BRI still untapped for BD: Speakers

Although the Belt-and-Road Initiative (BRI) emerges as a transformative opportunity and holds with tremendous potential for Bangladesh, its potential growth remain still untapped significantly in the last 10 years.
Speakers made the observations at the launch of a report styled 'BRI in Bangladesh: Achievement and Way Forward' at a city hotel on Thursday night.
The Chinese Embassy hosted the event on the 10th anniversary of BRI, which was unveiled by President Xi Jinping in 2013 stating that it rolled out investment of hundreds of billions of dollars in critical infrastructure across countries, including Bangladesh.
Education minister Dr Dipu Moni attended the event as the chief guest while Chinese ambassador Yao Wan was a keynote speaker.
Speakers said infrastructural development and enhanced trade connectivity under BRI have taken place against the backdrop of Bangladesh's remarkable progress in socio-economic development over past decades.
But they pointed out that the country's exports to China remain less than $1.0 billion, leaving ample room for further expansion.
The speakers, therefore, called for exploring trade and investment opportunities and technology transfer to reap the benefits of BRI along with investment in infrastructure development.
ERD additional secretary and China wing chief Mohammad Anwar Hossain, ERF president Rafayet Ullah Mirdha, Bangladesh-China Chamber of Commerce and Industry secretary general Al Mamun Mirdha, and Liu Zongi of Shanghai Institutes of International Studies were panellists there.
BGMEA president Faruque Hassan also spoke, among others.
RAPID chairman Dr Mohammad Abdur Razzaque presented the report that showed Bangladesh's trade with China rose to 18 per cent in 2022 from only 7.0 per cent in 2021.
The report showed China's pledge to Bangladesh was $40 billion since the launch of BRI in 2013, but only $4.45 billion was disbursed by April 2023.
Twenty-five projects were undertaken, but 10 have so far been implemented successfully, it cited.
As BRI focuses on areas like infrastructure, energy and socio-cultural exchange, projects like Padma Bridge, Padma Bridge Rail Link, Karnaphuli Tunnel, Dhaka Elevated Expressway, Dhaka-Ashulia Elevated Expressway, Dhaka Bypass, ICT Intra-Network, Dasherkandi Sewerage Treatment Plant, and Power System Network were implemented with Chinese funds.
Dr Dipu recalled Chinese contribution to the country's development as a steadfast ally, saying the BRI has opened a new door in taking the relationship into a new height.
Terming it a "visionary global endeavour", she also said the relationship built on trust and cooperation and mutual benefit serves as an example in international partnership under BRI.
Meanwhile, envoy Wan said Chinese investment in Bangladesh increased from $241 million in 2016 to $1.346 billion in 2022 after it joined the BRI as the first south Asian country.
He disclosed that China built 12 roads, 21 bridges, and 27 power and energy projects in Bangladesh while Chinese companies created more than 550,000 jobs here.
There were more than 670 Chinese companies operating in Bangladesh the ambassador said adding that two-way trade was $22.8 billion in 2022, up from $15.3 billion.
On the occasion, Mr Wan awarded licences to 16 Chinese companies whose South Asian headquarters are in Bangladesh.

smunima@yahoo.com