Concern for investment as China wants smooth polls

Expressing the hope that the next general elections would be held "smoothly and fairly", a Chinese diplomat said his country had significant investments in Bangladesh.
"We've a huge investment here and a lot of Chinese companies and personnel are working in this country. We have concern for them," said Li Guang Zun, economic and commercial counsellor of the Chinese embassy in Dhaka. "We hope that the next general elections will be held smoothly and fairly," he added.
Mr Zun was addressing a press conference held at the embassy on Thursday.
The press conference was organised to brief reporters about the China International Import Expo, which will be held in Shanghai from November 05 to 10 this year.
About the prospect of the free-trade agreement between the two countries, he said that the negotiations were initiated last year and both countries had agreed to conduct a joint feasibility study.
The next meeting of the FTA working group will be held in June this year, he said, adding that after the study if Bangladesh would show interest in such an agreement, China would consider.
Mr Zun also noted that the present volume of bilateral trade amounts to US$ 16 billion with the balance being heavily tilted towards China as Bangladesh's exports to China was only $ 1.0 billion.
To reduce the trade imbalance, Bangladesh should concentrate on product diversification and quality, he argued.
Asked whether the Myanmar situation or the Indo-China border dispute would hinder the projects taken to improve regional connectivity, he said that China also expects smooth completion of the projects.
In this connection, he mentioned the recent signing of the tri-party power agreement involving China, Bangladesh and Myanmar.
About the loan agreement for the rail link project over the the Padma bridge, he said that the agreement would be signed soon. China Exim Bank, the financier of the proposed project, is scrutinising the papers regarding the loan agreement and the deal will be signed after that, he said. Asked about the allegations over delay and corruption in implementing projects by Chinese companies, Mr Zun said that the delay resulted from the procedural complications on both sides.
The rules need to be simplified by both sides, he added.
China has a zero tolerance policy against corruption and if it finds any evidence of corruption against any Chinese company, the country is committed to punishing them, he said. China is going to hold the international import expo in line with the announcement made by President Xi Jinping at the Belt and Road Forum.
The import expo, first of this kind in the world, will showcase the exportable products of other countries who want to export to China. The expo, which will be organised to materialise President Xi's vision for economic globalisation will have country pavilions for participating countries where a country can exhibit their products, project their trade and investment opportunity to the global audience.

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