China to build strong relations with Bangladesh as a key policy matter

FE Team | Published: June 23, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

BEIJING, June 22 (UNB): The Chinese government is committed to building strong ties with Bangladesh, which is a key part of its policy of fostering friendship and partnership with the neighbours, said Vice Foreign Minister Wu Dawei.
"Our relations are moving towards maturity," he said during an interview with the news agency at his ministry, elaborating on the line of interaction to be followed as of now.
Over three decades, Dawei said, Bangladesh and China have carried out fruitful cooperation in political, economic, military and cultural fields.
To build on this durable bedrock of the China-Bangladesh relations, the Chinese leader made a four-point suggestion. The suggestions are: framing a mechanism of mutual visits to key sectors like energy and agriculture to maintain regular dialogue, deepening cooperation in economy and trade, expanding educational and cultural exchanges, and promoting bilateral cooperation on regional and international issues.
Based on his experience as a custodian of the present world's fastest-growing economic powerhouse, the minister said economic cooperation is an important basis for fostering the China-Bangladesh friendship as Dhaka is Beijing's third-largest trade partner in South Asia.
He said bilateral trade and economic cooperation had grown rapidly, with the trade volume having approached US $ 3.2-billion mark in 2006.
"But more potential remains to be tapped," Dawei said, adding China has offered zero-tariff treatment to 84 categories of Bangladeshi export products and expressed the hope Bangladesh would take full advantage of this trade preference.
He said China encourages mutual investment as it encourages competitive and reputed Chinese companies to invest in Bangladesh to promote mutually beneficial cooperation.
Asked how Bangladesh's trade deficit with China could be reduced, he viewed that trade imbalance between China and Bangladesh was mainly caused by different economic structures of the two countries, which could not be addressed only by means of trade.
"We also need to explore other solutions such as investment. I hope that Bangladesh will further improve its investment environment to attract more Chinese investment."
Looking over the entire spectrum of the China-Bangladesh cooperation, Dawei observed education, tourism, human-resource training and other fields hold promising prospects. China will continue to boost people-to-people exchanges with Bangladesh, he said.
The Vice Foreign Minister said as Bangladesh pursues a "Look East" policy, China is ready to work with Bangladesh to push forward regional cooperation.
China also supports a more active role of Bangladesh in SAARC, the Economic Cooperation Forum grouping Bangladesh, China, India and Myanmar and the ASEAN Regional Forum, he said.
China and Bangladesh have maintained good dialogue and cooperation at international forums, and Beijing likes to see such interaction further strengthen.
Asked in what sectors of Bangladesh's economy China would be interested to increase investment, he said China encourages foreign investment in China, and it also encourages Chinese companies to do business overseas. The Chinese companies will make their business decision in the light of market conditions in host countries.
In reply to a question, Dawei said China and the ASEAN countries are working to link the trans-Asian railway from Kunming and Singapore to promote flow of personnel and goods. If the road project linking Bangladesh and Myanmar is completed, it will open another sea outlet for the southwest China and stimulate the economic development of regions along the road.
Asked in what way China as an observer of SAARC could help make it an effective forum, the minister said China is ready to conduct exchanges and expand cooperation with SAARC in the spirit of promoting equality, mutual trust and win-win progress. And his country would contribute its share to advancing the cooperation process of the Association and peace and development in South Asia, he added.