Sheikh Hasina’s landmark go to to China: Strengthening strategic ties and financial cooperation

On July 8, Prime Minister Sheikh Hasina of Bangladesh commenced a four-day bilateral go to to China, marking a big milestone within the relationship between the 2 international locations. Invited by Chinese language Premier Li Qiang, this go to goals to raise the bilateral relations from a “strategic partnership” to a “complete strategic cooperative partnership”, reflecting a deepening of ties and mutual dedication to financial and strategic cooperation.

Throughout her go to, which spans from July 8 to July 11, Prime Minister Sheikh Hasina is scheduled to have interaction in high-level discussions with high Chinese language leaders. On July 10, she’s going to meet with Chinese language President Xi Jinping and take part in a delegation-level bilateral assembly with Premier Li Qiang. These conferences are anticipated to deal with enhancing bilateral cooperation in varied sectors, together with commerce, funding, infrastructure, and know-how.

One of many key highlights of the go to is the anticipated signing of 20 to 22 Memorandums of Understanding (MoUs) between Bangladesh and China. These agreements are geared toward fostering collaboration in a number of areas and signify the dedication of each nations to additional strengthen their partnership.

On July 9, Prime Minister Sheikh Hasina addressed the Chinese language enterprise neighborhood on the “Commerce, Enterprise, and Funding Alternatives between Bangladesh and China” summit in Beijing. The occasion was organized by the Embassy of Bangladesh in Beijing, Bangladesh Funding Growth Authority (BIDA), Bangladesh Securities and Alternate Fee (BSEC), and the China Council for the Promotion of Worldwide Commerce (CCPIT).

In her deal with, Prime Minister Sheikh Hasina urged Chinese language traders to reap the benefits of Bangladesh’s liberal funding regime and discover alternatives in key sectors reminiscent of infrastructure, vitality, logistics, data and communication know-how (ICT), tourism, and agro-processing industries. She highlighted the numerous potential for Chinese language funding within the vitality sector, together with renewable vitality, and invited Chinese language companies to spend money on climate-resilient good farming and agro-processing industries with buy-back preparations.

Sheikh Hasina introduced plans to ascertain three particular tourism zones in Bangladesh, inviting Chinese language investments in actual property and hospitality. She additionally inspired Chinese language traders to contemplate portfolio investments in Bangladesh, noting the efforts of the Bangladesh Securities and Alternate Fee to additional develop its capital markets and make them extra enticing to overseas traders.

Highlighting Bangladesh’s embrace of the digital age, PM Sheikh Hasina identified that her authorities actively promotes the expansion of the ICT sector by providing incentives for startups, investing in tech parks, and fostering an ecosystem that encourages innovation and entrepreneurship. “Our younger entrepreneurs are making their mark on the worldwide stage, and we invite you to be part of this thrilling journey,” she acknowledged.

She additionally talked about the alternatives in renewable vitality, waste administration, and inexperienced applied sciences, emphasizing Bangladesh’s dedication to sustainable growth.

On the summit, 16 MoUs had been exchanged between firms from Bangladesh and China, showcasing the rising enterprise collaborations. Distinguished enterprise leaders from each international locations, together with Chinese language Vice Minister of Commerce Li Fei, Chairman of China Communications Development Group Firm Ltd Wang Tongzhou, President and CEO of HSBC China Mark Wang, and Senior Vice President of Huawei Simon Lin, participated within the occasion.

Prime Minister Sheikh Hasina elaborated on Bangladesh’s strategic location, highlighting its direct connectivity to main worldwide buying and selling and cargo routes. “We’re on the crossroads of the South Asian, Southeast Asian, and East Asian development circuits. Our seaports, airports, and land routes are repeatedly upgraded to fulfill worldwide requirements, making certain environment friendly and seamless logistics,” she stated.

She emphasised Bangladesh’s enormous home market and the adjoining markets’ countless alternatives. “Bangladesh is dedicated to making sure your small business operations are worthwhile,” she assured potential traders, noting the nation’s liberal funding regime and the great companies offered by the Bangladesh Funding Growth Authority (BIDA).

Sheikh Hasina highlighted Bangladesh’s bold infrastructure tasks, together with the institution of 100 Particular Financial Zones (SEZs) outfitted with state-of-the-art services. Moreover, the nation is growing 5 country-specific Financial Zones to foster nearer financial ties with key companion nations.

She additionally talked about important measures taken by her authorities to reinforce the benefit of doing enterprise, together with legislative reforms, simplified procedures, and improved infrastructure. “Our purpose is to place Bangladesh as one of the enticing funding locations on this planet,” she declared.

The premier outlined Bangladesh’s maiden logistics coverage geared toward attaining sustainable financial development by growing home and worldwide commerce and funding capability by way of a world-class, technology-based, time and cost-efficient, and environmentally pleasant logistics system. The coverage emphasizes encouraging personal sector funding in infrastructure growth by way of public-private partnerships.

Sheikh Hasina cited a number of mega-projects as examples of Bangladesh’s infrastructure developments, together with the Padma Multi-purpose Bridge, the Karnaphuli River Tunnel, the Matarbari Deep Sea Port, the expanded Third Terminal at Dhaka Worldwide Airport, the Rooppur Nuclear Energy Plant, and the Dhaka Metro-Rail system. She additionally highlighted nationwide electrical energy and web protection, in addition to the launch of Bangladesh’s first communication satellite tv for pc, Bangabandhu-I.

Prime Minister Sheikh Hasina emphasised Bangladesh’s younger and dynamic workforce, with a median age of round 27 years. She famous the federal government’s efforts to reinforce workforce capabilities by way of vocational coaching and better schooling initiatives. “Our youths are gearing as much as take part within the Fourth Industrial Revolution,” she stated, including that investing in Bangladesh means having access to a big pool of expert and semi-skilled labor.

China is Bangladesh’s largest buying and selling companion, with commerce volumes growing yearly. Sheikh Hasina expressed Bangladesh’s dedication to addressing commerce imbalances and making a extra equitable commerce relationship. She inspired Chinese language investments in Bangladesh’s export-oriented industries to diversify the export basket and cut back commerce deficits.

She additionally urged Chinese language firms to kind joint ventures with Bangladeshi companies to facilitate know-how switch, talent growth, and market entry. “Funding in analysis and growth is essential for fostering innovation and competitiveness,” she stated, inviting Chinese language firms to ascertain R&D facilities in Bangladesh.

Prime Minister Sheikh Hasina additionally emphasised the shared imaginative and prescient for financial development, technological development, and sustainable growth between Bangladesh and China. She expressed confidence that the partnership between the 2 international locations holds immense promise for the long run. “Allow us to work collectively to construct a stronger, extra affluent, and extra related world,” she stated.

The go to underscores the sturdy and enduring friendship between Bangladesh and China, highlighting the numerous contributions China has made to Bangladesh’s infrastructure tasks, technological developments, and total financial development. With each nations dedicated to exploring new areas of collaboration in commerce and funding, the long run seems to be promising for Bangladesh-China relations. This go to marks a brand new chapter within the strategic partnership, setting the stage for a mutually helpful and affluent relationship between the 2 international locations.