Bangladesh and China have agreed to enhance cooperation in financial regulation, and encouraged increased use of local currency settlement in bilateral trade, according to a joint statement issued after Prime Minister Sheikh Hasina’s three-day official visit to Beijing.
Hasina returned home early hours of Thursday after talks with Chinese President Xi Jinping and Prime Minister Li Qiang.
The Bangladesh side welcomes Chinese banks to establish branches in Bangladesh, and vice versa.
Bangladesh and China agreed to strengthen coordination in international and multilateral affairs, and expressed readiness to further coordinate positions and build broader consensus in multilateral processes concerning international peace and security, sustainable development, human rights, humanitarian affairs, climate change, energy transition and environmental protection, to jointly safeguard the common interest of developing countries.
GDI, GSI, GCI
The two sides discussed various aspects of the Global Development Initiative (GDI) put forward by President Xi Jinping.
The Chinese side is ready to share experience on GDI issues with the Bangladesh side.
The Chinese side also presented the Global Security Initiative (GSI) and the Global Civilization Initiative (GCI) to the Bangladesh side to ensure peace, development and shared prosperity for all.
PM Hasina paid an official visit to China from July 8 to 10 at the invitation of Premier Li.
During the visit, Hasina had a meeting with Xi and met with Wang Huning, chairman of the National Committee of the Chinese People’s Political Consultative Conference.
In a cordial and friendly atmosphere, the two sides had in-depth exchange of views on bilateral relations and international and regional issues of mutual interest, and reached extensive consensus.
The Bangladesh side congratulated the Chinese side on the 75th anniversary of the founding of the People’s Republic of China, and applauded China’s historic achievements and transformation in economic and social development in the new era.
Bangladesh lauded China’s efforts to build itself into a great modern socialist country in all respects and advance the great rejuvenation of the Chinese nation on all fronts through the Chinese path to modernisation, and expressed sincere wish for China to realise the Chinese dream of national rejuvenation as scheduled.
The Chinese side applauded the achievements of Bangladesh in economic and social development, and expressed continued support for Bangladesh’s graduation from the UN Least Developed Countries (LDC) status in 2026 as scheduled and Bangladesh’s steady progress toward realising its Vision 2041 of a “Smart Bangladesh.”
The two sides applauded their strategic partnership of cooperation established in 2016, and agreed that the China-Bangladesh relationship has reached a new height.
Leaders of the two countries agreed to stay committed to the Five Principles of Peaceful Coexistence, carry forward the long-standing friendship, foster greater synergy between development strategies of the two countries, advance the Belt and Road cooperation, and elevate the bilateral relationship to a comprehensive strategic cooperative partnership.
The two sides decided to take the opportunity of celebrating the 50th anniversary of the establishment of China-Bangladesh diplomatic relations in 2025 to plan together for the future development of bilateral ties and take the China-Bangladesh relationship to another new height.
The two sides agreed that China and Bangladesh have been good neighbours and good friends since ancient times, sharing a millennium-old history of friendly exchanges.
Over the past 49 years since the establishment of diplomatic relations, the traditional China-Bangladesh friendship forged by generations of leaders of both countries has grown from strength to strength.
The two countries have always respected each other, treated each other as equals, and pursued mutual benefits.
With ever deepening mutual trust, the two countries have achieved fruitful outcomes in their practical cooperation, and kept close collaboration in international and regional affairs, thus setting a fine example of friendship and mutually beneficial cooperation in relations between countries.
The two sides reaffirmed their commitment to mutual respect for each other’s sovereignty, independence and territorial integrity, and to mutual understanding and support on issues involving each other’s core interests and major concerns.
The Chinese side firmly supports Bangladesh in maintaining peace and stability, realising development goals as envisioned under Vision 2041, non-interference in its internal affairs, and independently choosing a development path suited to its national conditions.
The two sides stressed that the authority of the U.N. General Assembly Resolution 2758 is beyond question and brooks no challenge.
Bangladesh reiterated its firm commitment to the one-China principle and its position that the government of the People’s Republic of China represents the whole of China, and Taiwan is part of China, and Bangladesh supports China on issues pertaining to China’s core interests and China’s efforts to safeguard its national sovereignty and territorial integrity.
Zero-tariff treatment to Bangladesh beyond 2026
China has expressed its support to continue the zero-tariff treatment on 98 per cent of taxable items to Bangladesh for a transitional period beyond 2026 when Bangladesh will graduate from LDC status.
The Bangladesh side expressed its appreciation to China for granting zero-tariff treatment on 98 per cent of taxable items to Bangladesh, effective from 1 September 2022.
The two sides agreed to deepen cooperation in trade, investment and finance, conclude the joint feasibility study on a Bangladesh-China free trade agreement, and launch formal negotiations as soon as possible.
China has completed the entry procedures for Bangladesh’s fresh mango exports to China and welcomed Bangladesh to expand exports of jute, leather, aquatic products, and other high-quality special products to China.
The two sides agreed to further strengthen communication on the export of high-quality Bangladeshi agricultural products to China.
The two sides discussed future cooperation on trade facilitation, aid, and financing for projects or programmes.
The two sides agreed to launch negotiations on upgrading the China-Bangladesh Investment Agreement as soon as possible.
The Bangladesh side welcomed more investment from Chinese enterprises in Bangladesh in such areas as economic and industrial parks, oil and gas exploration, new energy, water resources and sewage management, garment and other manufacturing sectors, reiterates Bangladesh’s commitments to protecting the security and legitimate rights and interests of all foreign investments including the Chinese projects and personnel in Bangladesh.
The two sides agreed to deepen cooperation in infrastructure and construction projects, including through the PPP model.
The Chinese side expressed its readiness to support and participate in building “Smart Bangladesh,” promote cooperation between digital and ICT think tanks of the two countries, and explore the joint establishment of a digital innovation lab to carry out digital capacity building.
The two sides agreed to strengthen investment cooperation in the field of digital economy.
The Chinese side will support bilateral exchanges on digital economy industries, encourage Chinese software companies to empower Bangladesh’s digital infrastructure development, and explore the establishment of a China-Bangladesh innovation cooperation mechanism in cloud computing, to promote the development of Bangladesh’s digital and ICT industries.
The Chinese side expressed its readiness to carry out cooperation on the “international port for the information industry and digital trade” to promote the digitization of bilateral trade.
The Bangladesh side applauded and expressed thanks for these initiatives.
The two sides agreed to step up maritime and blue economy cooperation in areas of marine observation, disaster prevention and mitigation, the Ocean to Climate Seamless Forecasting System (OSF) and the Marine Hazards Early Warning and Mitigation System, with a view to enhancing marine sustainability and resilience of Bangladesh.
China will assist Bangladesh to cultivate more talents in marine affairs.
The two sides agreed to hold the second round of maritime cooperation dialogue at an early date.
On defence cooperation, the two sides agreed to strengthen more exchanges at all levels and between various armed forces and departments and deepen practical cooperation in defence.
Both sides agreed to maintain their mutual understanding and engagement on UN peacekeeping and peace building issues.
The two sides share the view that the promotion and protection of human rights is a common cause of all humanity, and the rights to subsistence and development are basic human rights of paramount importance.
The two sides support exchanges and cooperation on human rights among all countries on the basis of equality and mutual respect, advocate the common values of humanity, oppose politicization of human rights, and remain committed to jointly promoting sound progress in all aspects of the international human rights agenda.
Southern Integrated Development Initiative
China has supported the Bangladesh’s plan to implement the Southern Integrated Development Initiatives (SIDI) under the framework of the Belt and Road Initiative to help this region achieve balanced and sustainable development.
Chinese enterprises will be encouraged to take an active part in the construction of subways, metro rail and roads, oil and gas exploration, hospitals and water resources and sewage management projects in Bangladesh in a proper way.
Bangladesh and China will accelerate existing cooperation projects, continue to expand areas of cooperation, and work toward more fruitful outcomes in practical cooperation between the two countries.
The two sides agreed to advance projects such as the Burn Unit in Chattogram Medical College Hospital, the No. 6 Bangladesh-China Friendship Bridge Renovation, the No. 9 Bangladesh-China Friendship Bridge and the National Emergency Operation Center in Bangladesh.
The Chinese side expressed readiness to continue providing assistance to Bangladesh to the best of its capacity and positively consider the possibility of building hospitals and bridges and renovating convention centers to support the economic and social development of Bangladesh.
The Chinese side will continue to provide support for training programmes on human resources development of Bangladesh under the framework of “China Aid.”.
The Bangladesh side expressed appreciation for China’s support for Bangladesh’s economic and social development, and applauded the important role played by the Belt and Road Initiative (BRI) in promoting the socio-economic development of the people of Bangladesh.
The Chinese side commended Bangladesh for being the first country in South Asia to join and take part in the BRI.
The two sides agreed to step up experience sharing on development planning and economic development policies, and further deepen high-quality Belt and Road cooperation under the principle of planning together, building together and benefiting together.
The two sides recognised the completion of the Bangabandhu Sheikh Mujibur Rahman Tunnel under Karnaphuli river, the Modernisation of Telecommunication Network Project, Development of ICT Infra-Network for Bangladesh Government Phase-III (Info-Sarker 3) and the Single Point Mooring (SPM) with Double Pipeline Project, and expressed satisfaction with the progress in major bilateral cooperation projects, such as the Padma Bridge Rail Link Project, the Project of Expansion and Strengthening of Power System Network under DPDC Area, the Power Grid Network Strengthening Project under PGCB, the Dhaka-Ashulia Elevated Expressway and the Rajshahi Surface Water Treatment Plant Project.
The two sides agreed to push forward projects such as Expansion of Teletalk’s 4G Mobile Broadband Network up to Union Level, Procurement of New Vessels, Water Supply, Sanitation, Drainage, Solid Waste and Faecal Sludge Management for Small Size Pourashavas (Municipalities) in Bangladesh, and Sewage Collection System under Dasherkandi STP Catchment of Dhaka City.
