DHAKA, July 28: Bangladesh’s foreign policy has attracted renewed international attention following Prime Minister Tarique Rahman’s visit to China, which resulted in a significant elevation of bilateral ties, underpinned by major investment commitments and a broad range of strategic cooperation agreements.
According to the Bangladesh Investment Development Authority (BIDA), Chinese companies account for approximately 92% of more than US$400 million in recently approved or implementation-stage foreign investments. The investments are concentrated in advanced textiles, automated manufacturing and construction materials.
Among the largest projects is a US$300 million investment by Hong Kong-based Handa Industries, while China Lesso Group plans to establish a manufacturing facility in Chattogram’s National Special Economic Zone with an investment of US$32 million.
During the prime minister’s visit to Beijing, Bangladesh and China signed 17 memorandums of understanding (MoUs), covering trade, investment, infrastructure, education, cultural cooperation and human resource development. The two countries also elevated their relationship to a “China-Bangladesh Community with a Shared Future,” marking the highest level of bilateral diplomatic engagement between the two nations.
Officials said the two sides discussed cooperation on the Teesta River Comprehensive Management and Restoration Project, the proposed Bangladesh-China-Myanmar Economic Corridor, the expansion of Mongla Port, industrial development in Chattogram and greater collaboration under China’s Belt and Road Initiative (BRI).
China also expressed support for Bangladesh’s efforts to join international platforms including BRICS, the Shanghai Cooperation Organisation (SCO) and the Regional Comprehensive Economic Partnership (RCEP). Beijing has further pledged technical assistance for a feasibility study on the Teesta project.
The government is also considering Chinese proposals to support Bangladesh’s healthcare sector through the development of 20 modern hospitals with a combined capacity of 21,000 beds, along with the supply of 100 ambulances and four helicopters.
Diplomatic analysts, however, cautioned that while stronger ties with China could bring substantial economic benefits, Bangladesh should avoid excessive dependence on any single partner.
Former diplomats noted that China remains one of Bangladesh’s largest and most consistent sources of foreign investment and industrial raw materials, but stressed that the country’s long-term interests require maintaining balanced relations with the United States, India and other strategic partners.
Speaking about Dhaka’s relations with Beijing, BNP Secretary General and Minister for Local Government, Rural Development and Cooperatives Mirza Fakhrul Islam Alamgir recently said Bangladesh feels “more secure” when its ties with China are strong.
“We have always wanted to strengthen our relationship with China in our national interest because we want a major power like China to stand beside us,” he said, according to local media.
His remarks reflect the government’s emphasis on deepening cooperation with Beijing, even as diplomatic analysts continue to stress that Bangladesh should maintain balanced relations with China, the United States and India to safeguard its long-term strategic and economic interests.
The evolving relationship has also drawn Washington’s attention. U.S. Special Envoy for South and Central Asia Sergio Gor is expected to visit Dhaka this week for meetings with senior government leaders, a visit analysts believe will focus on Bangladesh’s changing foreign policy priorities and its growing engagement with China, Russia and Türkiye.
Experts say Bangladesh’s strategic location in the Indo-Pacific makes it an important player in regional geopolitics. They argue that Dhaka’s best course is to pursue an independent and balanced foreign policy that maximises economic opportunities while avoiding alignment with competing geopolitical blocs.
