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Zawya
02-04-2025
- Business
- Zawya
Bangladesh, China sign nine agreements
Beijing: Bangladesh and China on Friday signed one agreement on economic and technical cooperation and eight Memorandum of Understanding (MoUs) on translation and production of classics, exchanges and cooperation on cultural heritage, news exchange, media, sports and health sectors, Bangladesh's Chief Adviser's Press Wing said in a statement. The agreements were signed in Beijing during Bangladesh's Chief Adviser Muhammad Yunus' China visit. Muhammad Yunus also met Chinese President Xi Jinping and two sides issued a joint press release. "In addition to this, five announcements were made on the launching of formal negotiations on investment, the announcement of the commencement of the China Industrial Economic Zone, the signing of a commercial agreement for the modernisation and expansion of Mongla port, the building of a robot physiotherapy and rehabilitation centre, and the donation of a cardiac surgery vehicle", it added. "Bangladesh reiterated its firm commitment to the One-China principle and its position that the Government of the People's Republic of China is the sole legal government representing the whole of China, and Taiwan is an inalienable part of China's territory. Bangladesh opposes "Taiwan independence." Bangladesh supports China on issues pertaining to China's core interests and China's efforts to safeguard its national sovereignty and territorial integrity", the joint press release said. According to the joint press release, Bangladesh expressed readiness to work with China to further develop the Chinese Economic and Industrial Zone (CEIZ). "Bangladesh welcomes Chinese companies to participate in the Mongla Port Facilities Modernization and Expansion Project, and stands ready to work with the Chinese side to further develop the Chinese Economic and Industrial Zone (CEIZ) in Chattogram", the joint press release said. "The Bangladeshi side welcomes Chinese companies to participate in the Teesta River Comprehensive Management and Restoration Project (TRCMRP)", the joint press release said. During the meeting, Muhammad Yunus and Xi Jinping discussed bilateral issues, including trade and investment. Shariqul Alam, Press Secretary to the Chief Advisor, termed the meeting between the two leaders as "most important and successful." He said that Yunus highlighted Bangladesh's historical ties with China. "Professor Yunus' meeting with Xi Jinping was the most important and successful. The meeting was very cordial. Professor Yunus highlighted Bangladesh's historical connection with China and mentioned the 50-year anniversary of the diplomatic relations between our two countries," Alam said. "He (Yunus) discussed about our issues with China and the important thing is that the Chinese President responded positively about each issue and said China is fully supportive about Professor Yunus's government", the Press Secretary to the Chief Adviser said. According to Alam, Xi Jinping said he will encourage Chinese investors to invest in Bangladesh. "An important aspect of this visit was to invite Chinese investors to Bangladesh. Professor Yunus mentioned it at the meeting. Xi Jinping responded saying that he will encourage Chinese investors to invest in Bangladesh," the Press Secretary to Yunus said. He said that discussions have been held on undertaking a project on the Teesta River in Bangladesh with Chinese assistance. Alam expressed hope that Bangladesh's relations with China will move to a new scale and a new chapter will be opened. "There was a discussion on water resource management and the issue of Teesta also came up", he said without elaborating. © Muscat Media Group Provided by SyndiGate Media Inc. (
Zawya
02-04-2025
- Business
- Zawya
Bangladesh secures $2.1bn in investments, loans and grants from China
Dhaka: Bangladesh has secured a commitment of USD 2.1 billion in Chinese investments, loans, and grants from the Chinese government and its companies during Chief Adviser Muhammad Yunus's "milestone" visit to China. Bangladeshi officials and the Chinese ambassador to Dhaka, Yao Wen, said nearly 30 Chinese companies have pledged to invest one billion dollars in the exclusive Chinese Industrial Economic Zone after the Chief Adviser urged private enterprises to invest in Bangladesh's manufacturing sector. China has also planned to lend some USD 400 million in the Mongla port modernisation project, some USD 350 million in the development of the China Industrial Economic Zone and another USD 150 million as technical assistance. The rest of the amount would come as grants and other forms of lending. "It is a milestone visit," Chinese envoy Yao Wen said, referring to the Chief Adviser's first four-day-long bilateral tour to China. Ashik Chowdhury, the Executive Chairman of the Bangladesh Investment Development Authority and Bangladesh Economic Zone Authority, said the visit could propel a "surge" of Chinese investment to Bangladesh. During the bilateral meeting, Professor Yunus has requested President Xi Jinping to give his "green signal" to Chinese private companies to invest in Bangladesh. Chowdhury said President Xi affirmed that he would encourage Chinese firms to relocate their manufacturing plants to Bangladesh as they look to diversify their production destinations. "This visit will play a big part in persuading many Chinese companies to invest in Bangladesh. It is just a matter of time," he said. On Friday, Professor Yunus and Ashik Chowdhury briefed officials of more than 100 Chinese companies, including some of the biggest in the world, to invest in manufacturing in Bangladesh, especially in advanced textiles, pharmaceuticals, light engineering and renewables. They spoke in three interactive sessions in Beijing. "So far, the response is very positive," he said. © Muscat Media Group Provided by SyndiGate Media Inc. (
