downstream countries. India has already expressed concerns over the construction of the dam.

The Chinese ambassador met with adviser Touhid Hossain on Sunday morning. Later, speaking about the construction of the dam in Tibet, the ambassador said that the construction will not have any negative impact on the downstream countries.

Bangladesh focuses on reducing interest rates

In the foreign minister level bilateral meeting, Bangladesh will put stress on investment, trade and project financing. In addition to reducing the interest rate from 2 per cent to a reasonable level, Dhaka will seek the cancellation of the 0.5 per cent loan commitment fee.

The meeting will also discuss important projects, including the procurement of four ships as per the previous agreement, especially the projects for which financing is currently stalled. Dhaka will also seek China’s cooperation on the Rohingya issue.

Bangladesh will also urge China to stand by the Rohingyas in the UN Security Council. At the same time, Bangladesh expects more investment from China.

After 5 August, China has come forward with an investment of over USD 200 million. The country is also one of the major trading partners of Bangladesh. Dhaka will seek cooperation in free trade of goods and raw materials, including delayed payment.

Bangladesh will also seek duty-free and quota-free facilities for Bangladeshi products in the Chinese market for an additional three years after graduating from a low-income country.

Asked about the China visit, foreign adviser Md. Touhid Hossain told Prothom Alo, “There will be discussions on advancing cooperation between the two countries, keeping in mind the five-decade anniversary of the relations. Our priority will be economic and development cooperation.”

* The report, originally published in the print and online editions of Prothom Alo, has been rewritten in English by Shameem Reza​

 

[Saif]

Bangladesh's trade deficit with China rises by over 1.0pc

Bangladesh's trade deficit with China increased marginally by over 1.0 per cent to US$16.45 billion in the last fiscal year ending on June 30, compared to the same period a year earlier, according to the recently-released data from Bangladesh Bank. During this period, Bangladesh imported goods wor

thefinancialexpress.com.bd

Bangladesh's trade deficit with China rises by over 1.0pc
Jasim Uddin Haroon
Published :
Jan 26, 2025 00:10
Updated :
Jan 26, 2025 00:10

Bangladesh's trade deficit with China increased marginally by over 1.0 per cent to US$16.45 billion in the last fiscal year ending on June 30, compared to the same period a year earlier, according to the recently-released data from Bangladesh Bank.

During this period, Bangladesh imported goods worth $17.80 billion while exporting only $1.35 billion, resulting in a significant trade imbalance. Excluding services, the trade deficit stood at $16.28 billion in 2022-23 fiscal year.

China remains Bangladesh's largest trade partner, primarily supplying raw materials and semi-finished goods that are vital for Bangladesh's manufacturing industries. Among these goods ready-made garment (RMG) sector is key, which depends heavily on these imports to produce goods for both domestic consumption and export.

Economists argue that the trade deficit with China is not a cause for concern. They highlight that imports from China significantly contribute to Bangladesh's export-oriented industries, enhancing the country's export capabilities.

Dr. M. Masrur Reaz, chairman of Policy Exchange Bangladesh, a privately-owned think tank, noted that the trade deficit is a byproduct of China's cost-competitive goods dominating the Bangladeshi market. These include machinery essential for the RMG sector. "If imports from China grow, they positively impact Bangladesh's exports," Dr. Masrur said.

The rapid growth of Bangladesh's garment industry-employing around 5.0 million workers most of whom are women-has deepened trade relations with China.

As the world's second-largest apparel exporter after China, Bangladesh relies heavily on Chinese machinery and raw materials. Since 2018, China has been Bangladesh's largest trading partner, overtaking neighbouring India, now ranked second.

Chinese President Xi Jinping's Belt and Road Initiative (BRI) introduced in 2013 brought Bangladesh into the fold in 2016. During a state visit that year, President Xi pledged $40 billion for infrastructure projects under the BRI framework, cementing economic ties.

Dr. Zahid Hussain, another leading economist, emphasised the critical role of Chinese imports in supporting Bangladesh's growth, particularly in machinery and raw materials essential for export-driven and domestic industries.

"Most of our machinery and raw materials come from China," Dr. Hussain noted, adding that Chinese funding for BRI projects is more accessible than financing from multilateral organisations.

Industry insiders confirm the indispensability of Chinese raw materials for Bangladesh's competitive edge in international markets.

Syed Nazrul Islam, managing director of Well Dress, a subsidiary of Well Food Group, highlighted this dependency, saying "We can't afford not to buy from China; our entire supply chain would collapse."

He noted that that Chinese-made automatic sewing machines, widely used in factories, exemplify how imported technology drives Bangladesh's economic resilience.

President of Bangladesh Chamber of Industries (BCI) Anwar Ul Alam Chowdhury underscored the significance of Chinese imports in reducing production costs in the RMG sector. "We have no alternative to China," Mr. Chowdhury said, adding that Bangladesh also imports pharmaceuticals, cement, and chemicals from China at competitive prices.

Despite its trade imbalance with China, Bangladesh maintains trade surpluses with key Western markets, including the United Kingdom, the United States of America, and the European Union.

In fiscal year 2023-24, Bangladesh recorded a $3.76 billion trade surplus with the United Kingdom, $4.57 billion with the United States, and $18.57 billion with the EU's 27-member bloc.

Bangladesh's trade strategy effectively leverages Chinese raw materials to produce goods for export to these markets, contributing to its economic resilience and growth.​

 

[Saif]

Dhaka airs concern, Beijing says lower riparians won't be affected

Bangladesh expressed concern over the construction of a mega-dam by China on the Brahmaputra during bilateral talks in Beijing on January 21 and got assurances that lower riparians won't be affected. Foreign Affairs Adviser Touhid Hossain, who led the Bangladesh team, disclosed Sunday this a

thefinancialexpress.com.bd

Dam on Brahmaputra
Dhaka airs concern, Beijing says lower riparians won't be affected
FE REPORT
Published :
Jan 27, 2025 01:14
Updated :
Jan 27, 2025 01:14

Bangladesh expressed concern over the construction of a mega-dam by China on the Brahmaputra during bilateral talks in Beijing on January 21 and got assurances that lower riparians won't be affected.

Foreign Affairs Adviser Touhid Hossain, who led the Bangladesh team, disclosed Sunday this and other outcomes of the meeting, adding that China has assured that the construction of the dam will not affect the lower-riparian Bangladesh.

In December last year, the Chinese government sanctioned the development of a hydropower facility on the lower section of the Yarlung Zangbo River, which is the Tibetan name for the Brahmaputra.

The $137 billion mega-infrastructure project to build the largest dam in the world has raised concerns in downstream countries, including India and Bangladesh, over potential impacts on water flow.

Responding to a question he said that a comparative analysis on the foreign loans provided to Bangladesh showed that China's lending rate is not that much higher, rather the lending rate of many other development partners are higher than China's.

"So the issue cannot be pushed strongly but when we raised it, they said they will consider it," Mr Touhid told reporters.

Replying to another question he said that there was no discussion on Dr Yunus's visit to Beijing.

The foreign adviser said China is interested to help Bangladesh in building a big and modern hospital in Bangladesh.

"And we are looking for land in Purbachal Town are for this" he said, adding that China is interested to provide support for another tertiary-level hospital on a private-public-partnership basis.

During the bilateral meeting, Chinese Foreign Minister Wang Yi also requested Bangladesh to consider joining President Xi's three global initiatives, namely GDI, GSI and GCI, and in response Bangladesh conveyed intention to examine the proposals and to remain engaged with China in deliberations on the issues, the adviser said.

Both the countries also agreed to collaborate on each other's candidature in multilateral for a, including in the United Nations.

The bilateral talks concluded with the signing of the 'Implementation Plan of the MoU on Exchange of Hydrological Information Sharing of the Yaluzangbu-Jamuna River'.

Mr Touhid said the MoU on water-management cooperation could not be renewed as both sides intended to add some new clauses to the existing memorandum.

The Foreign Adviser also had a meeting with the Minister of International Department of Chinese Communist Party. During the meeting, they discussed Chinese-funded development projects in Bangladesh.

They also talked about the reform initiatives of the interim government in Bangladesh. The Chinese Minister reaffirmed China's continued support to the interim government and peaceful transition to democracy through a free, fair and participatory election.

Mr. Hossain, during his January 21-24 China trip, also held a meeting with the Chairman of China International Development Cooperation Agency (CIDCA) discussing bilateral economic-cooperation issues.​