China pledges 1b Yuan economic aid to Bangladesh

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Published on July 10, 2024
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Chinese Premier Li Qiang has announced economic assistance of 1 billion Yuan ($137.64 million) for Bangladesh, Foreign Minister Hasan Mahmud said during a media briefing today.

The Chinese PM emphasised the importance of the relationship between the two nations and expressed his desire to elevate it to new heights, he said.

In a cordial and fruitful discussion, Premier Li Qiang highlighted the historical ties initiated by the visits of Bangabandhu Sheikh Mujibur Rahman in 1952 and 1957 and noted the strengthening of these relations through Prime Minister Sheikh Hasina's six visits to China.

Prime Minister Hasina, currently on a visit to China, extended an invitation to Chinese President Xi Jinping, Premier Li Qiang, and other Chinese officials to visit Bangladesh next year to celebrate the 50th anniversary of diplomatic relations between the two countries.

Both leaders put emphasis on celebrating the golden jubilee of the diplomatic relationship in a befitting manner.

During the discussions, Prime Minister Hasina sought China's cooperation in resolving the Rohingya crisis and emphasised the need to reduce the trade gap with China.

Premier Li Qiang responded positively, indicating a willingness to import more Bangladeshi products, including leather goods, jute products, pharmaceuticals, and ceramics, the FM said.

Both nations agreed to collaborate in promoting global peace and upholding humanity.

Prime Minister Hasina invited increased Chinese investment in Bangladesh's 100 special economic zones and the Bangabandhu Industrial Park, highlighting the allocation of an export processing zone specifically for Chinese investors.

The PM also discussed Bangladesh's potential inclusion in BRICS and received assurance of Chinese support.

Additionally, she requested Chinese assistance to allow Bangladesh to continue enjoying LDC facilities for at least three more years following its graduation to a middle-income country in 2026, to which the Chinese premier responded positively.