China to enhance trade, investment no matter who leads Bangladesh, says Ambassador Yao
Chinese Ambassador to Bangladesh Yao Wen on Wednesday said no matter who leads Bangladesh, China will continue to increase trade and investment in the country, supporting its sustainable development and the improvement of people's livelihoods.
Speaking at a seminar in the capital on July 9, he said a sound investment environment requires institutional safeguards and hoped that Bangladesh will work with China towards the same direction to expedite the launch of negotiations on upgrading the Bangladesh-China bilateral investment treaty and Free Trade Agreement (FTI) between the two countries.
He said these efforts will help further bolster the confidence and determination of Chinese enterprises to invest in Bangladesh.
"We sincerely hope that our Bangladeshi friends will take it seriously and act promptly," said Ambassador Yao while speaking at the seminar.
Executive Chairman of Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud Bin Harun, who spoke at the seminar, said they have a tendency of promising things nut not delivering.
"But in the government, we are trying to change that attitude and culture. Hopefully, you will see significant improvement," he said.
The Chinese Enterprises Association in Bangladesh (CEAB) hosted the seminar titled 'China-Bangladesh Industrial and Supply Chain Cooperation' where 'Industry Reports' by the CEAB was released.
Representatives from the concerned agencies and departments of the Bangladesh government and business leaders from both countries were present.
He said China stands ready to work with Bangladesh to follow the strategic guidance of the two leaders' important consensus, take the Golden Jubilee as a new starting point, advance high-quality Belt and Road cooperation, promote the integration of industrial and supply chains as well as investment and trade.
"Together, we can elevate our economic and trade relations to new heights, and further contribute to the China-Bangladesh Comprehensive Strategic Cooperative Partnership," he said.
The conference featured in-depth research reports from specialised branches of CEAB, covering power and energy, roads and bridges, harbor, textile and garments, trade and services, railway and civil aviation, information and communication technology and water and environment.
These reports aim to identify market trends, investment opportunities and challenges, facilitating collaboration between Bangladeshi and Chinese enterprises under the Belt and Road Initiative (BRI).
Ambassador Yao said with the joint efforts of both countries, Chinese enterprises will continue to thrive in Bangladesh and contribute to its economic and social development as well as the improvement of people's livelihoods.
At Bangladesh's current stage of development, he said, improving the business environment is crucial for fostering an open economy and achieving steady and sustainable development.
"Now, Bangladesh is also at a critical juncture of transformation and industrial upgrading. Under the able leadership of Chief Adviser Prof Muhammad Yunus, the economy keeps stabilising and improving, and the business environment is steadily enhancing, making the country emerge as a new investment hotspot in South Asia," Ambassador Yao said.
Since Chinese enterprises constitute the largest group of foreign investors in Bangladesh, he said, it would be invaluable for the Bangladeshi friends to hear from their experiences and suggestions, which originate from their long-term operations here and are reflected in these ten reports.
"They crystallise the collective wisdom of Chinese enterprises in Bangladesh. I believe that they will serve as an important reference for the ongoing economic reforms in Bangladesh," the Ambassador said.
In the first quarter of this year, Chinese investment in Bangladesh surged by 3.7 times. Since last August, nearly 20 Chinese companies have signed investment agreements with Bangladeshi partners, with a total intended investment exceeding US$400 million.
China has become the largest source of foreign direct investment in Bangladesh since the interim government took office.
The Chattogram Chinese Economic and Industrial Zone is about to start construction.
The cooperation documents for the Chinese Agrivoltaics Economic Zone at Baherchar Island have been signed, and the China-Bangladesh Mongla Port Economic Zone is progressing steadily, the Ambassador said.
He said China not only supports the current interim government but also has full confidence in Bangladesh's future elected government.
Beijing working with Dhaka, Islamabad
Describing the recently held tripartite meeting as an effort to have "concrete cooperation" in certain areas, Ambassador Yao said they are working with Bangladesh and Pakistan to follow up and implement the consensus they reached.
"We have already identified 12 areas for concrete cooperation including industry, trade, education, environment protection, water resources. There will be some follow up and we are working with Bangladesh and Pakistan to follow up and implement this consensus," he told reporters after attending the seminar in the capital.
Ambassador Yao said the meeting, held recently in Kunming, was part of an initiative to have their cooperation to improve economic development and livelihoods of all there countries - Bangladesh, China and Pakistan.
"We are in a very critical moment. There are lots of things we can work together. I see this for the common interests of the three countries," said the Chinese Ambassador.
He stressed that the principle of cooperation is to remain open, maintain transparency and ensure mutual benefits. "Our cooperation is based on mutual trust. It is open and transparent process. It does not target any third country. That is the message to convey," said Ambassador Yao.
Earlier, Bangladesh, China and Pakistan identified several areas for deeper cooperation including infrastructure, connectivity, trade, investment, healthcare, agriculture, maritime affairs, ICT, disaster preparedness and climate change issues.
Bangladesh, China and Pakistan held the "informal trilateral meeting" on the sidelines of the 9th China-South Asia Exposition and the 6th China-South Asia Cooperation meeting in Kunming on June 19.
June 26, Foreign Affairs Adviser Md Touhid Hossain ruled out any new alliance among Bangladesh, China and Pakistan, and stressed that it was not done targeting Bangladesh's neighbouring country - India.
"We are not forming any alliance. It was a meeting at the official level, not at the political level.... there was no element of formation of any alliance," he told reporters at the Ministry of Foreign Affairs while responding to a question last month.
Asked whether the meeting was aimed at making India cornered, Adviser Hossain said it is certainly not targeting a third-party. "I can assure you."
Dhaka, Beijing need to unite to defend WTO rules
Referring to the US-imposed tariffs, Ambassador Yao said Bangladesh and China need to work to safeguard the WTO (World Trade Organization) rules and multilateral trade regime.
"That (WTO rules) is the centre to protect our common interest," he said, adding that they support all the measures taken by Bangladesh to safeguard their legitimate interests.
The Ambassador made the remarks while responding to a question after attending a seminar in the capital.
WTO is the only international organisation dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments.
The fundamental goal of the WTO, as set out in its founding agreement, is to use trade as a means to improve people's living standards, create better jobs and promote sustainable development.
Chief Adviser's Press Secretary Shafiqul Alam said Bangladesh hopes to build on the progress made during the first round of fruitful negotiations with the United States, as the second round of talks on the tariff issue began in Washington DC Wednesday.
The Office of the U.S. Trade Representative (USTR) is responsible for developing and coordinating US international trade, commodity and direct investment policy and overseeing negotiations with other countries.
Starting on August 1, 2025, US President Donald Trump said they will charge Bangladesh a tariff of only 35% on any and all Bangladeshi products sent into the United States, separate from all sectoral tariffs.
