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G Bangladesh Defense
[🇧🇩] China is a Time Tested Friend and a Strategic Partner of Bangladesh
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China-Bangladesh Relations in 2023: Laying Solid Foundation for Splendid Future​

(From Chinese Embassy in Bangladesh)​

2023-12-31 23:55
On December 31, 2023, H.E. Mr. Yao Wen, Ambassador of China to Bangladesh, contributed an article titled China-Bangladesh Relations in 2023: Laying Solid Foundation for Splendid Future to the annual publication of Diplomatic Correspondent Association of Bangladesh (DCAB). The full text of the article is as follows:

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The international political, economic and security situation has undergone profound changes in 2023. The world has just stepped out of the shadow of the COVID-19 epidemic. All countries are struggling to recover from economic depression. The spillover effects of the Ukraine crisis continue to spread, putting global food and energy security at risk. Certain major countries arbitrarily wield unilateral sanctions, making the situation of the Global South even worse. The conflict between Palestine and Israel makes Gaza a hell on earth, trampling on human conscience and morality day and night. Peace and development, the themes of our times, are facing unprecedented challenges. In this context, China, with an ultimate aim of fostering a new type of international relations and building a community with a shared future for mankind, has actively assumed its responsibilities as a major country, and kept injecting the power of peace, stability and development into the turbulent international situation.

In 2023, China has made significant progress in its major-country diplomacy with Chinese characteristics. The Belt and Road Initiative (BRI) proposed by Chinese President Xi Jinping celebrated its 10th anniversary. Over the past decade, the BRI has changed the development landscape across the world, and brought tangible benefits to the people of related countries. The 3rd Belt and Road Forum for International Cooperation was successfully held in Beijing, China. Over 10 thousand participants from every corner of the world made a resonating call in one voice for unity, cooperation, openness and win-win. The Forum ushered in a new phase of high-quality Belt and Road cooperation towards realizing the grand vision of world modernization leaving no one behind.

China has also vigorously promoted the Global Development Initiative (GDI), which encourages countries to work together to achieve all seventeen goals of the 2030 Agenda for Sustainable Development as schedule. Under the Global Security Initiative (GSI), China successfully mediated the restoration of diplomatic relations between Saudi Arabia and Iran, and spared no effort in facilitating Bangladesh and Myanmar to repatriate the displaced people from Rakhine State of Myanmar. China advocates and practices the true multilateralism, and firmly supports the United Nations in playing a central role in international affairs. Like always, China acts as a builder of world peace, contributor to global development, and defender of international order.

China and Bangladesh have jointly carried forward our Strategic Partnership of Cooperation this year. Chinese President Xi Jinping and the Hon’ble Prime Minister Sheikh Hasina held face-to-face talks again after four years, injecting new and strong impetus into the development of China-Bangladesh relations. Throughout the election year of Bangladesh, China has always extended its firm support to Bangladesh in safeguarding national sovereignty, independence and territorial integrity, and opposing external interference. It is our true belief that the upcoming election is an internal affair of Bangladesh, and the future and destiny of Bangladesh should be decided by no one but its own people. China will always stand by the Bangladeshi people in pursuing a better tomorrow. China-Bangladesh relations is based on mutual respect and win-win outcome. It finds its root in the people and truly benefits the people. Thus it is aspired and supported by the people. Any attempt to disrupt or obstruct China-Bangladesh friendship and cooperation would be refused by the two peoples and doomed to failure.

The year of 2023 marks the harvest season of the Belt and Road cooperation between China and Bangladesh. Fourteen mega infrastructure projects have been completed or advanced within the year. The Hon’ble Prime Minister Sheikh Hasina personally inaugurated the Bangabandhu Sheikh Mujibur Rahman Tunnel and several other projects. China's investment stock in Bangladesh has increased to nearly 1.4 billion USD. Approximately seven hundred Chinese companies are operating in Bangladesh. They have created over 5.5 lakh job opportunities for local people. Facts tell the truth that, on the journey of Bangladesh’s modernization, the BRI is the most befitting development cooperation initiative with Vision 2041 and Smart Bangladesh. The Hon’ble Prime Minister Sheikh Hasina spoke highly of the BRI that it has opened a new door for Bangladesh’s development.

In 2023, personnel and cultural exchanges between China and Bangladesh have also resurged. China has introduced a series of measures to facilitate international travel between the two countries. Visits and exchanges have increased rapidly between the government authorities, parliaments, militaries, political parties, think tanks, universities, media, youths, artists, athletes and other sectors. On the eve of the International Children’s Day, Chinese President Xi Jinping replied Alifa Chin, a Bangladeshi girl, with a cordial letter, in which he encouraged Bangladeshi youths to dedicate to China-Bangladesh friendship. The letter aroused enthusiastic responses from both countries, injecting new historical significance and contemporary connotation to the China-Bangladesh relations. When Bangladesh fights with the severest dengue epidemic in history, the Chinese Government and people are also deeply affected by the sufferings of the Bangladeshi people. The Chinese side provided a batch of anti-dengue assistance to Bangladesh and deployed it to local hospitals timely. With the joint efforts of the two countries, Bangladesh is expected to overcome the dengue epidemic soon.

Looking ahead, China stands ready to work with Bangladeshi friends from all walks of life, especially the new government, to firmly seize the historical development opportunities, fully translate our economic complementarity into joint competitiveness, and proactively deepen strategic integration under the banner of high-quality Belt and Road cooperation, the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative. We encourage cross-board exchanges between the two countries. Specifically, China would prioritize infrastructure development, ICT, new energy and agriculture in the cooperation plan. Together, we would uplift China-Bangladesh relations to a higher level on the occasion of the 50th anniversary of the establishment of our diplomatic ties.​
 
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India to keep 'close watch' on first China-Bangladesh military exercise
The Chinese People's Liberation Army will dispatch a contingent to Bangladesh in early May to participate in the joint training, Xinhua reports

Senior Correspondentbdnews24.com
Published : 26 April 2024, 01:13 AM
Updated : 26 April 2024, 01:13 AM


View attachment 5402

As Bangladesh and China are set to hold their first joint military exercise, India says it will keep a 'close watch' on the training as it does in case of other developments in the region.

Citing the Chinese Ministry of National Defence, Xinhua news agency on Thursday said the Chinese People's Liberation Army will dispatch a contingent to Bangladesh in early May to participate in the joint training.

This joint training, based on United Nations peacekeeping anti-terrorism operations, will involve both sides utilising an integrated training approach, according to the report.

They will jointly organise exercises such as the rescue of hostages on buses and the clean-up of terrorist camps, Xinhua said.

This marks the first joint training ever between the Chinese and Bangladeshi armies, the Chinese defence ministry said, noting that such activity is conducive to "enhancing mutual understanding and friendship between the two militaries and deepening practical exchanges and cooperation".

Randhir Jaiswal, the spokesperson for the Indian external affairs ministry, faced questions on the report in his regular press briefing on Thursday.

He said: "Regarding your questions about joint military exercise, as you heard me speak about it several times from this podium: We keep a close watch on all developments that happen in our neighbourhood and beyond, which impact our interests, economic and security interests and we take appropriate measures accordingly."​

Funny enough - when Indian Army holds joint exercises with Bangladesh Army, PLA does not pass comments - that they would "closely watch" anything.

In my opinion - this is the difference between the two countries.
 
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These Indian a.holes need to learn respecting other nation's sovereignty and stop interfering in their domestic affairs. Bangladesh is a sovereign nation and has the right to choose friends of her own free will. China is our strategic partner and also the biggest weapons supplier. So, military exercise between the two nations is only normal which is not aimed at India.

Well let's not devolve into name calling though I get your frustration. :)

Their govt. and MOFA are what they are - we know what they have continued to profess and practice and maybe will also do so in the future.

We need better leverage and stronger leaders. Waqt ayega.

I'd say that there is a large swath of the Indian population though, who do not agree with their govt's Dadagiri practices in the neighborhood.

The price paid for this will be dear for them.
 
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At least the Chinese are better than Americans. lol.
 
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Chinese investors express interests to shift investment to Bangladesh
4 May 2024, 12:00 am

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Staff Reporter :

Many Chinese investors are considering Bangladesh as an ideal destination for investment in the current global geopolitical and economic situation. They are, therefore, interested in shifting investments to Bangladesh including placing new investments.

The Chinese investors expressed this interest in a side table discussion at the end of a seminar titled "Investment Opportunities in the Export Processing Zones and BEPZA Economic Zone of Bangladesh" organised by Bangladesh Export Processing Zones Authority (BEPZA) in Quanzhou City, Fujian Province, China.

BEPZA in association with the Quanzhou Maritime Silk Road Industry and Commerce Association organised the seminar on 30 April 2024. About 100 participants attended the seminar of various Chinese investment organizations/industrial groups who have their interest in investing in Bangladesh.

BEPZA Executive Chairman Major General Abul Kalam Md Ziaur Rahman, BSP, ndc, psc attended the seminar as the chief guest. Presenting an overall picture of the current favourable investment climate prevailing in Bangladesh, especially Foreign Direct Investment (FDI) he said that Bangladesh has experienced tremendous growth over the last decade. The strategic geographical location, demographic dividend, large & expanding domestic market, stable socio-political environment, etc. are the key contributors to the rapid economic development, he added.

Major General Zia said that the main attraction of investment in Bangladesh is the most inexpensive, productive, abundant and easily trainable workforce. He said that Bangladesh has been consistently liberalizing its foreign investment policies over the time. The Government has formulated "One Stop Service Act" for the Investment Promotion Agencies of Bangladesh to provide faster and better services, he added.

Mentioning the expansion plan of BEPZA the executive chairman said, along with the eight operational EPZs, BEPZA is establishing an Economic Zone in Mirsharai, Chattogram which has already attracted 28 industries in its development stage, and a few of them started production. Moreover, establishment of three new EPZs are also under process which will be ready for the investors by the end of 2025. He urged Chinese investors to invest in these zones under BEPZA.

In the welcome speech, Lino, one of the senior members of the host association thanked BEPZA delegation and expressed his positive impression about Bangladesh.

Changsong Chen, the Vice Chairman of Quanzhou Maritime Silk Road Industry and Commerce Association, in his speech as the Special Guest, highlighted the long-standing friendly relations between Bangladesh and China and invited Chinese investors to invest in Bangladesh.

In the evening, the BEPZA delegation attended a dinner hosted by the city mayor. Some investors interested in investing in Bangladesh also attended the dinner where bilateral investment issues were discussed. During the dinner, discussions were also held regarding organizing training programs between China's Fujian Province and Bangladesh for the workers-employees.​
 
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Beyond Dollar: Bangladesh to seek over 36b yuan in Chinese loans

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Bangladesh is going to seek more than 36 billion yuan, equivalent to $5 billion, as soft loans from China to reduce pressure on its dollar reserves.

According to highly placed sources in the government, the country will use the money to help businesses import raw materials and also for budget support.

Bangladesh exported goods worth $677 million to China and imported goods worth $22.90 billion in fiscal 2022-23, according to data from the commerce ministry. China is Bangladesh's single largest trading partner.

Sources in the finance and commerce ministries said the Prime Minister's Office has already given the go-ahead and officials are now discussing the interest rate and repayment periods. They are also discussing how and where the money would be spent.

They said that officials of the Finance Division, commerce ministry, Economic Relations Division, and the National Board of Revenue at a recent meeting gave opinions that the loan should be long-term and the interest rate should not be above 1 percent.

According to the sources, the main purpose of the loan is to reduce pressure on the depleting reserves, which stood at $19.95 billion as of April 30.

In September 2022, Bangladesh Bank allowed settlement of international trade in Chinese yuan to cut excessive dependence on the dollar

The government wants to support the businesspeople in importing raw materials as the Bangladesh Bank's decision to slash the volume of the Export Development Fund (EDF) has put them in a tight spot.

The central bank brought down the EDF volume to around $2 billion from about $7 billion in mid-2022 when reserves came under pressure following a surge in imports.

BB also raised the interest rate on EDF loans to 4.5 percent from 4 percent in April last year.

According to a BB circular on April 9, 2023, an exporter can take loans of $10 million but a member of Bangladesh Garment Manufacturers and Exporters Association can get as much as $20 million.

According to the rules for the EDF loan, the borrower has to repay within 180 days but in some cases 210 days is allowed.

The sources said Bangladesh, during the loan negotiations, will ask for flexible terms so that the money can be used for trade with other countries alongside China.

The interest rate and the repayment term would be finalised at that time, according to a top official at the commerce ministry.

State Minister for Commerce Ahasanul Islam Titu brought up the loan issue during bilateral talks with his Chinese counterpart on the sidelines of the 13th Ministerial Conference of World Trade Organisation in Abu Dhabi between February 26 and March 2.

After the conference, the state minister wrote to the Chinese minister thanking him and mentioned their discussion on the loan. In response, the Chinese minister said his government in principle agreed to it and asked Ahasanul to proceed.

The commerce ministry then asked the Finance Division and the Economic Relations Division to get the PMO's nod.​
 
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