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

[Saif]

Bangladesh wants to sign FTA with China by 2026

Commerce ministry senior secretary Tapan Kanti Ghosh on Thursday said that the government had taken a policy decision for signing free trade agreement with China...

www.newagebd.net

Bangladesh wants to sign FTA with China by 2026
Staff Correspondent | Published: 23:41, Mar 28,2024

Commerce ministry senior secretary Tapan Kanti Ghosh and China ambassador to Bangladesh Yao Wen are present at a press conference at the commerce ministry conference room in the capital Dhaka on Thursday. — PID photo

Commerce ministry senior secretary Tapan Kanti Ghosh on Thursday said that the government had taken a policy decision for signing free trade agreement with China and the commerce ministry was working in an aim to conclude the FTA negotiation by 2026.

At a joint press conference on exchange of draft feasibility study reports on the proposed FTA between Bangladesh and China held at the commerce ministry conference room in the capital Dhaka, the commerce secretary said that after graduation of Bangladesh from a least developed country to a developing one in 2026, duty benefits for the country would shrink.

‘We want to conclude the FTA negotiation with China by 2026 to balance post-graduation challenges. If the negotiation is not completed in time, the discussions will go on and we will request China to extend duty-free market access for the interim period until the negotiation ends,’ Tapan Kanti said.

During China president Xi Jinping’s visit to Bangladesh on October 14-15, 2016, a memorandum of understanding was signed on launching the joint feasibility study of China-Bangladesh free trade agreement.

As per the MoU, joint working group was formed to conduct the feasibility study and the first meeting of the group was held on June 20-21, 2018 in Beijing.

The next meeting of the working group would be held in Dhaka soon to finalise the draft feasibility study reports, the commerce secretary said.

He said that Bangladesh’s graduation from LDC to a developing country was a significant achievement and it would create new opportunities in trade and investment but it would also create some new challenges.

China ambassador to Bangladesh Yao Wen said that after the graduation of Bangladesh from LDC in 2026, China would provide support to mitigate the post-graduation challenges.

He said that the FTA between the two countries would effectively promote Bangladesh’s exports to China.

Citing the experience of signing FTA between China and other countries, the ambassador said that China and Mauritius signed an FTA in 2019 and exports of Mauritius to China increased by 15 per cent.

In the same way, after signing an FTA in 2022, exports of Cambodia to China increased by 13 per cent in 2023, he said.

The Chinese ambassador said that the FTA would also extend investment opportunity which would then increase the exports of Bangladesh not only to China but also other markets.

Citing the trade imbalance, Wen said that although the bilateral trade between the two countries was largely in favour of China, Bangladesh imported textile and other machineries from China and produced apparel to export to the US and the EU.

The envoy said that Chinese businesses were interested in making investment in Bangladesh’s ICT, agricultural processed industry and renewable energy.

‘China is determined to support Smart Bangladesh and to enhance its competitiveness,’ the ambassador said.​

 

[Saif]

FTA with China may cost Bangladesh Tk 15,000cr a year: study

Currently, China is Bangladesh’s single largest trading partner, with the bilateral trade amounting to $24 billion.

www.thedailystar.net

FTA with China may cost Bangladesh Tk 15,000cr a year: study​

It may also boost Chinese investment, study finds

Bangladesh may lose nearly Tk 15,000 crore per year in revenues from import duties if a proposed free trade agreement (FTA) is signed with China, according to a new study.

However, at the same time, Bangladesh stands to gain billions of dollars if Chinese investors come here with investment proposals under the FTA, the study also said.

These are the preliminary findings of a joint feasibility study conducted by Bangladesh and China as they look to begin negotiations for the FTA, said a senior official of the commerce ministry, asking not to be named.

The countries signed a memorandum of understanding in October 2016 to conduct the joint feasibility study. In June 2018, the countries began conducting a preliminary study on the proposed FTA, the senior official also said.

Two different studies were conducted, he added. Bangladesh conducted a study on trade in services while China conducted a study on trade in goods.

Senior Commerce Secretary Tapan Kanti Ghosh and Chinese Ambassador to Bangladesh Yao Wen exchanged the documents of the preliminary studies at a press conference held at the commerce ministry office in Dhaka yesterday.

In the preliminary study, there is no exact figure of how much either country may benefit, added the official.

However, the Chinese government will have to facilitate local companies who want to invest in Bangladesh, the official said.

He added that it was just the beginning of negotiations and it may take a long time to complete as the commerce ministry will hold a series of meetings with government officials and private sector stakeholders for their opinions.

Currently, China is Bangladesh's single largest trading partner, with the bilateral trade amounting to $24 billion.

Bangladesh exported goods to China worth $677 million and imported goods worth $22.90 billion from China in fiscal year 2022-23, according to data from the commerce ministry.

At the press conference, Ghosh said the government has engaged major trading partners in negotiations for FTAs, economic partnership agreements, comprehensive economic partnership agreements, and preferential trade agreements.

The aim is to retain duty preferences after Bangladesh makes the United Nations country status graduation from a least developed to a developing country in November 2026.

China currently provides duty benefits for 98 percent of Bangladeshi products.

If negotiations take a long time, Bangladesh will seek the continuation of LDC benefits from China until the signing of the FTA, Ghosh said.

He added that more detailed studies need to be conducted before the FTA can be signed.

Yao Wen said China has been negotiating with Bangladesh mainly to overcome economic challenges and to increase trade between the two countries.

An FTA may address those challenges and exports from Bangladesh to China may eventually increase if facilities can be created.

Currently, China has 22 FTAs with 29 countries, including nations like Mauritius and Cambodia, he added.

Citing an example, the Chinese envoy said exports from Mauritius to China increased by 15 percent and exports from Cambodia to China rose by 30 percent after the signing of the FTAs.

This indicates mutual trade benefits after the signing of trade deals, he said, adding that Bangladesh could export more jute and jute goods, leather and leather goods, and aquatic products to China.

Among agricultural products and those of agro-processing, mangoes, jackfruits, and juice products could also be good items for export from Bangladesh to China.

On the other hand, Chinese investment could bolster the IT and agricultural sectors and can make Bangladesh a manufacturing hub in South Asia if the FTA is signed, the ambassador also said.

Currently, China is the second largest source of foreign direct investment (FDI) for Bangladesh.​

 

[Saif]

China won't interfere in Bangladesh's internal affairs: envoy

China will not interfere in the internal affairs of Bangladesh, said Chinese Ambassador to Bangladesh Yao Wen today

www.thedailystar.net

China won't interfere in Bangladesh's internal affairs: envoy

Photo: Collected

China will not interfere in the internal affairs of Bangladesh, said Chinese Ambassador to Bangladesh Yao Wen today.

When asked for comments about the next election, he said, "We want stability in Bangladesh and will continue our cooperation. But it is up to Bangladeshi people how they want to see the elections and democracy."

The ambassador said this at an event jointly organised by Diplomatic Correspondents Association Bangladesh and Chinese embassy at a city hotel today.
Wen said China certainly wants Bangladeshi people and parties to settle their differences so that there is a right environment for election.

Asked about dialogue between the political parties in Bangladesh, he said it was not for a foreign ambassador to respond to that question.​

 

[Saif]

Beijing won’t meddle in Bangladesh elections

Chinese Ambassador to Bangladesh Yao Wen has said China will not intervene in Bangladesh’s elections, saying that it is an internal issue of Bangladesh.

www.thedailystar.net

Beijing won't meddle in Bangladesh elections
Says Chinese envoy

Photo: TV grab

Chinese Ambassador to Bangladesh Yao Wen has said China will not intervene in Bangladesh's elections, saying that it is an internal issue of Bangladesh.

"Our policy always remains the same. China never intervenes in other country's internal issues. I can say the election is the internal affairs of Bangladesh. It has to be decided by Bangladesh people. So, that is our position," he said.

The Chinese envoy made the comments while talking to journalists after a meeting with Planning Minister Abdul Mannan at the Planning Commission yesterday.
"We discussed long-term cooperation. We believe our cooperation is for long time for the benefits of Bangladesh people," he said.

Mannan said China has made significant development over the years. They have implemented 28th five-year plans and Bangladesh is implementing only 8th five-year plan.
"The Chinese envoy said we both can share our experiences and planning for development," he said.

China has vast experience and expertise in infrastructure development and is also working in Bangladesh. Thus they are ready to share their experiences with Bangladesh, he said.

Mannan said he expects China to support Bangladesh in the post-LDC period after 2026 by providing duty-free facilities to Bangladeshi products.

China is also interested in investing in solar power and electric vehicles in Bangladesh, he said.

After construction of the Padma Bridge, there are more scopes for investment and development in the country's southwestern region.

"We assured the Chinese envoy that we consider China as a very important friend. We have got Chinese support in the past and are getting it now. We hope to have more support in the future too," Mannan said.​

 

[Old School]

[H1]China says will back Bangladesh against 'external interference'[/H1]

Chinese President Xi Jinping on Wednesday said Beijing would support Bangladesh in "opposing external interference" and would deepen economic cooperation including through the Belt and Road Initiative (BRI).

China's support to Bangladesh comes against the backdrop of Dhaka's recent differences with Washington, which issued a public call for "free and transparent" elections that are scheduled for later this year.
"China supports Bangladesh in safeguarding national sovereignty, independence and territorial integrity, and in opposing external interference, so that the country can maintain domestic unity and stability, and achieve development and revitalisation," he was quoted as saying by State media, adding that Beijing was "willing to continue to work with Bangladesh in firmly supporting each other in issues involving their respective core interests."
The U.S. has also sanctioned senior officials of the Rapid Action Battalion, a tool of Prime Minister Hasina's in her crackdown against terrorism. In April this year, Ms. Hasina slammed the U.S. saying that "it has the power to topple governments in any country and the Muslim countries in particular are experiencing a tough time."
China says will back Bangladesh against 'external interference' - The Hindu

 

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https://www.dhakatribune.com/bangladesh/305841/hasan-china-does-not-interfere-in-bangladesh

Hasan: China does not interfere in Bangladesh politics

China has been involved in many mega projects of Bangladesh, says Information Minister Dr Hasan Mahmud

BSS
Publish : 28 Feb 2023, 05:14 PMUpdate : 28 Feb 2023, 07:01 PM

Information and Broadcasting Minister Dr Hasan Mahmud on Tuesday said China is a development partner of Bangladesh and it wants to be a partner in future too for materializing the dream of a developed nation by 2041 under the leadership of Prime Minister Sheikh Hasina.

"China is a development partner of Bangladesh. And they want to be a development partner in future also to materialize the dream of a developed nation by 2041 under the dynamic leadership of Bangabandhu's daughter Prime Minister Sheikh Hasina. They didn't poke nose in the politics of Bangladesh and don't want to do it in future too," he said.

The minister said this to reporters after a meeting with Chinese Ambassador to Bangladesh Yao Wen at his office at the Secretariat in the capital.

Hasan said the ambassador came here for a courtesy call and discussions were held over the role of the Chinese government in 'development processes', development ideas and other issues.

"You (journalists) all know that China was involved in many of the country's mega projects like Bangabandhu Tunnel, different bridges and other projects. They are constructing a pipeline so that oil can come directly from offshore to Patenga Eastern Refinery in Chittagong. They are also working in EPZ," said Hasan, also Awami League joint general secretary.

Besides, he said, there are 'Six TV' projects for setting up television centers in divisional cities. "It is supposed to be financed by the Chinese government in 'concessional loan'. We are moving ahead slowly in this regard as the world is going through an economic recession. Discussions were held on this issue too," he added.

Yao Wen said a lively discussion was held with the information minister. China has been supporting the country's (Bangladesh) economic, infrastructural and social development as a partner, he added.

"We are happy to play a pivotal role in these areas. We never poke nose in the politics of the country and also don't want to do it in future," Wen added.​

 

[Old School]

[H1]Bangladesh elections mark a pro-China tipping point in South Asia[/H1]
Beijing will celebrate a return of the Awami League the most. But Dhaka might struggle to balance India-China ties.
[H2]The Chinese strategic calculus[/H2]
The Chinese have identified opportunities in retaining the AL government. Since 2010, China's influence has been growing in the decision-making architecture of both Bangladesh and the AL at various levels. Beijing has strong strategic compulsions to turn Bangladesh into a state heavily dependent on it, like Myanmar and Cambodia.

Doing so will ensure easier Chinese access to Indian Ocean sea lanes, bypassing the Malacca Strait via the China-Myanmar Economic Corridor (CMEC) connecting Yunnan province to the seaport city of Kyaukpyu in Myanmar's Rakhine state. Geographically, the Ganga-Padma-Brahmaputra delta hosts the shortest land route to access the sea lanes from mainland China.

That was the British calculation when they set up Calcutta (now known as Kolkata), which was then part of undivided Bengal, as their transshipment point to support the East India Company's opium and tea trade with China. As things stand, AL in power will ensure a predictable, stable and favourable political climate to protect and promote China's large infrastructure investments in Bangladesh.
Bangladesh elections mark a pro-China tipping point in South Asia | Politics | Al Jazeera

 

[Old School]

Ambassador Yao Wen Calls on Bangladeshi Prime Minister Sheikh Hasina​

China will firmly support Bangladesh in safeguarding national sovereignty, independence and territorial integrity, and in opposing external interference. China will also support Bangladesh in maintaining unity and stability, and in playing a more active role in international and regional affairs. China is committed to assisting Bangladesh in realizing the "Vision 2041" and the dream of "Sonar Bangla" at an early date.
Ambassador Yao Wen Calls on Bangladeshi Prime Minister Sheikh Hasina (china-embassy.gov.cn)