Together, Bangladesh and China can bring prosperity for both countries: PM

Prime Minister Sheikh Hasina on Tuesday said now is the time for Bangladesh and China to explore new areas of further collaboration in trade and investment to create a prosperous future for both, reports UNB.

“It is time for us to explore new areas of further collaboration in trade and investment. Together, we can create a prosperous future that benefits both our countries and people,” she said.

The prime minister was speaking at a summit on Trade, Business and Investment Opportunities between Bangladesh and China at China World Summit Wing, Shangri-La Circle, Beijing.

It was organised by the Embassy of Bangladesh in Beijing, BIDA, BSEC and CCPIT.

Hasina said that the partnership between Bangladesh and China holds unbound promise as both countries are looking to the future.

“Our shared vision for economic growth, technological advancement, and sustainable development forms the cornerstone of our bilateral relations,” she said.

She also extended an open invitation to Chinese businesses to visit Bangladesh, explore the opportunities, and experience the warmth and hospitality of our people.

“You will find in us all the support and assistance you need. Let us work together to build a stronger, more prosperous, and more connected world. It is time to invest in Bangladesh, and I am confident that with our hands joined, together we can achieve great things,” she said.

The prime minister said that China is the largest partner of Bangladesh, with trade volumes increasing year by year.

However, she said, there remains immense potential to further expand the trade ties.

“We are committed to addressing trade imbalances and creating a more equitable trade relationship,” she said.

She mentioned that Bangladesh is keen to export more products to China, such as textiles, garments, leather goods, jute products, and agricultural produce.

“We welcome Chinese investments in our export-oriented industries, which will help us diversify our export basket and reduce trade deficits,” she said.

To enhance business cooperation, Sheikh Hasina encouraged Chinese companies to form joint ventures with Bangladeshi firms.

“This collaboration will facilitate technology transfer, skill development, and market access for both parties. Investment in research and development is crucial for fostering innovation and competitiveness,” she added.

She invited Chinese companies to establish R&D centers in Bangladesh, leveraging Bangladesh’s skilled workforce and academic ingenuity.

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The prime minister encouraged the Chinese business community to consider key sectors in Bangladesh and welcomes investments in infrastructure, energy, and logistics sectors.

“We believe there is significant potential for Chinese investment, particularly in the energy sector, including renewable energy,” she said.

She mentioned that Climate-resilient smart farming opens opportunities for collaboration in agro-processing industries, with buy-back arrangements with China.

“We plan to establish three special tourism zones where China can invest in the real estate and hospitality sectors.”

She also urged Chinese investors to explore portfolio investments in Bangladesh as the Bangladesh Securities and Exchange Commission (BSEC) is actively working to further develop our capital markets.

“The aim is to make them more attractive to foreign investors. We have made significant progress in developing a robust bond market. We are on the brink of introducing derivative products, which will further diversify and widen our financial markets," she said.