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

[Bilal9]

A slew of 16 trade agreements (MOU) were signed with China in the trip made this week by the PM to Beijing.

They include the following sectors of investments between Chinese and Bangladesh companies,

1. A $50 Million agreement between Huawei and "Nogod" on money transfer infra
2. A $20 Million agreement between Huawei and "DEX Bangladesh Tech" for digital infra for capital market infra in Bangladesh (DEX is the tech arm of the Dhaka Stock Exchange)
3. Investment by China Road and Bridge Corp (CRBC) and Ningbo Xijing Corp. for Chinese Economic Zone infra in Bangladesh
4. A $400 Million investment (over 33 Acres of area at Mongla port) by China National Chemical Engineering Co., Ltd. (CNCEC) with Deshbandhu Chemtex for a Textile-grade Polyester Staple Fiber (PSF) chemical extrusion and PET bottle production plant. In my opinion probably the most important step to have self-sufficiency in local PSF production. PSF is spun into yarn and woven into various grades of Polyester textiles, which Bangladesh so far has not ventured into. It is mainly a cotton apparel exporter.
5. Two agreements signed with Chinese companies and EB solutions from Bangladesh:
   1. One with Guangdong Hongze Intelligent Technology Co., Ltd. for Dhaka Mobile Project
   2. One with Ningbo Shering New Energy Technology Co., Ltd. to invest in Bangladesh's Smart Cold Chain Logistic Solutions sector.
6. A $20 million investment for CNG transportation by river and road under the MoU on technical and financial investment collaboration between Intraco Refueling Station PLC and Shijiazhuang Enric Gas Equipment Co Ltd.
7. Zibo Jinhuateng Paper Machinery Co Ltd will invest in the paper machinery sector in Bangladesh jointly with Nitol Niloy Group. Both parties signed an MoU on it.
8. Zhengzhou Dongfeng Mid-South Enterprise Company will invest in TBR Tyre Projects in Bangladesh in collaboration with Nitol Niloy Group.
9. Shandong Sunite Machinery and Nitol Niloy Group signed an MoU to invest in Bangladesh's Aerated Autoclave Concrete (AAC) Block.
10. Dalian Huahan Rubber & Plastic Machinery will invest in Bangladesh's rubber machinery with Nitol Niloy group.
11. ZP Technology (Anhui) Co Ltd will invest in lithium batteries and electric vehicles in Bangladesh jointly with Nitol Niloy group.
12. Billion10 Communications Ltd and CHTC (HengYang) Intelligent EV Company Ltd signed an MoU on manufacturing electric vehicles.
13. Billion10 Communications Ltd and Ningbo Sun East Solar Co Ltd signed an MoU to set up a Solar Park in Sylhet.
14. Billion10 Communications Ltd and HeSheng (Hoshine) Silicon Industry Co Ltd signed an MoU to invest in the renewable energy industry.
15. Billion10 Communications Ltd and Zhongke Guorui (Zhuhai) New Material Technology Co Ltd signed an MoU to invest in Bangladesh's waste lubricant oil recovery and refining industry.

 

[Saif]

Bangladesh PM to seek China support for Rohingya return, dev

Prime minister Sheikh Hasina is set to hold bilateral talks with the China’s premier of the State Council, Li Qiang, and a separate meeting with Chinese president Xi Jinping in...

www.newagebd.net

Bangladesh PM to seek China support for Rohingya return, dev
Mustafizur Rahman 09 July, 2024, 19:30

| BSS photo.

Prime minister Sheikh Hasina is set to hold bilateral talks with the China's premier of the State Council, Li Qiang, and a separate meeting with Chinese president Xi Jinping in Beijing today with Dhaka's proposals for economic cooperation as well as China's support for repatriation of Rohingyas high on her agenda.

She is scheduled to hold the meetings with the Chinese leaders at the Great Hall of the People in the morning where at least 20 to 22 memorandums of understanding on cooperation in various areas, including the economic and banking sectors, infrastructure development, trade and investment, and the digital economy, are likely to be signed, according to officials concerned.

Bangladesh was likely to seek China's financial assistance amid pressure on its foreign currency reserves, the officials said.

'China's cooperation in development and their support for repatriation of Rohingya to Myanmar would get priority from our side in the bilateral talks,' foreign minister Hasan Mahmud told reporters in Beijing on Tuesday.

He said that China had already played an important role in the country's infrastructure development.

Bangladesh could not send a single Rohingya after the 2017 exodus amid military crackdown on the ethnic minority group in their Rakhine State by the Myanmar authorities, raising the number of forcefully displaced people sheltered here to about 11 lakh.

'Iconic structures like Padma Bridge and Bangabandhu Tunnel besides many other bridges and rail line projects have been completed with the support of China,' the foreign minister said, adding that development issues will be focused there in the bilateral talks to be attended by high-level delegations from both sides.

He said that Dhaka would also raise the issue of reducing the wide trade gap between China and Bangladesh.

About the change in the schedule of the prime minister who arrived in Beijing on Monday on a four-day visit, Hasan Mahmud said that the prime minister would leave for Dhaka on Wednesday night instead of Thursday morning since she did not have any events on the day.

This is Sheikh Hasina's 6th visit to China, he mentioned.

At a press conference in Dhaka on the prime minister's visit to China, the foreign minister earlier on Sunday said that no treaties but 20 to 22 MoUs on cooperation in various areas were likely to be singed following the bilateral talks in Beijing on June 10.

Asked whether the Teesta project issue would be discussed during the bilateral meeting with her Chinese counterpart in Beijing, the minister said that it might be discussed if the Chinese side raised the issue.

Addressing a press conference on her India visit from June 21 to 22, Sheikh Hasina said in Dhaka on June 25 that it would be easy for Bangladesh if the Teesta restoration project received support from India.

Beijing and New Delhi are already on a collision course after India's latest proposal to finance the Teesta restoration and management project.

China has already offered both financial and technical support for the project after conducting a feasibility study.

Bangladesh's finance minister, foreign minister, prime minister's private industry and investment adviser, and state ministers for commerce, energy, information and communication technology, along with a business delegation and senior officials concerned, are accompanying Hasina during the visit.

'The MoUs on cooperation in the economic and banking sector, trade and investment, digital economy, infrastructure development, assistance in disaster management, construction of the sixth and ninth Bangladesh-China friendship bridges, export of agricultural products from Bangladesh, and people-to-people connectivity are likely to be signed during the visit,' the foreign minister said.

Hasan, however, said that no loan agreement would be signed and no specific amount of financial assistance would be sought in the bilateral talks.

'There will be no loan deals. We will only sign MoUs on economic cooperation. Once all parameters are met, we will seek assistance in the finance and banking sectors as per our needs based on that MoU,' said Hasan in Dhaka.

Bangladesh is currently facing a severe dollar crisis, with foreign exchange reserves dropping to $26.81 billion in June this year from $46.15 billion in December 2021, according to Bangladesh Bank data.

According to the balance of payments and international investment position manual, the country's foreign exchange reserves were $21.78 billion at the end of June.

The reserve improved slightly in June after the International Monetary Fund released $1.152 for Bangladesh in the third tranche of a $4.7 billion loan package as much-needed economic relief for Bangladesh.

The foreign minister, however, dismissed concerns about pressure on foreign exchange reserves.

China is one of the largest trade partners of Bangladesh, with bilateral trade reaching $18.50 billion in the 2022–23 financial year, according to the latest data from the Dhaka Chamber of Commerce, which cited the Export Promotion Bureau and Bangladesh Bank sources.

The trade balance is heavily tilted towards China, which exported products worth $17.82 billion to Bangladesh and imported products, mostly jute yarn, worth $677.36 million from Bangladesh in the financial year.

Hasina last visited Beijing in July 2019.​

 

[Saif]

A slew of 16 trade agreements (MOU) were signed with China in the trip made this week by the PM to Beijing.

They include the following sectors of investments between Chinese and Bangladesh companies,

1. A $50 Million agreement between Huawei and "Nogod" on money transfer infra
2. A $20 Million agreement between Huawei and "DEX Bangladesh Tech" for digital infra for capital market infra in Bangladesh (DEX is the tech arm of the Dhaka Stock Exchange)
3. Investment by China Road and Bridge Corp (CRBC) and Ningbo Xijing Corp. for Chinese Economic Zone infra in Bangladesh
4. A $400 Million investment (over 33 Acres of area at Mongla port) by China National Chemical Engineering Co., Ltd. (CNCEC) with Deshbandhu Chemtex for a Textile-grade Polyester Staple Fiber (PSF) chemical extrusion and PET bottle production plant. In my opinion probably the most important step to have self-sufficiency in local PSF production. PSF is spun into yarn and woven into various grades of Polyester textiles, which Bangladesh so far has not ventured into. It is mainly a cotton apparel exporter.
5. Two agreements signed with Chinese companies and EB solutions from Bangladesh:
   1. One with Guangdong Hongze Intelligent Technology Co., Ltd. for Dhaka Mobile Project
   2. One with Ningbo Shering New Energy Technology Co., Ltd. to invest in Bangladesh's Smart Cold Chain Logistic Solutions sector.
6. A $20 million investment for CNG transportation by river and road under the MoU on technical and financial investment collaboration between Intraco Refueling Station PLC and Shijiazhuang Enric Gas Equipment Co Ltd.
7. Zibo Jinhuateng Paper Machinery Co Ltd will invest in the paper machinery sector in Bangladesh jointly with Nitol Niloy Group. Both parties signed an MoU on it.
8. Zhengzhou Dongfeng Mid-South Enterprise Company will invest in TBR Tyre Projects in Bangladesh in collaboration with Nitol Niloy Group.
9. Shandong Sunite Machinery and Nitol Niloy Group signed an MoU to invest in Bangladesh's Aerated Autoclave Concrete (AAC) Block.
10. Dalian Huahan Rubber & Plastic Machinery will invest in Bangladesh's rubber machinery with Nitol Niloy group.
11. ZP Technology (Anhui) Co Ltd will invest in lithium batteries and electric vehicles in Bangladesh jointly with Nitol Niloy group.
12. Billion10 Communications Ltd and CHTC (HengYang) Intelligent EV Company Ltd signed an MoU on manufacturing electric vehicles.
13. Billion10 Communications Ltd and Ningbo Sun East Solar Co Ltd signed an MoU to set up a Solar Park in Sylhet.
14. Billion10 Communications Ltd and HeSheng (Hoshine) Silicon Industry Co Ltd signed an MoU to invest in the renewable energy industry.
15. Billion10 Communications Ltd and Zhongke Guorui (Zhuhai) New Material Technology Co Ltd signed an MoU to invest in Bangladesh's waste lubricant oil recovery and refining industry.

Not all is fine and dandy. China has refused to offer $7 billion loan to Bangladesh during Sheikh Hasina's visit. I guess the refusal for granting the loan has to do with Bangladesh's inability to accept China's offer to implement the Teesta project by a Chinese company. Bangladesh's secretly requested India to implement the Teesta project.

 

[Bilal9]

Not all is fine and dandy. China has refused to offer $7 billion loan to Bangladesh during Sheikh Hasina's visit. I guess the refusal for granting the loan has to do with Bangladesh's inability to accept China's offer to implement the Teesta project by a Chinese company. Bangladesh's secretly requested India to implement the Teesta project.

Allah - where is the Backbone?

She is totally intent to sell us down the river to India (literally) despite Indian govt. not investing one red cent in Bangladesh without their own ill intent and selfish interest.

And then she has the cheek to go ask the Chinese for investments - which they have now responded with back-handed slap and some so-called "face saving" empty MOUs for her coterie of uneducated folks (like this guy who named his company "Billion 10" Company - wow!).

A time has to come when you have to take a stand. This woman does not know where her future interests lie.

How can Indian govt. make her (or Bangladesh') life so hard ?? She has to make a choice.

 

[Saif]

PM returns home from China

Prime Minister Sheikh Hasina reached home after wrapping up her three-day bilateral visit to the Chinese capital Beijing today

www.thedailystar.net

PM returns home from China

Photo: TV grab

Prime Minister Sheikh Hasina reached home after wrapping up her three-day bilateral visit to the Chinese capital Beijing today.

The premier went to Beijing on Monday afternoon at the invitation of her Chinese counterpart Li Qiang.

A special flight of the Biman Bangladesh Airlines carrying the prime minister and her entourage members landed at the Hazrat Shahjalal International Airport, Dhaka at 12:30am.

The flight earlier departed the Beijing Capital International Airport for home at 10:05pm (local time) on Wednesday.

During her stay in Beijing from July 8 to July 10, the Bangladesh prime minister held bilateral meetings with Chinese President Xi Jinping alongside a delegation level bilateral meeting with her Chinese counterpart Li Qiang on July 10.

Bangladesh and China signed 21 documents and made the announcement of seven projects following a delegation level bilateral meeting between Hasina and her Chinese counterpart at Great Hall of the People, Beijing on Wednesday afternoon.

The documents of cooperation were signed and exchanged between the two sides in presence of the two prime ministers.

The instruments involve the banking sector, trade and investment, digital economy, infrastructure, disaster management, export of agricultural products from Bangladesh, and people-to-people connectivity.

After attending the bilateral meeting and the signing ceremony, the premier attended a welcome banquet in her honour hosted by her Chinese counterpart at the Great Hall of the People.

On July 10 morning, Hasina was accorded a red carpet reception as she reached the Great Hall of the People to have a bilateral meeting with Li Qiang.

On her arrival at the premises, Hasina was received by the Chinese premier.

Hasina arrived in Beijing on Monday afternoon.

This visit of the Bangladesh premier to China has taken place within 15 days after her last visit to India from June 21 to 22.

The visit is believed to elevate the relations between Bangladesh and China to "comprehensive strategic cooperative partnership" from "strategic partnership".

Chinese President Xi Jinping visited Bangladesh in October, 2016 when the relationship between the two countries had reached a strategic partnership.

Hasina last visited Beijing in July, 2019. She also visited China on multiple prior occasions.

The two countries would celebrate the golden jubilee of diplomatic relations next year.

On July 9, President of Asian Infrastructure Investment Bank (AIIB) Jin Liqun paid a courtesy call on her at the meeting room of her Place of Residence.

Afterwards, the prime minister joined a summit on "Trade, Business and Investment Opportunities" between Bangladesh and China at the China World Summit Wing, Shangri-La Circle, Beijing, China.

In the afternoon, a meeting was held between the prime minister and the president of Consultative Party Wang Huning at the Great Hall of the People, Beijing.

The PM later placed a wreath at the Monument of the People's Heroes at Tiananmen Square.

In the evening, she attended a dinner hosted in her honour by the ambassador of Bangladesh to China at Bangladesh House in Beijing.​