MoU on building BCIM corridor soon

Bangladesh prepares to develop the necessary infrastructure in its part of the proposed 3000-kilometre economic corridor connecting Bangladesh, China India and Myanmar (BCIM) with China's assistance, as the proposal is already approved.
Officials said the Ministry of Communications (MoC) has already endorsed a proposal from a Chinese government-owned company to start the feasibility study on the Bangladesh part of the sub-regional bloc that would open up the eastern horizons.
They said in the study the company will ascertain the Chinese investment opportunities in necessary infrastructure construction in the Bangladesh part to establish the passageway for economic activities and mobility on a larger canvas.
The China Communications Construction Company Limited (CCCC), in its proposal submitted to the MoC last April, recommends government-to-government arrangement to establish the country part of the BCIM link.
Sources said the government is now taking preparation to sign a memorandum of understanding with the CCCC soon, evidently as the prime minister's recent Beijing trip set the ball rolling at a higher pace.
"It would be non-binding MoU under which the company will conduct the study on the Bangladesh part of the BCIM economic corridor within a year," said one official, preferring not to be named.
He said the government considers the Chinese proposal on G2G financial basis as the company has specialization in investment, design, and construction of ports, waterways, highways, bridges, tunnels, railways, airports and the like.
The CCCC has signed similar MoU with Bangladesh Railway and the Shipping Ministry to upgrade the rail and waterway connectivity within the country also to facilitate the BCIM economic corridor. It also entered into a MoU with the Myanmar government under which the company is now engaged in conducting feasibility study, design, drawing of approximately 900-km China-Myanmar part of the corridor.
The BCIM plan originated from an initiative of private sector through establishing a forum in Kunming of China in 1999, but it has been turned into an economic corridor after it was endorsed by the governments of all the four member-countries last year.
In April last year, the BCIM forum with the help of the governments also held a car rally from Kolkata to Kunming to find the potential of road connectivity within the corridor.
BCIM is home of two-fifths of the world population and produces one-tenth of the global GDP. The lineup holds out opportunities like trade and industry, connectivity, energy, water sharing, tourism, environment and so.