DHAKA — Bangladesh and China have strengthened their economic and strategic relationship, with bilateral ties evolving into a Comprehensive Strategic Cooperative Partnership (CSCP), Commerce Minister Khandakar Abdul Muktadir said on Wednesday.
Speaking at a policy dialogue during the 11th Belt and Road Initiative (BRI) Summit in Hong Kong, Muktadir attributed the closer relationship to growing two-way trade and expanding strategic cooperation between the two countries.
He said Bangladesh and China have recently signed 17 important agreements, covering a range of projects and areas of cooperation. These include the modernisation of Mongla Port and the establishment of a Chinese economic and industrial zone in Chattogram.
The minister also said Invest Bangladesh has taken an initiative to establish Bangladesh’s first overseas investment office in China, aimed at deepening investment and business ties.
Muktadir described Hong Kong as an important commercial gateway for Bangladesh and said Dhaka should make greater use of its position as a bridge between mainland China and global markets.
Addressing the session titled “Building Resilient Trade and Investment Frameworks in a Diverse Global Landscape,” he said future economic growth would depend on cooperation, sustainable development and an open trading system rather than isolation.
For Bangladesh, economic resilience should mean more than simply responding to crises, he said. It should involve building an adaptable economy capable of responding to global changes while creating jobs and new opportunities.
Diversifying exports
The minister said Bangladesh is preparing for graduation from the least developed country (LDC) category by focusing on productivity, innovation and competitiveness.
Four areas have been identified as priorities: export diversification, connectivity infrastructure, productive investment and a green economic transition.
While the ready-made garment sector remains central to Bangladesh’s exports, the country is seeking to expand its participation in global value chains through pharmaceuticals, leather and leather goods, agro-processing, light engineering, information technology and man-made fibre industries.
Bangladesh is particularly interested in investments that can facilitate technology transfer, develop workforce skills and connect domestic industries with international supply chains, Muktadir said.
Opportunities under BRI
The commerce minister highlighted opportunities for greater Bangladesh-China cooperation in economic zones, logistics and renewable energy under the BRI framework.
He also called for expanded digital trade, cross-border e-commerce and digital payment systems to help small and medium-sized enterprises, women entrepreneurs and local businesses gain greater access to international markets.
Muktadir stressed that future trade and investment frameworks must also take climate change into account, with low-carbon production, sustainable logistics and green infrastructure becoming increasingly important to economic development.
He said stronger international and regional connectivity, combined with sustainable and inclusive economic policies, would be crucial for Bangladesh to remain competitive amid geopolitical instability, supply-chain disruptions and climate-related challenges.
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