MM Rahmatullah: After four years, the meeting between Chinese President Xi Jinping and Prime Minister Sheikh Hasina in Johannesburg has elevated the political relations between the two countries to a higher level, said Chinese Ambassador to Dhaka Yao Wen. He said that this bilateral strong political relationship will serve as a guide for bilateral development in the future.
He said these things at the ‘China-Bangladesh Business Excellence Award 2023’ event organized at Radisson Blu Hotel in the capital on Thursday evening.
Bangladesh-China Chamber of Commerce and Industry (BCCCI) and Chinese Enterprises Association of Bangladesh (CEAB) jointly organized the event.
Bangladesh Investment Development Authority (BIDA) Executive Chairman Lokman Hossain Mia was present as the chief guest in the event. Chinese Ambassador to Dhaka Yao Wen spoke as guest of honour.
He said that the two countries are successfully implementing mega projects together. China’s aid projects are playing a major role in the economic development of Bangladesh. China is Bangladesh’s most reliable friend and trusted development partner. Chinese companies are also playing a role in the development of this country in coordination with the local businessmen of Bangladesh.
The Chinese ambassador said that China has been Bangladesh’s biggest trading partner for the past 13 years. Bangladesh’s trade deficit with China has decreased by 16% in the last three quarters. This indicates a narrowing of the trade deficit. China is one of the sources of FDI in Bangladesh. Currently China’s FDI stock in Bangladesh is 3.17 billion dollars.
In the speech of the chief guest, Bidara Executive Chairman Lokman Hossain Mia said that more than 600 Chinese companies have invested in Bangladesh. BIDA will provide maximum support to Chinese investment proposals in the future.
BCCCI’s Al Mamun Mridha said that Bangladesh-China bilateral relations are playing a strong role in strengthening bilateral trade and investment. In terms of economic cooperation, Bangladesh-China trade volume has increased to a high level based on mutual trust and confidence. According to data from Chinese Customs, the volume of bilateral trade increased to 28 billion dollars in the fiscal year 2022-23.
He said that BCCCI is working tirelessly to increase bilateral trade and investment between Bangladesh and China. Registered with the Ministry of Commerce, it is the largest bilateral chamber of commerce in Bangladesh. More than 700 enterprises are members of this chamber, including more than 500 Chinese enterprises. BCCCI and its members are working hard to attract more Chinese investment and increase trade. For the last few years, BCCCI has been working as an official partner of various institutions including China Council for the Promotion of International Trade (CCPIT), BIDA, Bangladesh Export Processing Zone Authority and Bangladesh Economic Zone Authority.
He said that the developing economic relations between Bangladesh and China have created a strong foundation of mutual interest and prosperity. The strategic partnership between the two countries has been further strengthened through the meeting between Chinese President Xi Jinping and Prime Minister Sheikh Hasina at the BRICS summit held in Johannesburg.
In the event, it was informed that significant contribution in power and energy sector, road and bridge, railway and civil aviation, marine and harbor, ICT, textile and garment sector, trade and service sector, women entrepreneurship, SME, corporate social responsibility and bilateral trade-categories total this year. 27 awards have been given. Among them 15 Bangladeshi companies and 12 Chinese companies. Mrida Business Limited Managing Director and BCCCI General Secretary Al Mamun Mrida and Chinese company New Era Fashions MFRS (BD) Ltd Managing Director Zhang Wenseng received awards for their outstanding contribution to bilateral business expansion at the event.
Chinese company China Petroleum Pipeline Engineering Company Limited and Jamuna Matter Industries Limited of Bangladesh in power and energy sector, Chinese company China Road and Bridge Corporation (CRBC) and Mir Akhtar Hossain Limited of Bangladesh in road and bridge sector, Chinese company China Railway Group Limited in railway and civil aviation sector and Max Infrastructure Limited of Bangladesh received the award.
Chinese company Power Construction Corporation of China and Bangladesh Aridad Tech Serv Limited for water and environment development, Chinese company Sunny Heavy Industry Bangladesh Limited and Bangladeshi company Saif Powertech Limited for marine and harbor sector development and Chinese company Huawei Technologies Bangladesh Limited and Bangladeshi company Daffodil Computers for ICT sector. Ltd. received the award.
Besides, Chinese company LDC Group and Bangladeshi company Shah Fatehullah Textile Mills Limited in the textile and garment sector, Chinese company New Hope Liuhi Bangladesh Region and Bangladeshi companies Hena Enterprises Limited, ACI Limited and Sems Global received the award for the development of bilateral trade and services sector.
