[🇧🇩] 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.​

 

[Saif]

Allah - where is the Backbone?

India has stolen it

 

[Saif]

China, Bangladesh elevate ties, broaden cooperation - Global Times

www.globaltimes.cn

China, Bangladesh elevate ties, broaden cooperation
Co-op does not target any third party, benefits peace, development: analyst
By Wang Qi
Published: Jul 10, 2024 10:50 PM

Chinese President Xi Jinping meets with Prime Minister Sheikh Hasina of the People's Republic of Bangladesh at the Great Hall of the People in Beijing on July 10, 2024. Photo: Xinhua

China and Bangladesh on Wednesday elevated their relations to a comprehensive strategic cooperative partnership. Chinese President Xi Jinping and Bangladeshi Prime Minister Sheikh Hasina announced this while meeting in Beijing.

Experts described Hasina's visit to China as a journey of cooperation and friendship. Although some Indian media outlets are seemingly concerned about the visit, experts said the development of China-Bangladesh ties does not target any third party, and will be conducive to overall peace and stability in South Asia.

During Wednesday's meeting, Xi told Hasina that China and Bangladesh are good neighbors who know each other well and have had friendly exchanges for thousands of years. Since the establishment of diplomatic relations, the two countries have always respected and supported each other, treated each other as equals, and cooperated for win-win results, setting an example of friendly exchanges and mutually beneficial cooperation between countries, especially between the "Global South."

China cherishes the profound friendship established by the older generation of leaders of China and Bangladesh, and is willing to take the 50th anniversary of the establishment of diplomatic relations next year as an opportunity to deepen the high-quality joint construction of the Belt and Road Initiative (BRI) and expand the depth and breadth of cooperation in various fields, the Chinese President said.

Xi stressed that China supports Bangladesh in adhering to an independent foreign policy, following a development path that suits its national conditions, safeguarding national sovereignty, independence and territorial integrity, and opposing any external interference.

Hasina said that Bangladesh firmly adheres to the one-China principle, supports China's stance on the Taiwan question, resolutely opposes external forces' interference in China's internal affairs, and firmly supports China in safeguarding its core interests.

Earlier on Wednesday, Chinese Premier Li Qiang also met with Hasina. According to the Bangladesh Sangbad Sangstha (BSS), the country's national news agency, the two countries have signed 21 instruments including two renewed MoUs and announced seven more projects.

Talks between Li and Hasina mainly concerned trade and investment, as well as bilateral relations alongside various regional and international matters, according to BSS. The instruments on cooperation in the economic and banking sector, trade and investment, digital economy, infrastructure development, assistance in disaster management, construction of 6th and 9th Bangladesh-China friendship bridges, export of agricultural products from Bangladesh and people to people connectivity were signed.

Closer economic, trade ties

While in Beijing, Hasina attended the "Bangladesh-China Business, Trade and Investment Summit" on Tuesday and delivered a keynote speech.

Hasina said she "encouraged the Chinese business community to consider key sectors in Bangladesh, such as energy, renewable energy and logistic centers," adding that Bangladesh is also "keen to export more products to China, such as textiles, garments, leather and leather goods and other products," according to CGTN.

At the event, industry giants Huawei and China National Chemical Engineering Group Corporation signed a Memorandum of Cooperation with delegates from Bangladesh.

Qian Feng, director of the research department at the National Strategy Institute at Tsinghua University, said the visit by Hasina is a link between the past and the future for bilateral relations, especially in promoting high-level cooperation in the field of economy and trade.

The development strategies of the two countries will be further synergized, and more economic and trade cooperation projects are expected to be implemented in the future, injecting more substantive connotations into the duo's strategic cooperative relations, Qian said.

In the latest trade data released by China's General Administration of Customs, from January to May, China-Bangladesh bilateral trade amounted to 74.91 billion yuan ($10.30 billion), gaining a positive growth of 0.2 percent year-on-year. China remains Bangladesh's largest trading partner.

Moreover, China has also been one of the largest sources of investment in the South Asian country. As of the end of 2023, China's investment stock in Bangladesh had increased to nearly $1.4 billion, and there were nearly 700 Chinese-funded companies in Bangladesh, creating more than 550,000 jobs, according to the Chinese Embassy in Bangladesh.

Hasina's visit to China will further promote the traditional friendship between the two countries, said Hu Zhiyong, a research fellow with the Institute of International Relations at the Shanghai Academy of Social Sciences.

Through cooperation over the past years, Bangladesh has clearly seen how China's development ideas and experience have played a huge role in promoting the economic and social development of Bangladesh, Hu said.

"Specifically, the economic and technical assistance of Chinese enterprises in Bangladesh's infrastructure construction, China's assistance in training local medical and health professionals in Bangladesh, and the increase in the scale of people-to-people exchanges between the two countries," Hu added.

The pragmatic cooperation between the two countries is an illustration for more South Asian countries to understand China's concept of good-neighborly friendship, the idea of sharing the fruits of development, and the image of China as a responsible major power, Qian said.

Balance and opportunity

Hasina also talked with China's top political advisor Wang Huning on Tuesday. Wang, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), said that under the strategic guidance of the two countries' leaders, China and Bangladesh respect and treat each other with equality, setting a good example of friendly coexistence and mutually beneficial cooperation between countries.

But some Indian media outlets viewed Hasina's China visit as "a balancing act to keep the two key players happy," as "she needs India to be in power, and China for economic support." Some Indian media also talked down the cooperation between Beijing and Dhaka.

Hasina's visit to Beijing took place shortly after her visit to New Delhi, which tends to view some other South Asian countries including Bangladesh as its sphere of influence. Hasina made a two-day visit to India from June 21 to 22, during which the two sides signed agreements to expand cooperation in maritime security, the ocean economy, space and telecommunication sectors.

Before Hasina's visit to China, Bangladesh's ruling Awami League general secretary and Road Transport and Bridges Minister Obaidul Quader said on July 6 that "India is a political friend of Bangladesh and China is a development partner," explaining the country's relationship with two major powers.

Some analysts said that with the intensifying geopolitical game, some South Asian countries such as Bangladesh are facing a tough situation: If they want to achieve rapid economic and social development, they need to cooperate with China. However, close economic cooperation with China will inevitably draw political and security pressure from countries such as India and the US.

India always uses various excuses to obstruct and create hype whenever a South Asian leader visits China, but New Delhi should not be overly concerned that other countries' engagement with China will damage their relations with India, Hu said.

The development of bilateral relations between China and Bangladesh promoted by Hasina's visit will be conducive to the overall peace and stability in South Asia, Hu said.

The development of China-Bangladesh relations does not target any third party, said Qian, noting that China always opposes zero-sum game and stands for mutually beneficial cooperation.

Against the backdrop of complex geopolitics, China respects Bangladesh's strategic choice and has no objection to Bangladesh developing friendly and cooperative relations with other countries, Qian said.

For Bangladesh, in the face of pressure from India, the development of China-Bangladesh relations also provides a valuable choice for Dhaka to better safeguard its diplomatic independence and development opportunities, Qian said.​

 

[Saif]

PM’s China visit: Dhaka now has to play its cards right

Prime Minister Sheikh Hasina’s China visit has laid the foundation for a forward-looking and expansive relationship and Dhaka now needs to play its due role to make the most of it, according to international relations analysts.

www.thedailystar.net

PM's China visit: Dhaka now has to play its cards right
Say int'l relations experts

Photo: BSS

Prime Minister Sheikh Hasina's China visit has laid the foundation for a forward-looking and expansive relationship and Dhaka now needs to play its due role to make the most of it, according to international relations analysts.

Following their meeting on July 10, Hasina and Chinese President Xi Jinping announced the elevation of the bilateral relationship to "Comprehensive Strategic Partnership of Cooperation" (CSPC) from the "Strategic Partnership of Cooperation" established in 2016.

The elevation of the bilateral relationship to CSPC means the cooperation will deepen in all the sectors possible keeping in mind Bangladesh's vision for 2041, said M Humayun Kabir, a former diplomat.

Xi and Hasina agreed to "foster greater synergy between development strategies of the two countries", according to the joint statement issued on the conclusion of Hasina's three-day tour.

The Asian giant has huge capabilities in funding, technology, clean energy, healthcare, infrastructure and so on, according to Kabir.

"The question is if Bangladesh will be able to take advantage of the new relationship with China," he said.

The two sides agreed to deepen cooperation in trade, investment and finance, and to conclude the joint feasibility study on a China-Bangladesh free trade agreement.

"This will significantly boost trade between the two countries," said Kabir, also the president of Bangladesh Enterprise Institute, a non-profit, non-political research centre.

China is Bangladesh's largest trading partner by a wide margin, with bilateral trade amounting to upwards of $25 billion. However, Bangladesh's exports account for less than 3 percent of the sum.

"China has completed the entry procedures for Bangladesh's fresh mango exports to China, and welcomes Bangladesh to expand exports of jute, leather, aquatic products and other high-quality special products to China. The two sides agreed to further strengthen communication on the export of high-quality Bangladeshi agricultural products to China," the joint statement said.

Ahead of the three-day visit, there was expectation that Beijing would provide a $5 billion loan in yuan for trade facilitation to help Bangladesh cope with the strain on currency reserves, and billions more for projects.

At a press briefing after Hasina's meeting with Li Qiang on Wednesday, Foreign Minister Hasan Mahmud said China has agreed to provide 1 billion yuan (about $137 million) in assistance. However, the joint statement does not mention this assistance extended to Bangladesh.

China has now become more cautious in giving out loans after it was blamed for the economic crisis in some countries such as Sri Lanka, said Kabir, who served as Bangladesh's ambassador to Nepal and the US and the high commissioner to Australia.

In case of Bangladesh too, China is exercising the same caution.

For instance, China has decided to form a joint technical committee for assessing the projects proposed by Bangladesh, Kabir said.

"I would say that this visit is meant to build a relationship that is futuristic and expansive," he added.

China committed to provide about $20 billion during Xi's visit to Dhaka in 2016 for a host of mega projects. Some of the projects are yet to be implemented. So Bangladesh did not get the full amount pledged.

"So, China wants better scrutiny this time -- Beijing would like to look at the nitty-gritty of the projects this time," said Mahbub Uz Zaman, former ambassador to China.

Xi spoke about building party-to-party relationship between the Communist Party of China (CPC) and the ruling Awami League in Bangladesh. He said "good governance requires good party".

Asked what this means, Imtiaz Ahmed, executive director of the Centre for Alternatives, said: "This is Chinese approach of building relationship, which they do everywhere. Through this, they find it easier to implement their policies."

The Awami League can learn discipline and governance of the party from the CPC, said Ahmed, also a professor of international relations at the University of Dhaka.

Xi also assured Hasina of support for repatriating the more than a million Rohingya. However, analysts say how far it will work will depend on the situation in Myanmar, which is now going through a civil war.

Repatriation has not been possible in the last seven years despite several efforts including under a tripartite mechanism under Chinese leadership.

On this, Kabir said: "Chinese assurance is great and is required for the solution, but we will have to wait to see what happens in Myanmar, particularly in the Rakhine State in the days to come."​

 

[Saif]

The following video is about China's contribution to Bangladesh's overall development.

 

[Saif]

Will there be any uptick in investment after PM’s China visit?

There was an expectation that investment inflows from China to Bangladesh would increase substantially following the Covid-19 pandemic as investors in China were looking for an alternative manufacturing hub.

www.thedailystar.net

Will there be any uptick in investment after PM's China visit?

There was an expectation that investment inflows from China to Bangladesh would increase substantially following the Covid-19 pandemic as investors in China were looking for an alternative manufacturing hub.

But that has not happened in reality. Instead, over the past six years, investment inflow from China has witnessed ups and downs but has remained far from the heights it had hit in the past.

Around $1.03 billion was invested in Bangladesh from Chinese sources in FY18 and $626 million in FY19. But the inflow fell to just $91 million in FY20 during the height of the pandemic. There were signs of recovery afterwards as $408 million arrived from China in FY21, but that number declined to $187 million in FY22 and $260 million in FY23.

The Chinese Economic and Industrial Zone (CEIZ) in Chattogram has often been highlighted as one avenue for boosting Chinese investment in Bangladesh. But construction of the project is yet to start despite eight years having passed since the Bangladesh Economic Zones Authority (Beza) first took the initiative.

Furthermore, a joint feasibility study to sign a free trade agreement (FTA) between Bangladesh and China has already been conducted. But the date for the beginning of formal negotiations remains unclear.

Against such a bleak backdrop, Bangladeshi businessmen were optimistic that Prime Minister Sheikh Hasina's recent visit to Beijing would provide the necessary impetus for the expansion of bilateral trade and increased foreign direct investment (FDI) from China.

During the visit, Bangladeshi and Chinese companies signed 16 memoranda of understanding (MoUs) to boost investment in Bangladesh. Under four of those MoUs, Bangladesh is set to receive $490 million.

The Chinese companies are expected to invest in Bangladesh's textile, electric vehicle, solar power, fintech and technology sectors.

Nihad Kabir, a former president of the Metropolitan Chamber of Commerce and Industry, said that alongside Chinese investors, the Asian Infrastructure Investment Bank had also shown an interest in investing heavily for big infrastructure projects in Bangladesh.

If the investments materialise as per the investment proposals and MoUs, it will bring a substantial amount of FDI from China, she said.

Although Kabir said that it would take time for the investments to materialise, she also highlighted the importance of the MoUs.

Ashraf Ahmed, president of the Dhaka Chamber of Commerce and Industry, said the visit occurred at a crucial time and is expected to open new areas of cooperation for trade and investment.

According to him, private sector trade and investment flows between the two countries are significantly larger than government-to-government transactions.

The visit focused largely on promoting cooperation between the two countries' private sector, he said, adding that widening trade in that area was very important for economic growth.

As of now, Bangladesh is operating on a large trade deficit with China. But exports to China have to be enhanced eventually to balance that, he said.

To that end, Ahmed said Bangladesh needs to position itself for growing markets in China, especially in areas where it has a competitive advantage.

Al Mamun Mridha, secretary general of the Bangladesh China Chamber of Commerce and Industry, said Chinese investors are keen to invest in different sectors.

He added that a high-powered business delegation would visit Bangladesh immediately to explore the country's business potential.

He added that around 1,000 Chinese investors and academicians took part in a trade and business summit during the Prime Minister's visit to Beijing.

Siddiqur Rahman, a former president of the Bangladesh Garment Manufacturers and Exporters Association, opined that Bangladesh would benefit from Chinese investment whether it is under a joint venture or not.

Additionally, Chinese businessmen will also benefit as their products will enter the US market for a lower duty than that levied on goods made in China, he said.

However, he ruled out a reduction in the trade gap between the two countries as Bangladesh is dependent on China for raw materials but China possesses everything from raw materials to technology and capital.

In a post made on the social media platform X, formerly known as Twitter, Salman F Rahman, the private industry and investment adviser to Bangladesh's prime minister, said Chinese President Xi Jinping has assured Bangladesh of several types of economic assistance, including interest-free loans.

Bangladesh and China will celebrate 50 years of diplomatic relations in 2025. On this occasion, China is keen to work on several projects to strengthen bilateral relations, he said.

Rahman added that China has promised to increase imports of jute and leather products, pharmaceuticals, mangoes and other fruits, and ceramics from Bangladesh and pledged to provide training in various trade, technical, agricultural and manufacturing sectors while also increasing scholarships for students.

Bangladesh exported goods worth $677 million to China while imported goods worth $22.90 billion from the nation in FY23, according to commerce ministry data.​