Bangladesh is seeking to deepen economic ties with China as part of a broader strategy to accelerate industrialisation, modernise infrastructure and reduce vulnerability to global economic shocks, Finance Adviser Dr Rashed Al Mahmud Titumir said on Sunday, outlining what he described as a pragmatic, interest-driven approach to foreign policy under the country's new government.
Speaking at a seminar titled "Bangladesh-China Relations: Enhanced Trust and New Direction", Titumir said the relationship with Beijing would be guided by Bangladesh's national priorities rather than geopolitical alignments, as Dhaka pursues an ambitious target of becoming a US$1.0 trillion economy by 2034.
"China occupies a place of special importance," he said. "Our foreign policy is primarily driven by our social, economic and political factors. Our task now is to translate our shared vision into tangible outcomes that benefit the peoples of both countries."
His remarks reflect Bangladesh's efforts to position itself amid intensifying strategic competition between China, the United States and India, while maintaining a foreign policy centred on economic development. The government has repeatedly described its approach as "Bangladesh First", emphasising national interest over bloc politics.
Titumir said Bangladesh's newly approved five-year strategic framework for reform and development closely complements China's forthcoming 15th Five-Year Plan, creating opportunities for cooperation in industrial development, infrastructure and investment.
Rather than pursuing growth through consumption-led investment, Bangladesh is prioritising production-oriented foreign investment, he said, arguing that Chinese expertise in manufacturing and industrial upgrading makes Beijing a natural partner for the country's economic transformation.
"We are looking for investment for industrialisation," he said. "China has followed that particular form of economic modernisation."
He said the government had inherited an economy and public institutions weakened by years of mismanagement and was pursuing a phased strategy of recovery, restoration and reconstruction before accelerating growth.
The finance adviser also linked the government's economic philosophy to the Bangladesh Nationalist Party's historical development policies, crediting former Prime Minister Begum Khaleda Zia with overseeing one of the country's fastest periods of poverty reduction and describing the economic vision of late President Ziaur Rahman as rooted in indigenous solutions rather than externally prescribed austerity.
Without naming previous governments directly, Titumir said Bangladesh's development strategy would reflect its own historical experience rather than copy any foreign economic model.
Infrastructure emerged as a central theme of his address. Bangladesh is seeking Chinese participation in rail modernisation, expressways, port expansion and multimodal logistics networks, including implementation of the framework agreement on Mongla Port modernisation signed during Prime Minister Tarique Rahman's recent visit to China.
He also welcomed President Xi Jinping's proposal for a transport corridor linking Kunming and Chattogram and reiterated Bangladesh's interest in discussions on the China-Bangladesh-Myanmar Economic Corridor, saying improved regional connectivity would stimulate trade, investment and tourism.
The government is encouraging Chinese companies to relocate manufacturing operations to Bangladesh and integrate the country into regional and global value chains, while also attracting investment from a broader range of international partners.
"We do not believe in exclusive relationships; we believe in inclusive relationships," Titumir said.
Trade remains heavily skewed towards China, however. Bilateral trade has reached nearly US$24bn annually, while Bangladesh's exports remain below US$1bn.
Titumir said narrowing that imbalance had become a priority and urged greater utilisation of China's duty-free and quota-free market access. Bangladesh hopes to expand exports of garments, jute products, leather goods, pharmaceuticals, agricultural products and processed foods.
He welcomed recent Chinese approval for import of Bangladeshi guava and jackfruit and called for similar access for additional products.
The finance adviser also identified water management as another priority area for bilateral cooperation, highlighting Bangladesh's interest in Chinese expertise on flood control, river management, hydrological forecasting and irrigation.
He described the Teesta River Comprehensive Management and Restoration Project as one of Bangladesh's most important development priorities and expressed hope for continued Chinese technical and financial support.
Beyond economics, Titumir called for closer cooperation in renewable energy, healthcare, digital infrastructure, education and cultural exchanges to broaden public engagement between the two countries.
On regional diplomacy, he thanked China for its role in supporting efforts to resolve the Rohingya refugee crisis and urged Beijing to continue facilitating conditions for the refugees' safe and sustainable return to Myanmar.
He also expressed Bangladesh's support for revitalising the South Asian Association for Regional Cooperation (SAARC), while seeking Chinese backing for Dhaka's aspirations to join groupings including BRICS, the Shanghai Cooperation Organisation and the Regional Comprehensive Economic Partnership.
The speech signals that Bangladesh intends to deepen engagement with China while simultaneously pursuing diversified international partnerships - an approach the government argues will strengthen economic resilience in an increasingly fragmented global economy.
Dr Liu Zongyi, director of the South Asia Studies of the Shanghai Institute for International Studies, said "Not long ago, Bangladesh Prime Minister Tarique Rahman hit a successful visit to China.When President Xi Jinping met with Prime Minister Tarique Rahman, the two sides announced the building of a China Bangladeshi community with a shared future in the new era, opening a new chapter for bilateral relations". He noted that this high-level visit helped bilateral relations achieve stronger political mutual trust, a deeper practical cooperation, and more effective international coordination.
"Our two countries aim to realize organization together. We are driven by shared development. We take shared governance as our responsibility and connected each other through exchanges between civilizations. We work hands in hand for a shared future".
He noted that present Bangladesh-China partnership goes beyond its ordinary bilateral friendship.
Foreign Secretary Asad Al Siam said during his bilateral meeting with Bangladesh PM Tarique Rahman, Chinese President Xi assured that China would stand beside Bangladesh regardless of changes in the international environment which conveys a message of confidence in the bilateral partnership at a time of increasing global uncertainty.
According to the foreign secretary, the visit has set a high benchmark. "The agreements are ambitious. The political understanding has been refreshed. The economic opportunities are substantial. Our task now is to translate these achievements into tangible outcomes for the people. Together with our colleagues, both in public and private sector, we are ready to do so".
Moderated by Professor Sheikh Tawfique M Haque, Director, South Asia Institute of Policy and Governance (SIPG) of the North South University, the seminar was also addressed by Benazir Ahmed, a member of the Board of Trustees of the university.
mirmostafiz@yahoo.com