Bangladesh plans deal for Chinese cooperation in its industries

BDApparelNews Desk
31 May 2019  

Chinese Ambassador Zhang Zuo (left) and Industries Minister Nurul Majid Mahmud during the meeting on May 30, 2019. Photo Courtesy: PID

Chinese Ambassador Zhang Zuo (left) and Industries Minister Nurul Majid Mahmud during the meeting on May 30, 2019. Photo Courtesy: PID

Dhaka is planning to sign an agreement with Beijing to boost the number of sectors where China and its businesses can cooperate and invest in Bangladesh’s industries.

Industries Minister Nurul Majid Mahmud conveyed the interest to Chinese Ambassador Zhang Zuo at a meeting held at the minister’s office on May 30, 2019. He said, Bangladesh has prepared the outline of an MoU based on China’s interest for cooperation.

READ MORE: Chinese manufacturers optimistic on investing in Bangladesh

The finalised outline will be forwarded to Chinese authorities through the Ministry of Foreign Affairs. Later, after the final go ahead from both sides, the MoU will be signed.

According to what Minister Mahmud said, this agreement will open doors to a new dimension of bilateral investment and trade. He added, for Chinese investment in Bangladesh, quality and competitive investments will be prioritised by the local authorities.

Chinese Ambassador Zuo conveyed that China stands ready to partner with Bangladesh to reap the benefits of “fourth industrial revolution” and “knowledge-based industrialisation”. He said China wants to assist Bangladesh in digitalisation, ICT, and artificial intelligence.

He expressed hope that Bangladesh will assist in implementation of China’s ‘Belt and Road Project’ initiative and said Chinese investors are willing to invest in the promising industrial sector of Bangladesh. “Last year, over a hundred Chinese investors visited Bangladesh and discussed marketing of Chinese goods.”

Ambassador Zuo also highlighted the importance of continuing a relation of mutual assistance between the two countries to boost bilateral trade and investment.

Among others present during the meeting were Industries Ministry’s Joint Secretary Yasmin Sultana, Chinese Embassy’s Political Division Director Zheng Tianzhuo, and other high-ups from the ministry and embassy of China.