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By Tajul Islam
On June 25, Liu Jianchao, the visiting Minister of the Worldwide Relations of the Communist Social gathering of China (CPC)’s Central Committee reaffirmed China’s dedication to fostering in depth cooperation with Bangladesh. Throughout a courtesy name on Bangladesh President Mohammed Shahabuddin on the Bangabhaban, Liu emphasised China’s dedication to bolstering improvement ties and guaranteed that China would proceed to help Bangladesh’s progress in numerous sectors.
The connection between Bangladesh and China is deeply rooted in historical past. President Shahabuddin expressed his hope for a stronger improvement partnership with China within the coming years. He additionally sought China’s help for Bangladesh’s bid to hitch the BRICS alliance, an intergovernmental group comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.
“China all the time attaches nice significance to bolster the event ties with Bangladesh. It should all the time be beside Bangladesh’s improvement,” Liu said, underscoring China’s enthusiasm for a collaborative future. He praised Bangladesh’s notable progress in infrastructure, data know-how, communication, vitality, and tourism. This recognition from a significant world participant like China highlights the numerous strides Bangladesh has made in these fields.
President Shahabuddin reciprocated the sentiment, acknowledging China as one among Bangladesh’s most vital improvement companions. He highlighted China’s instrumental position in implementing mega initiatives such because the Padma Bridge Rail Hyperlink, Karnaphuli Tunnel, and Elevated Expressway. These initiatives have been pivotal in accelerating Bangladesh’s financial improvement and enhancing its infrastructure.
Liu Jianchao knowledgeable Bangladesh that China is in favour of the growth of BRICS and can strongly help Bangladesh in turning into a companion nation. He additionally assured that China would positively take into account permitting “Responsibility Free Quota Free” (DFQF) amenities to Bangladesh past 2026.
Overseas Minister of Bangladesh Hasan Mahmud reported that the Chinese language minister additionally assured Bangladesh of continued Chinese language help for a sturdy resolution to the Rohingya disaster by way of repatriation. The international minister expressed satisfaction with the elevated party-level engagements between the Bangladesh Awami League and the Communist Social gathering of China.
Whereas thanking the Chinese language authorities for permitting DFQF market entry for 98% of Bangladeshi merchandise into the Chinese language market, Hasan requested China to proceed the DFQF entry past 2026, when Bangladesh will graduate from the LDC standing. He additionally emphasised extra exports from Bangladesh, particularly prescribed drugs, ceramics, leather-based, and agricultural merchandise, to China to scale back the commerce imbalance.
Mentioning the final assembly between Prime Minister Sheikh Hasina and Chinese language President Xi Jinping on the sidelines of the BRICS summit in Johannesburg in August 2023, Hasan requested Chinese language help for Bangladesh to grow to be a companion nation of BRICS.
Bangladesh’s curiosity in becoming a member of BRICS aligns with its strategic goals of diversifying financial partnerships, enhancing its position in regional and world commerce, and securing a steady and sustainable progress trajectory. With strong financial progress, rising industrialization, and a strategic geographic location, Bangladesh stands as a promising candidate for BRICS membership.
Over the previous decade, Bangladesh has achieved exceptional financial progress, sustaining a median GDP progress fee of round 6-7%. The nation has emerged as a key participant within the world textile business, being the second-largest attire exporter after China. The federal government’s Imaginative and prescient 2041 goals to remodel Bangladesh right into a high-income nation by leveraging industrial progress, technological innovation, and human capital improvement.
Becoming a member of BRICS may open new avenues for funding in Bangladesh. The BRICS nations, with their vital financial assets, may present substantial monetary and technical help. Enhanced entry to the New Growth Financial institution (NDB) would facilitate infrastructure improvement initiatives, essential for sustaining Bangladesh’s progress momentum.
BRICS membership would allow Bangladesh to diversify its commerce partnerships past its conventional markets within the West. Elevated commerce with BRICS nations may scale back dependency on any single financial bloc, mitigating dangers related to world market fluctuations.
Bangladesh may gain advantage from technological transfers and industrial collaborations with BRICS nations, significantly in areas similar to data know-how, renewable vitality, and manufacturing. Such partnerships may improve Bangladesh’s industrial capabilities and foster innovation.
As a member of BRICS, Bangladesh would achieve a stronger voice in worldwide boards, contributing to shaping world financial insurance policies. This enhanced geopolitical affect would help Bangladesh’s aspirations to play a extra distinguished position in regional and world affairs.
Earlier in April 2024, Brazilian Overseas Minister Mauro Vieira visited Bangladesh and expressed his nation’s constructive consideration of Bangladesh’s curiosity in becoming a member of BRICS. “Bangladesh is a rustic we carefully monitor, with shared rules and positions. We are going to strongly and positively take into account its inclusion in BRICS from our aspect,” Vieira remarked throughout a joint media briefing with Bangladesh’s Overseas Minister, Hasan Mahmud.
Overseas Minister Mahmud reiterated Bangladesh’s curiosity in becoming a member of BRICS, emphasizing the nation’s strategic goals and financial potential. This help from Brazil, a key BRICS member, underscores the potential for Bangladesh to achieve entry into this influential group of rising economies.
The latest engagements between Bangladesh and China, together with Bangladesh’s aspirations to hitch BRICS, mirror the nation’s proactive method to enhancing its world financial partnerships and securing a sustainable progress trajectory. China’s continued help and cooperation will play an important position in Bangladesh’s improvement journey.
As Bangladesh strikes ahead with its Imaginative and prescient 2041, the collaboration with China and potential BRICS membership may present vital impetus for reaching its financial targets. The deal with infrastructure improvement, technological innovation, and diversified commerce partnerships shall be essential in remodeling Bangladesh right into a high-income nation and a key participant within the world financial system.
China’s help for Bangladesh’s bid to hitch BRICS is not only a diplomatic gesture however a strategic alignment of pursuits. The collaborative initiatives already in place between the 2 nations function a testomony to what will be achieved by way of mutual cooperation. The Padma Bridge Rail Hyperlink, Karnaphuli Tunnel, and Elevated Expressway are just some examples of the infrastructural marvels that haven’t solely enhanced connectivity inside Bangladesh but in addition positioned it as a important participant within the regional financial panorama. (IPA Service)
By association with the Arabian Put up
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