Staff Reporter :
Prime Minister Sheikh Hasina’s forthcoming visit to China, scheduled from July 8–11, is poised to be a pivotal moment in Bangladesh’s diplomatic relations.
The Prime Minister, accompanied by a high-level delegation, will embark on this crucial journey shortly after her recent trip to India last month.
The Bangladeshi government is anticipating a substantial loan from China, estimated at approximately $5 billion in yuan, to inject into ongoing projects and bolster the country’s dwindling foreign currency reserves.
The move aligns with Bangladesh’s efforts to diversify its funding sources and strengthen its economic ties with Beijing.
In an interview with Bloomberg on Tuesday, Bangladesh Bank Governor Abdur Rouf Talukder emphasised the nation’s intention to secure this loan to address the declining foreign exchange reserves.
The funds, denominated in the Chinese currency, aim to provide financial support to exporters for essential raw material imports from China, thereby mitigating the significant trade deficit between the two nations.
Though the prime minister has inked some ten MoUs with India to expand connectivity and other cooperation in digital and space areas, Bangladesh is looking to China for financial support and development assistance.
From a strategic point of view, China would try to keep Bangladesh on its side, as China has to implement its Belt and Road Initiative, which Bangladesh joined some six years ago, over this region for its
navigation of products and regional influence.
Meanwhile, Foreign Minister Hasan Mahmud said on Wednesday that Prime Minister Sheikh Hasina’s visit will get priority on development issues in Bangladesh.
While talking to the journalists, he came up with the remarks at the inauguration of the journal, smart library, and website of the Foreign Service Academy in the capital on Wednesday at the end of the event.
The Foreign Minister stated, “Our foreign policy is friendship to all, malice to none. We want to advance our country by maintaining good relations with everyone.”
“Prime Minister Hasina has recently returned from a successful visit to India. During that visit, when she met with Indian Prime Minister Narendra Modi, discussions were held regarding the upcoming China visit,” he continued.
He mentioned, “China is a significant development partner for us. Chinese funds and expertise have contributed to various iconic projects like the Bangabandhu Tunnel and Padma Bridge.
Therefore, the upcoming visit to China is very important. China has played a crucial role in our development endeavours for a long time, and this visit aims to expedite those efforts.”
Regarding whether there will be any new agreements during the China visit, the minister said, “That has not been finalised yet; it’s not the time to say.”
When asked if there are any concerns from India regarding the China visit, Hassan Mahmud replied, “There have been no objections from India.
When we discussed the Rohingya issue, we also talked about China’s role. Prime Minister Hasina had said she would go to China and discuss this matter. That’s how the issue has come up.”
Sources said that the visit would also focus on the Teesta project, as India has already come between Bangladesh and China over the project because China initially expressed its desire to take over the project. But the Indian move to finance the project the project here has brought up another dimension.
As a result, the Teesta project will be much discussed during Sheikh Hasina’s visit, the sources said.
Apart from that, the Free Trade Agreement (FTA) between Bangladesh and China would also be discussed comprehensively to ensure free access of Bangladeshi products to China and vice versa as an initiative to reduce the trade gap.
Beyond economic considerations, the visit holds strategic implications for both nations. China, under its Belt and Road Initiative (BRI), views Bangladesh as a pivotal partner in its regional ambitions.
The BRI aims to enhance connectivity and trade between Asia, Africa, and Europe, with Bangladesh’s geographical location offering a crucial gateway for maritime and land-based routes.
By solidifying its ties with Bangladesh, China aims to consolidate its influence in the Indian Ocean region, strategically positioning itself amidst geopolitical shifts and global trade dynamics.
On the other hand, the relationship with China represents not only an economic opportunity but also a strategic balancing act in its foreign policy for Bangladesh.
Since joining the BRI six years ago, Bangladesh has witnessed substantial investments from China in key sectors, ranging from infrastructure to technology and manufacturing.
These investments have contributed significantly to Bangladesh’s infrastructure development and economic diversification, aligning with the government’s vision of transforming Bangladesh into a middle-income country by 2030.
Officials from the Ministry of Foreign Affairs disclosed that the Prime Minister will depart from Dhaka for Beijing on the morning of July 8.
She will participate in a business forum on July 9 and hold an official meeting with Chinese Premier Li Keqiang. The meeting will focus on economic assistance and financing for new projects.
Later, the Prime Minister will hold discussions with Chinese President Xi Jinping. During her Beijing visit, several agreements between the two countries are expected to be signed.
Additionally, Sheikh Hasina will unveil the Chinese translation of her book ‘The Daughter of Bangabandhu’ during the visit.
As Prime Minister Sheikh Hasina embarks on her diplomatic mission to China, all eyes remain on the outcomes that will determine Bangladesh’s place in the evolving global order and its path towards sustainable development and prosperity.