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not even our policymakers know the answer.
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Chinese company Venus Beauty Ltd is going to set up a hair fashion accessories manufacturing industry in Bepza Economic Zone with an investment of $50 million.
This fully foreign-owned company will produce annually 226.09 million pieces of fashion accessories, plastic comb, mirror, headband, ponytailor and ponyband.
Around 4,000 Bangladeshi nationals will get employment opportunities in this factory, Bangladesh Export Processing Zones Authority (Bepza) said in a statement today.
Venus Beauty has another diversified product manufacturing factory named Tung Hing (BD) Manufacturing Ltd. in Cumilla Export Processing Zone.
Nafisa Banu, member (finance) of Bepza, signed a deal with AMM Shamsuddin Chowdhury, executive consultant of Venus Beauty Ltd, in this regard at Bepza Complex in Dhaka today.
Executive Chairman of Bepza Major General Abul Kalam Mohammad Ziaur Rahman attended the signing ceremony along with Executive Director (Administration) Md Zakir Hossain Chowdhury, Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam and Project Director of Bepza Economic Zone Md Hafizur Rahman.
Before this, Bepza signed lease agreements with seven other companies to set up industry in Bepza Economic Zone.
The companies will invest $120.11 million, creating job opportunities for 34,952 Bangladeshi nationals.
Chinese company to invest $50m in Bepza economic zone
Chinese company Venus Beauty Ltd is going to set up a hair fashion accessories manufacturing industry in Bepza Economic Zone with an investment of $50 million.
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Bangladesh has so far failed to obtain any benefit from the duty-free and quota-free (DFQF) market access facility in China.
The country could not increase its exports to the Chinese market as expected due to lack of exportable products, product standards and marketing initiatives, according to a latest report prepared by Bangladesh mission in China, a copy of which was circulated in the media.
China has so far granted DFQF facility to 8,549 Bangladeshi products, or 97% of the tariff lines in July 2020.
Earlier under the purview of the World Trade Organization (WTO) provisions, China offered the trade concession to the least developed countries (LDCs) in July, 2010 and Bangladesh used to enjoy the facility for products on 60% of its tariff lines.
Following the measures, Bangladesh's exports to China increased from $458.1 million in fiscal year 2012-13 (FY13) to highest $949.41 million in FY17, according to official figures.
Later, the exports registered $694.91 million and $731.10 million in FYs 2017-18 and 2018-19 respectively.
It was $680.65 million and $600.10 million in the Covid-hit FYs of 2019-20 and 2020-21 respectively.
China is the largest bilateral trading partner of Bangladesh with an annual value of over $12.13 billion.
In fiscal year 2019-20, Bangladesh imported goods worth over $11.53 billion from China.
The Bangladesh mission in China identified different reasons and barriers to exports included shortage of products as compared to China's demand, obligation to supply goods in accordance with the standards set by China, lack of aggressive marketing and deficit of Bangladeshi branded products.
It has also mentioned that language barrier and lack of ideas about the Chinese market have also been hindering the export growth.
The mission, however, suggested going for aggressive marketing, creating brand image online and onsite, and increasing business-to-business (B2B) connectivity to boost the exports to the Chinese market.
It also recommended improving images of big Bangladeshi brands by opening their outlets there for promotion, marketing, advertising, cultural exchange, etc.
The Bangladesh traders have not entered into China due to their zero-Covid policy that too affected the trade communication, the mission report mentioned.
It also pointed out that the exports to China during the pandemic did not register expected outcome as the Bangladeshi enterprises lag behind in online business.
However, the mission report noted that exports were in an upward trend in the last eight months of the current FY.
The trade concessions under the provisions of the World Trade Organization (WTO) would continue until Bangladesh officially graduates to a developing country status in 2026.
However, Bangladesh will continue to enjoy preferential market access to China under the Asia-Pacific Trade Agreement or APTA, which covers 3,700 HS Codes.
www.dhakatribune.com
The country could not increase its exports to the Chinese market as expected due to lack of exportable products, product standards and marketing initiatives, according to a latest report prepared by Bangladesh mission in China, a copy of which was circulated in the media.
China has so far granted DFQF facility to 8,549 Bangladeshi products, or 97% of the tariff lines in July 2020.
Earlier under the purview of the World Trade Organization (WTO) provisions, China offered the trade concession to the least developed countries (LDCs) in July, 2010 and Bangladesh used to enjoy the facility for products on 60% of its tariff lines.
Following the measures, Bangladesh's exports to China increased from $458.1 million in fiscal year 2012-13 (FY13) to highest $949.41 million in FY17, according to official figures.
Later, the exports registered $694.91 million and $731.10 million in FYs 2017-18 and 2018-19 respectively.
It was $680.65 million and $600.10 million in the Covid-hit FYs of 2019-20 and 2020-21 respectively.
China is the largest bilateral trading partner of Bangladesh with an annual value of over $12.13 billion.
In fiscal year 2019-20, Bangladesh imported goods worth over $11.53 billion from China.
The Bangladesh mission in China identified different reasons and barriers to exports included shortage of products as compared to China's demand, obligation to supply goods in accordance with the standards set by China, lack of aggressive marketing and deficit of Bangladeshi branded products.
It has also mentioned that language barrier and lack of ideas about the Chinese market have also been hindering the export growth.
The mission, however, suggested going for aggressive marketing, creating brand image online and onsite, and increasing business-to-business (B2B) connectivity to boost the exports to the Chinese market.
It also recommended improving images of big Bangladeshi brands by opening their outlets there for promotion, marketing, advertising, cultural exchange, etc.
The Bangladesh traders have not entered into China due to their zero-Covid policy that too affected the trade communication, the mission report mentioned.
It also pointed out that the exports to China during the pandemic did not register expected outcome as the Bangladeshi enterprises lag behind in online business.
However, the mission report noted that exports were in an upward trend in the last eight months of the current FY.
The trade concessions under the provisions of the World Trade Organization (WTO) would continue until Bangladesh officially graduates to a developing country status in 2026.
However, Bangladesh will continue to enjoy preferential market access to China under the Asia-Pacific Trade Agreement or APTA, which covers 3,700 HS Codes.
Bangladesh fails to capitalize duty-free, quota-free benefits
Mission in China reveals in report
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A Chinese company has been given the charge of collecting tolls of the "Bangabandhu Sheikh Mujibur Rahman Tunnel" built under the Karnaphuli river in Chattogram.
China Communications Construction Company Ltd has been appointed as the service provider/operator for maintenance and toll collection activities of the 3.32km long tunnel.
The proposal was approved, in principle, at a meeting of the Cabinet Committee on Economic Affairs today with Finance Minister AHM Mustafa Kamal in the chair, according to a notification of the Ministry of Finance.
www.thedailystar.net
China Communications Construction Company Ltd has been appointed as the service provider/operator for maintenance and toll collection activities of the 3.32km long tunnel.
The proposal was approved, in principle, at a meeting of the Cabinet Committee on Economic Affairs today with Finance Minister AHM Mustafa Kamal in the chair, according to a notification of the Ministry of Finance.
Karnaphuli Tunnel: Chinese company appointed to collect toll
A Chinese company has been given the charge of collecting tolls of the "Bangabandhu Sheikh Mujibur Rahman Tunnel" built under the Karnaphuli river in Chattogram.
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The first direct cargo ship between Bangladesh and China, operated by the Switzerland-based Mediterranean Shipping Company (MSC), left the Chattogram port on Tuesday.
The ship MSC KYMEA is scheduled to reach Hong Kong by picking up more containers from Singapore on the way.
As the bilateral trade between Bangladesh and China continues to rise, MSC has launched a shipping service called "Bengal Express" on the China-Bangladesh route, to facilitate direct shipping between the two countries.
According to MSC sources, the ships operating under this new service will load container goods from the Hong Kong port and the Chinese ports of Yantian and Shekou.
On the return trip to Chattogram port, these ships will load up more containers from the ports of Singapore and Malaysia.
MSC will initially operate four cargo ships on this route and two more ships will be added to the fleet subsequently. At least one ship carrying goods from China will arrive at Chattogram port per week.
The container ship MSC KYMEA arrived at Chattogram port jetty on 20 May with containers full of imported goods.
On Tuesday afternoon, the ship left for China carrying a total of 1,292 twenty-foot equivalent units (TEUs), of which 439 units were full of apparel goods.
According to Marine Traffic, which provides real-time location of ships, MCC KYMEA left Chattogram port at 5:30 pm. It will reach Singapore port on 26 May.
The new route will allow ships to carry goods from China to Chattogram via several other ports in just 12-13 days, reducing the current shipment time by half, said sources at MSC.
Currently, it takes about 25 days for regular ships to reach Chattogram port by loading and unloading goods at transshipment ports.
A senior official of MSC, on condition of anonymity, told TBS, "The new service will not allow ships to unload cargo at transshipment ports but they can pick up containers. So the cargo from China will reach Chattogram in 13 days. This will allow importers to transport goods in less time and at lower costs."
At present, 19 ships of various shipping lines are transporting goods from China to Chattogram port via transshipment ports.
www.tbsnews.net
The ship MSC KYMEA is scheduled to reach Hong Kong by picking up more containers from Singapore on the way.
As the bilateral trade between Bangladesh and China continues to rise, MSC has launched a shipping service called "Bengal Express" on the China-Bangladesh route, to facilitate direct shipping between the two countries.
According to MSC sources, the ships operating under this new service will load container goods from the Hong Kong port and the Chinese ports of Yantian and Shekou.
On the return trip to Chattogram port, these ships will load up more containers from the ports of Singapore and Malaysia.
MSC will initially operate four cargo ships on this route and two more ships will be added to the fleet subsequently. At least one ship carrying goods from China will arrive at Chattogram port per week.
The container ship MSC KYMEA arrived at Chattogram port jetty on 20 May with containers full of imported goods.
On Tuesday afternoon, the ship left for China carrying a total of 1,292 twenty-foot equivalent units (TEUs), of which 439 units were full of apparel goods.
According to Marine Traffic, which provides real-time location of ships, MCC KYMEA left Chattogram port at 5:30 pm. It will reach Singapore port on 26 May.
The new route will allow ships to carry goods from China to Chattogram via several other ports in just 12-13 days, reducing the current shipment time by half, said sources at MSC.
Currently, it takes about 25 days for regular ships to reach Chattogram port by loading and unloading goods at transshipment ports.
A senior official of MSC, on condition of anonymity, told TBS, "The new service will not allow ships to unload cargo at transshipment ports but they can pick up containers. So the cargo from China will reach Chattogram in 13 days. This will allow importers to transport goods in less time and at lower costs."
At present, 19 ships of various shipping lines are transporting goods from China to Chattogram port via transshipment ports.
First direct container ship to China leaves Ctg port
The direct shipping service will allow ships to carry goods from China to Chattogram in just 12-13 days, reducing the current shipment time by half
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BBS Cables will sell cables worth Tk 47.24 crore to China Communications Construction Company Ltd.
To this effect, BBS Cables signed a sales contract with the Chinese company yesterday, according to a post on the website of the Dhaka Stock Exchange.
China Communications Construction Company Ltd is now engaged in the construction of the Bangabandhu Sheikh Mujibur Rahman Tunnel under the Karnaphuli River.
Under the contract, the Chinese company will buy power cable, control cable and some other types of cable.
The cables will be delivered within 90 days from the signing of the contract, according to the post.
Md Golam Habib, company secretary of BBS Cables, said this is a big sale of the company in the fourth quarter of the current fiscal year.
He also hoped for doing further trade with the Chinese company.
www.thedailystar.net
To this effect, BBS Cables signed a sales contract with the Chinese company yesterday, according to a post on the website of the Dhaka Stock Exchange.
China Communications Construction Company Ltd is now engaged in the construction of the Bangabandhu Sheikh Mujibur Rahman Tunnel under the Karnaphuli River.
Under the contract, the Chinese company will buy power cable, control cable and some other types of cable.
The cables will be delivered within 90 days from the signing of the contract, according to the post.
Md Golam Habib, company secretary of BBS Cables, said this is a big sale of the company in the fourth quarter of the current fiscal year.
He also hoped for doing further trade with the Chinese company.
BBS to sell Tk 47.24 crore worth cables to Chinese company
BBS Cables will sell cables worth Tk 47.24 crore to China Communications Construction Company Ltd.
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The Banshkhali power plant —SS Power 1— in Chattogram is expected to go into production by the end of this year, Chinese ambassador to Bangladesh, Li Jiming, said on Thursday.
Visiting the under-construction coal-fired power plant, he said 95% of the project's construction is complete.
"The remaining work will be finished by December of this year and it will begin production from that month," the Chinese envoy said.
The 1320MW power plant near the Bay of Bengal is one of the most significant joint ventures between Bangladesh and China, with the S Alam Group holding 70% of ownership. It is one of the largest coal-fired power plants in the country.
National and international environmental activists have warned that the power plant will cause massive harm to the environment due to its use of coal.
However, Li Jiming claimed, "Despite it being a coal-fired power plant, there is no fear of environmental pollution due to supercritical technology."
He said, "This technology can produce more power with less coal. Many countries across the globe are using this technology to build coal-fired plants."
Echoing Jiming, the project's Deputy General Manager (Mechanical) Ashraf Uddin said the plant is being equipped with an electrostatic precipitator and flue gas desulfurisation, which will help with reducing pollution.
Md Faizur Rahman, site project manager of the power plant, confirmed that the project is progressing at a fast pace.
He put the progress on the engineering side at 99.89%, procurement progress at 98.76%, and construction progress at 92.22%.
According to sources, the SS Power 1 power plant will run on imported coal, most of which will be bought from Indonesia, but if necessary, coal will be imported from Australia. A large jetty has been built on the adjacent beach to unload coal.
The power plant is being built on 606 acres of land in the Gandamara union of Banshkhali since 2015. It will generate electricity in two units, each with a capacity of 660 MW. 198 power line poles have been installed for the transmission line from Banshkhali to Madunaghat in Chattogram to supply the electricity generated.
Banshkhali power plant to begin production in December, says Chinese envoy
The Banshkhali power plant —SS Power 1— in Chattogram is expected to go into production by the end of this year, Chinese ambassador to Bangladesh, Li Jiming, said on Thursday. Visiting the under-construction coal-fired power plant, he said 95% of the project's construction is complete. "The...
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China is going to increase the tariff-free quota benefit for more Bangladeshi goods to minimise the trade imbalance between the two countries.
Some 97 per cent goods originated from Bangladesh have been enjoying duty benefit to Chinese markets since July 2020 and now the Jinping administration offered raising it to 98 per cent.
The 97 per cent package covers nearly 9,000 Bangladeshi goods and the proposed 98 per cent threshold will cover more than 9,000 items meant for Chinese markets.
However, Bangladesh will lose the duty benefit for 98 per cent goods after its graduation to a developing nation in 2026 if the country does not sign any trade deal with China.
The tariff-free quota will be expanded by 1 percentage point as soon as possible, said Li Jiming, the Chinese ambassador to Bangladesh.
"We are at the final stage now," Jiming said at a seminar on "Making the most of market access in China: What needs to be done?" jointly organised by Bangladesh China Chamber of Commerce and Industry and the Research and Policy Integration for Development at Pan Pacific Sonargaon in Dhaka.
"One per cent is very crucial," he said. "We also need to make the free trade agreement (FTA). A joint working group is working on it. I hope the FTA can be signed as soon as possible," the Chinese envoy said.
The signing of the FTA with China will not only increase trade, but also fuel investment and give a boost to the two countries' tourism and education, he also said.
The Chinese ambassador also said Bangladesh may also join the Regional Comprehensive Economic Partnership, the largest regional free-trade bloc led by China.
The envoy also said a bilateral joint economic committee will sit in an important meeting at the end of this month to resolve pending issues related to livestock and agriculture.
"Deeper financial cooperation is also needed between the two countries," the envoy also said, adding that setting up of Chinese banks in Bangladesh is also important for currency exchange with Bangladesh in future.
However, peace and political stability are important for the economic growth of this region, Jiming also said.
www.thedailystar.net
Some 97 per cent goods originated from Bangladesh have been enjoying duty benefit to Chinese markets since July 2020 and now the Jinping administration offered raising it to 98 per cent.
The 97 per cent package covers nearly 9,000 Bangladeshi goods and the proposed 98 per cent threshold will cover more than 9,000 items meant for Chinese markets.
However, Bangladesh will lose the duty benefit for 98 per cent goods after its graduation to a developing nation in 2026 if the country does not sign any trade deal with China.
The tariff-free quota will be expanded by 1 percentage point as soon as possible, said Li Jiming, the Chinese ambassador to Bangladesh.
"We are at the final stage now," Jiming said at a seminar on "Making the most of market access in China: What needs to be done?" jointly organised by Bangladesh China Chamber of Commerce and Industry and the Research and Policy Integration for Development at Pan Pacific Sonargaon in Dhaka.
"One per cent is very crucial," he said. "We also need to make the free trade agreement (FTA). A joint working group is working on it. I hope the FTA can be signed as soon as possible," the Chinese envoy said.
The signing of the FTA with China will not only increase trade, but also fuel investment and give a boost to the two countries' tourism and education, he also said.
The Chinese ambassador also said Bangladesh may also join the Regional Comprehensive Economic Partnership, the largest regional free-trade bloc led by China.
The envoy also said a bilateral joint economic committee will sit in an important meeting at the end of this month to resolve pending issues related to livestock and agriculture.
"Deeper financial cooperation is also needed between the two countries," the envoy also said, adding that setting up of Chinese banks in Bangladesh is also important for currency exchange with Bangladesh in future.
However, peace and political stability are important for the economic growth of this region, Jiming also said.
China to provide tariff benefit to more Bangladeshi goods
China is going to increase the tariff-free quota benefit for more Bangladeshi goods to minimise the trade imbalance between the two countries.
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Most of foreign direct investment (FDI) proposals had come from China, said Md Sirazul Islam, executive chairman of the Bangladesh Investment Development Authority (Bida).
He said this while speaking at the signing ceremony of a Memorandum of Understanding (MoU) between Bida and the Bangladesh China Chamber of Commerce and Industry (BCCCI) in the capital on Monday.
Under the agreement, the two organisations will work together to increase foreign investment, especially Chinese investment.
Sirazul said in the 2021-22 fiscal year, China was in the first position in the registration for foreign direct investment (FDI) in Bida.
China registered for an investment of $770 million. Korea has the second-highest at $161 million.
"We can expect a lot more big investments from China," said Md Sirajul Islam.
Recently, a delegation from China expressed interest to invest in the health sector, he further said.
He, however, said private investment proposals from China at present are not satisfactory.
"Officially, China is one of the biggest partners in the development of Bangladesh. China has been working directly on many of our government projects," he said.
Sirazul said, "We need to tell foreigners that the investment environment in Bangladesh has improved over the last 10 years. If foreigners do not know, they will not invest."
Md Sirazul Islam said there was no need to be overwhelmed with the report of the United Nations Conference on Trade and Development (UNCTAD) published on 9 June.
He said the foreign direct investment saw 13% growth in Bangladesh.
On the other hand, year-on-year FDI increased 43% worldwide, he said.
He said, "Our target is to bring the FDI amount to 3% of our GDP in 2025. It is now below 1%."
Al Mamun Mridha, joint secretary-general of the BCCCI, said more than 700 of their members were working to increase Chinese investment in the country at present.
"We want to hold an investment summit in China with the help of Bida," he said.
Abhijit Chowdhury, an executive member of Bida, also spoke on the occasion.
www.tbsnews.net
He said this while speaking at the signing ceremony of a Memorandum of Understanding (MoU) between Bida and the Bangladesh China Chamber of Commerce and Industry (BCCCI) in the capital on Monday.
Under the agreement, the two organisations will work together to increase foreign investment, especially Chinese investment.
Sirazul said in the 2021-22 fiscal year, China was in the first position in the registration for foreign direct investment (FDI) in Bida.
China registered for an investment of $770 million. Korea has the second-highest at $161 million.
"We can expect a lot more big investments from China," said Md Sirajul Islam.
Recently, a delegation from China expressed interest to invest in the health sector, he further said.
He, however, said private investment proposals from China at present are not satisfactory.
"Officially, China is one of the biggest partners in the development of Bangladesh. China has been working directly on many of our government projects," he said.
Sirazul said, "We need to tell foreigners that the investment environment in Bangladesh has improved over the last 10 years. If foreigners do not know, they will not invest."
Md Sirazul Islam said there was no need to be overwhelmed with the report of the United Nations Conference on Trade and Development (UNCTAD) published on 9 June.
He said the foreign direct investment saw 13% growth in Bangladesh.
On the other hand, year-on-year FDI increased 43% worldwide, he said.
He said, "Our target is to bring the FDI amount to 3% of our GDP in 2025. It is now below 1%."
Al Mamun Mridha, joint secretary-general of the BCCCI, said more than 700 of their members were working to increase Chinese investment in the country at present.
"We want to hold an investment summit in China with the help of Bida," he said.
Abhijit Chowdhury, an executive member of Bida, also spoke on the occasion.
Most FDI offers come from China: Bida
Under the agreement, the two organisations will work together to increase foreign investment, especially Chinese investment
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China has proposed to build the Dhaka-Chattogram Expressway under a government-to-government-Public Private Partnership (G2G-PPP) framework, bringing the project cancelled last year back into focus.
State-owned China State Construction Engineering Corporation Ltd (CSCEC) recently sent a proposal to the principal secretary to the prime minister to this effect.
A copy of the letter, sent by Liu Bingquan, authorised representative of CSCEC, was also sent to the personal secretary of the Road Transport and Bridges Minister Obaidul Quader, ministry sources said.
The development comes at a time when road transport and bridges ministry is considering reviving the expressway plan, which was cancelled formally in October last year.
On Wednesday, the ministry's road transport and highways division will hold a meeting to take opinions from officials concerned for reviving the expressway plan, ABM Amin Ullah Nuri, secretary of the division, told The Daily Star yesterday.
He said a Chinese company has sent a proposal to implement expressway project to the principal secretary and they also received a copy.
"However, we did not get any directive from the PMO. So, the particular proposal is not on our discussion list. But we will take opinions of experts [within the ministry and agencies] at the meeting to revive the expressway plan."
Indecision, short-sightedness and piecemeal measures have long been plaguing the government's plan to upgrade the Dhaka-Chattogram corridor, considered the economic lifeline of the country.
The government took the expressway project in 2013 but the prime minister ordered to drop it in 2019, deciding instead to build a rather expensive high-speed railway between Dhaka and Chattogram, which is now on the backburner.
According to experts and business leaders, as much as 80-90 percent of the country's trade is carried out using the Dhaka-Chattogram highway, and so the government should first develop the expressway for the sake of economic growth.
Talking to this newspaper earlier this year, Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry, said the average speed of vehicles on major highways is around 30 kilometres per hour.
Bangladesh's competitiveness in export will rise by six to seven percent if the average speed on the Dhaka-Chattogram highway reaches 80kmph, which can best be achieved with an expressway, he added.
RHD officials at a recent meeting with the chief executive officer of Public Private Partnership Authority requested to reconsider the expressway plan before taking any project to add more lanes on the existing Dhaka-Chattogram highway, RHD sources said.
In 2009, the daily average number of vehicles on the highway was between 20,000 and 25,000. Forty percent of them were trucks. It was expected that the number could reach 66,000 in 2030, according to the documents.
In March 2013, the cabinet committee on economic affairs approved the expressway project under PPP. The government signed a deal with the ADB the following month to carry out a feasibility study and make a detailed design spending Tk 97.87 crore.
Over two years later, the study was placed the before prime minister who gave consent to building the expressway consisting of elevated sections. The estimated construction cost for the 217km expressway was $2.5 billion at that time, sources said.
Consultants were even appointed for necessary assessments to implement the project under the PPP framework, RHD sources said.
But the prime minister in October 2019 ordered cancellation of the expressway project, giving directives for construction of service lanes on either side of the existing four-lane highway, sources said.
In October last year, the same cabinet committee formally scrapped the plan. Abdus Sabur, then chief engineer of the roads and highways department, told this correspondent that the prime minister was in favour of building a high-speed rail system between Dhaka-Chattogram.
BR already completed the feasibility study and detailed design for high-speed rail, spending around Tk 110 crores.
As per the study, the 224.64-km rail line, which would bring travel time between the capital and the port city down to just 55 minutes (73 minutes with stops), would cost Tk 93,350.93 crore.
But talking to this correspondent in October last year, Railways Minister Nurul Islam Sujan said the government would "go slow" considering the expenses.
Meanwhile, China Railway Group Ltd, another Chinese state-owned company, has proposed carrying out the project under the G2G-PPP framework and Chinese Ambassador in Dhaka Li Jiming in April wrote to the railways minister for signing a memorandum of understanding between the company and BR "as soon as possible".
But prominent transport experts questioned the viability of a project with such huge investment. Some said BR lacks the capacity to complete this "highly ambitious" scheme.
Under the G2G-PPP arrangement, Bangladesh may request other governments to provide financial support and select state-owned or private entities to act as investors.
The company will build, maintain and operate the structure for a certain period and get money following the terms mentioned in the agreement.
No project under the G2G-PPP arrangement has yet to be implemented in Bangladesh. Discussions with several countries, including Japan and South Korea, have been going on to implement some projects under this model.
The company said they have completed numerous projects around the globe and were involved in 10 projects in Bangladesh so far totalling around $1 billion contract value.
"Desirous to be a partner in building this expressway, we hereby present ourselves for your kind assessment and consideration," reads the proposal.
www.thedailystar.net
State-owned China State Construction Engineering Corporation Ltd (CSCEC) recently sent a proposal to the principal secretary to the prime minister to this effect.
A copy of the letter, sent by Liu Bingquan, authorised representative of CSCEC, was also sent to the personal secretary of the Road Transport and Bridges Minister Obaidul Quader, ministry sources said.
The development comes at a time when road transport and bridges ministry is considering reviving the expressway plan, which was cancelled formally in October last year.
On Wednesday, the ministry's road transport and highways division will hold a meeting to take opinions from officials concerned for reviving the expressway plan, ABM Amin Ullah Nuri, secretary of the division, told The Daily Star yesterday.
He said a Chinese company has sent a proposal to implement expressway project to the principal secretary and they also received a copy.
"However, we did not get any directive from the PMO. So, the particular proposal is not on our discussion list. But we will take opinions of experts [within the ministry and agencies] at the meeting to revive the expressway plan."
Indecision, short-sightedness and piecemeal measures have long been plaguing the government's plan to upgrade the Dhaka-Chattogram corridor, considered the economic lifeline of the country.
The government took the expressway project in 2013 but the prime minister ordered to drop it in 2019, deciding instead to build a rather expensive high-speed railway between Dhaka and Chattogram, which is now on the backburner.
According to experts and business leaders, as much as 80-90 percent of the country's trade is carried out using the Dhaka-Chattogram highway, and so the government should first develop the expressway for the sake of economic growth.
Talking to this newspaper earlier this year, Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry, said the average speed of vehicles on major highways is around 30 kilometres per hour.
Bangladesh's competitiveness in export will rise by six to seven percent if the average speed on the Dhaka-Chattogram highway reaches 80kmph, which can best be achieved with an expressway, he added.
RHD officials at a recent meeting with the chief executive officer of Public Private Partnership Authority requested to reconsider the expressway plan before taking any project to add more lanes on the existing Dhaka-Chattogram highway, RHD sources said.
THE FLIPFLOP
The government in 2004 decided to build a limited-access road. Four years later, the ADB financed a feasibility study and concept designs of the four-lane Dhaka-Chattogram highway, according to documents of the multilateral lender.In 2009, the daily average number of vehicles on the highway was between 20,000 and 25,000. Forty percent of them were trucks. It was expected that the number could reach 66,000 in 2030, according to the documents.
In March 2013, the cabinet committee on economic affairs approved the expressway project under PPP. The government signed a deal with the ADB the following month to carry out a feasibility study and make a detailed design spending Tk 97.87 crore.
Over two years later, the study was placed the before prime minister who gave consent to building the expressway consisting of elevated sections. The estimated construction cost for the 217km expressway was $2.5 billion at that time, sources said.
Consultants were even appointed for necessary assessments to implement the project under the PPP framework, RHD sources said.
But the prime minister in October 2019 ordered cancellation of the expressway project, giving directives for construction of service lanes on either side of the existing four-lane highway, sources said.
In October last year, the same cabinet committee formally scrapped the plan. Abdus Sabur, then chief engineer of the roads and highways department, told this correspondent that the prime minister was in favour of building a high-speed rail system between Dhaka-Chattogram.
BR already completed the feasibility study and detailed design for high-speed rail, spending around Tk 110 crores.
As per the study, the 224.64-km rail line, which would bring travel time between the capital and the port city down to just 55 minutes (73 minutes with stops), would cost Tk 93,350.93 crore.
But talking to this correspondent in October last year, Railways Minister Nurul Islam Sujan said the government would "go slow" considering the expenses.
Meanwhile, China Railway Group Ltd, another Chinese state-owned company, has proposed carrying out the project under the G2G-PPP framework and Chinese Ambassador in Dhaka Li Jiming in April wrote to the railways minister for signing a memorandum of understanding between the company and BR "as soon as possible".
But prominent transport experts questioned the viability of a project with such huge investment. Some said BR lacks the capacity to complete this "highly ambitious" scheme.
CHINESE PROPOSAL FOR EXPRESSWAY
In its letter sent to the principal secretary to the prime minister on May 29, the CSCEC said they "understood" that the Bangladesh government wished to implement the expressway on a G2G-PPP basis.Under the G2G-PPP arrangement, Bangladesh may request other governments to provide financial support and select state-owned or private entities to act as investors.
The company will build, maintain and operate the structure for a certain period and get money following the terms mentioned in the agreement.
No project under the G2G-PPP arrangement has yet to be implemented in Bangladesh. Discussions with several countries, including Japan and South Korea, have been going on to implement some projects under this model.
The company said they have completed numerous projects around the globe and were involved in 10 projects in Bangladesh so far totalling around $1 billion contract value.
"Desirous to be a partner in building this expressway, we hereby present ourselves for your kind assessment and consideration," reads the proposal.
China wants to build Dhaka-Ctg expressway
China has proposed to build the Dhaka-Chattogram Expressway under a government-to-government-Public Private Partnership (G2G-PPP) framework, bringing the project cancelled last year back into focus.
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After high-speed rail and the research and development center of Bangladesh Railway (BR), China now wants to invest for building new rail lines connected to several economic zones, Chittagong Sea Port and new Teesta and Hardinge bridges.
China Energy Engineering Corporation Ltd or Energy China (CEEC), a Chinese state-owned conglomerate, also expressed interest to construct and modernize railway workshops and build accessories factory here.
The company, with a partnership with another state-owned Chinese company, intended to invest in total 10 projects under the Government-to-Government-Public Private Partnership (PPP) framework, documents show.
Zhang Deliang, vice president of China Energy International Group Company Ltd, a subsidiary of CEEC, has sent two separate proposals to the Railways Minister Nurul Islam Sujan on May 22.
The Railways Ministry last month wrote to BR's Director General Dhirendra Nath Mazumder to give opinion over the proposals upon scrutinizing those, BR sources said.
Under the G2G-PPP arrangement, Bangladesh may request other governments to provide financial support and select state-owned or private entities to act as the investors.
The company will build, maintenance and operate the structure for a certain period and get money following the terms mentioned in the agreement.
No project under the G2G-PPP arrangement has yet to be implemented in Bangladesh. Discussions with several countries, including Japan and South Korea, have been going on to implement some projects under this model.
The Chinese proposal comes at a time when BR is implementing its biggest yet ever project -- Padma Bridge Rail Link -- with Tk 39,246 crore in Chinese loan.
Two more rail projects were expected to be implemented with Chinese loans. Beijing had even selected two Chinese contractors for these projects, but both projects are now uncertain as China pulled out funding from one while the selected Chinese contractor declined to work for another project in a decreased price.
Different Chinese companies are also involved with at least five major railway infrastructure projects, including two fast-track projects -- Padma Bridge Rail Link and Chattogram-Cox's Bazar Rail Link.
Meanwhile, China, earlier this year, has proposed to invest in high-speed railway project between Dhaka and Chattogram under the G2G PPP framework.
The country has also selected China Railway Group Ltd (CREC), a state-run company, for implementing the project, which was apparently put on the back burner considering the huge amount of money -- Tk 93,35,0.93 crore ($1=Tk 84) -- required for its implementation.
Besides, another Chinese state-run company-- China Railway Design Corporation (CRDC)—submitted a proposal to set up a research and development centre for railway in a joint venture with the BR.
None of the proposals yet to see visible progress.
WHAT ARE THE PROPOSALS
CEEC, a state-owned conglomerate with its headquarters in Beijing, is involved in energy/power, real estate and infrastructure sectors, reads the proposals.
Their partner CRDC, the design enterprise subordinate to China State Railway Group Co Ltd, was involved in carrying out the feasibility study and detailed design for the high-speed rail project, it said.
In a proposal, the company said BR is promoting the process of modernization. But the existing 'aging and disrepair maintenance facilities' cannot meet the growing demand.
At the same time, it said, BR needs to purchase large quantities of spares parts and maintenance tolls from abroad spending foreign exchange.
"We propose to participate in the renovation of the existing workshops under the G2G PPP mode and invest in an accessories factory for domestic sales and supply to surrounding countries," reads the proposal.
It expressed interest to participate in the following projects: construction of a new diesel locomotive workshop in Chattogram; modernization and upgradation of signal workshop at Chattogram's Kadamtali; reconstruction of existing carriage and wagon workshop in Chattogram; and establishing an accessories factory.
In a separate proposal, it said, Bangladesh has an excellent economic development momentum and has become the region with the most investment potential in South Asia.
As the government is setting up economic zones at Jamalpur, Mirersarai, Feni and other places, the railway link with those economic zones will give huge advantage in transportation because of its abundant transportation capacity, punctuality and quickness, it said.
It is urgent to build several multi-functional bridges due to the natural barrier of the river and lack of crossing facilities. "We wish to adopt PPP/G2G PPP mode to participate in Bangladesh Railway's economic zone rail link line and bridge projects," it added.
The six projects are: construction of railway link to Feni and Mirersai economic zones; Jamalpur Economic Zone; Uttara EPZ in Nilphamari; construction of railway link to Bay Terminal in Chattogram; construction of a new bridge parallel to the existing Hardinge Bridge and Teesta Railway Bridge.
BR has already carried out feasibility study and detail design for rail line to connect Jamalpur and Mirsarai and Feni economic zones and new Teesta Bridge while study is going for Bay Terminal rail link and new Hardinge Bridge, BR source said.
Railways Ministry's Secretary Humayun Kabir and BR's Director General Dhirendra Nath Mazumder could not be reached over phone for comments, even after sending message.
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China Energy Engineering Corporation Ltd or Energy China (CEEC), a Chinese state-owned conglomerate, also expressed interest to construct and modernize railway workshops and build accessories factory here.
The company, with a partnership with another state-owned Chinese company, intended to invest in total 10 projects under the Government-to-Government-Public Private Partnership (PPP) framework, documents show.
Zhang Deliang, vice president of China Energy International Group Company Ltd, a subsidiary of CEEC, has sent two separate proposals to the Railways Minister Nurul Islam Sujan on May 22.
The Railways Ministry last month wrote to BR's Director General Dhirendra Nath Mazumder to give opinion over the proposals upon scrutinizing those, BR sources said.
Under the G2G-PPP arrangement, Bangladesh may request other governments to provide financial support and select state-owned or private entities to act as the investors.
The company will build, maintenance and operate the structure for a certain period and get money following the terms mentioned in the agreement.
No project under the G2G-PPP arrangement has yet to be implemented in Bangladesh. Discussions with several countries, including Japan and South Korea, have been going on to implement some projects under this model.
The Chinese proposal comes at a time when BR is implementing its biggest yet ever project -- Padma Bridge Rail Link -- with Tk 39,246 crore in Chinese loan.
Two more rail projects were expected to be implemented with Chinese loans. Beijing had even selected two Chinese contractors for these projects, but both projects are now uncertain as China pulled out funding from one while the selected Chinese contractor declined to work for another project in a decreased price.
Different Chinese companies are also involved with at least five major railway infrastructure projects, including two fast-track projects -- Padma Bridge Rail Link and Chattogram-Cox's Bazar Rail Link.
Meanwhile, China, earlier this year, has proposed to invest in high-speed railway project between Dhaka and Chattogram under the G2G PPP framework.
The country has also selected China Railway Group Ltd (CREC), a state-run company, for implementing the project, which was apparently put on the back burner considering the huge amount of money -- Tk 93,35,0.93 crore ($1=Tk 84) -- required for its implementation.
Besides, another Chinese state-run company-- China Railway Design Corporation (CRDC)—submitted a proposal to set up a research and development centre for railway in a joint venture with the BR.
None of the proposals yet to see visible progress.
WHAT ARE THE PROPOSALS
CEEC, a state-owned conglomerate with its headquarters in Beijing, is involved in energy/power, real estate and infrastructure sectors, reads the proposals.
Their partner CRDC, the design enterprise subordinate to China State Railway Group Co Ltd, was involved in carrying out the feasibility study and detailed design for the high-speed rail project, it said.
In a proposal, the company said BR is promoting the process of modernization. But the existing 'aging and disrepair maintenance facilities' cannot meet the growing demand.
At the same time, it said, BR needs to purchase large quantities of spares parts and maintenance tolls from abroad spending foreign exchange.
"We propose to participate in the renovation of the existing workshops under the G2G PPP mode and invest in an accessories factory for domestic sales and supply to surrounding countries," reads the proposal.
It expressed interest to participate in the following projects: construction of a new diesel locomotive workshop in Chattogram; modernization and upgradation of signal workshop at Chattogram's Kadamtali; reconstruction of existing carriage and wagon workshop in Chattogram; and establishing an accessories factory.
In a separate proposal, it said, Bangladesh has an excellent economic development momentum and has become the region with the most investment potential in South Asia.
As the government is setting up economic zones at Jamalpur, Mirersarai, Feni and other places, the railway link with those economic zones will give huge advantage in transportation because of its abundant transportation capacity, punctuality and quickness, it said.
It is urgent to build several multi-functional bridges due to the natural barrier of the river and lack of crossing facilities. "We wish to adopt PPP/G2G PPP mode to participate in Bangladesh Railway's economic zone rail link line and bridge projects," it added.
The six projects are: construction of railway link to Feni and Mirersai economic zones; Jamalpur Economic Zone; Uttara EPZ in Nilphamari; construction of railway link to Bay Terminal in Chattogram; construction of a new bridge parallel to the existing Hardinge Bridge and Teesta Railway Bridge.
BR has already carried out feasibility study and detail design for rail line to connect Jamalpur and Mirsarai and Feni economic zones and new Teesta Bridge while study is going for Bay Terminal rail link and new Hardinge Bridge, BR source said.
Railways Ministry's Secretary Humayun Kabir and BR's Director General Dhirendra Nath Mazumder could not be reached over phone for comments, even after sending message.
China looks to invest more in Bangladesh Railway
After high-speed rail and the research and development center of Bangladesh Railway (BR), China now wants to invest for building new rail lines connected to several economic zones, Chittagong Sea Port and new Teesta and Hardinge bridges.
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Biman Bangladesh Airlines, the country's national flag carrier, is going to operate flights on Dhaka-Kunming-Dhaka and Dhaka-Guangzhou routes as it received clearance from China authority.
"The Civil Aviation Authority of China (CAAC) has given a nod to Biman Bangladesh Airlines to launch flight on Dhaka-Kunming and Dhaka-Guangzhou routes," Hualong Yan, deputy chief of mission of China embassy in Dhaka said in his Facebook post on Monday.
The approval will further facilitate travel of students and business communities of the two countries, he added.
Zahid Hossain, managing director of the Biman Bangladesh Airlines, told TBS, "We have applied to China civil aviation authority to operate flights in these two routes. We have been informed that China has given approval, but still we did not receive official documents in this regard."
"We will operate the flights within two weeks through big aircrafts once we get the official approval from China authority," he added.
Earlier in January this year, Biman Bangladesh Airlines had decided to launch flights on these routes, considering the growing demand from passengers.
As part of this, the airline inaugurated its office in Guangzhou, China, said a Biman press release at that time.
www.tbsnews.net
"The Civil Aviation Authority of China (CAAC) has given a nod to Biman Bangladesh Airlines to launch flight on Dhaka-Kunming and Dhaka-Guangzhou routes," Hualong Yan, deputy chief of mission of China embassy in Dhaka said in his Facebook post on Monday.
The approval will further facilitate travel of students and business communities of the two countries, he added.
Zahid Hossain, managing director of the Biman Bangladesh Airlines, told TBS, "We have applied to China civil aviation authority to operate flights in these two routes. We have been informed that China has given approval, but still we did not receive official documents in this regard."
"We will operate the flights within two weeks through big aircrafts once we get the official approval from China authority," he added.
Earlier in January this year, Biman Bangladesh Airlines had decided to launch flights on these routes, considering the growing demand from passengers.
As part of this, the airline inaugurated its office in Guangzhou, China, said a Biman press release at that time.
Biman gets nod to operate flights to China’s Kunming, Guangzhou
It will further facilitate travel of students and business communities of the two countries, a China Embassy top official says
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Chinese company M/s KPST Shoes (BD) Co Ltd is going to establish a shoes accessories manufacturing industry in Bepza Economic Zone (Bepza EZ).
This fully foreign owned company will invest $8.07 million where 2,650 Bangladeshi nationals will get employment opportunities.
Ali Reza Mazid, member (Investment Promotion) of Bepza and LUO Zhexian, managing director of KPST Shoes signed an agreement to this effect on behalf of their respective organisations on Wednesday (3 August) at Bepza Complex, Dhaka, reads a press release.
The company will produce annually 30 million pairs of insole, outsole & midsole and 0.3 million cubic metres EVA and PU foam.
The dependency on import of the above-mentioned materials of export-oriented shoe industries of the country will be decreased by the operation of the factory.
Bepza Executive Chairman Maj Gen Abul Kalam Mohammad Ziaur Rahman was present in the agreement signing ceremony.
Mentionable, including KPST Shoes, Bepza approved total 12 enterprises to establish industries in Bepza EZ, the largest venture of Bepza.
The total proposed investment of these enterprises is $251.78 million.
Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Admin) Md Zakir Hossain Chowdhury, Project Director of Bepza EZ Md Hafizur Rahman, Executive Director (Investment Promotion) Md Tanvir Hossain and Executive Director (Enterprise Services) Md Khorshid Alam were present during the signing ceremony.
www.tbsnews.net
This fully foreign owned company will invest $8.07 million where 2,650 Bangladeshi nationals will get employment opportunities.
Ali Reza Mazid, member (Investment Promotion) of Bepza and LUO Zhexian, managing director of KPST Shoes signed an agreement to this effect on behalf of their respective organisations on Wednesday (3 August) at Bepza Complex, Dhaka, reads a press release.
The company will produce annually 30 million pairs of insole, outsole & midsole and 0.3 million cubic metres EVA and PU foam.
The dependency on import of the above-mentioned materials of export-oriented shoe industries of the country will be decreased by the operation of the factory.
Bepza Executive Chairman Maj Gen Abul Kalam Mohammad Ziaur Rahman was present in the agreement signing ceremony.
Mentionable, including KPST Shoes, Bepza approved total 12 enterprises to establish industries in Bepza EZ, the largest venture of Bepza.
The total proposed investment of these enterprises is $251.78 million.
Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Admin) Md Zakir Hossain Chowdhury, Project Director of Bepza EZ Md Hafizur Rahman, Executive Director (Investment Promotion) Md Tanvir Hossain and Executive Director (Enterprise Services) Md Khorshid Alam were present during the signing ceremony.
Chinese company to establish $8.07m shoe accessories factory in Bepza EZ
Chinese company M/s KPST Shoes (BD) Co Ltd is going to establish a shoes accessories manufacturing industry in Bepza Economic Zone (Bepza EZ). This fully foreign owned company will invest $8.07 million where 2,650 Bangladeshi nationals will get employment opportunities. Ali Reza Mazid, member...
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Bangladesh reiterates her firm adherence to "One China" principle, says the Ministry of Foreign Affairs in an official statement.
The statement reads that, "Bangladesh is closely following the developments in the Taiwan Strait and urges all parties concerned to exercise utmost restraint and refrain from any actions that may aggravate tensions and undermine peace and stability in the region and beyond."
The ministry also urged the parties concerned to resolve their differences in accordance with the UN Charter and through dialogue.
On 2 August, in disregard of China's strong opposition and serious representations, Speaker of the US House of Representatives Nancy Pelosi visited China's Taiwan region.
Following the visit Chinese ambassador to Bangladesh Li Jiming said that China firmly opposes and sternly condemns this.
www.tbsnews.net
The statement reads that, "Bangladesh is closely following the developments in the Taiwan Strait and urges all parties concerned to exercise utmost restraint and refrain from any actions that may aggravate tensions and undermine peace and stability in the region and beyond."
The ministry also urged the parties concerned to resolve their differences in accordance with the UN Charter and through dialogue.
On 2 August, in disregard of China's strong opposition and serious representations, Speaker of the US House of Representatives Nancy Pelosi visited China's Taiwan region.
Following the visit Chinese ambassador to Bangladesh Li Jiming said that China firmly opposes and sternly condemns this.
Bangladesh reiterates firm adherence to One China principle: Ministry of Foreign Affairs
Bangladesh reiterates her firm adherence to "One China" principle, says the Ministry of Foreign Affairs in an official statement. The statement reads that, "Bangladesh is closely following the developments in the Taiwan Strait and urges all parties concerned to exercise utmost restraint and...
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Bangladesh will be able to export 99% of its products to China without any duty, State Minister of Foreign Affairs Shahriar Alam has said.
A bilateral meeting between Foreign Minister Dr AK Abdul Momen and Chinese Foreign Minister Wang Yi was held in Dhaka on Sunday (August 7). Both sides discussed bilateral, regional and global issues in the meeting with a hope to "elevate" the relationship between the two countries to a "new level".
"Chinese Foreign Minister said that his country will give Bangladesh another 1% duty-free facility in the case of Bangladeshi goods exports. Bangladesh will be able to export 99% of its exports to China duty-free," State Minister of Foreign Affairs Shahriar Alam said briefing the media after the meeting.
The facility will be effective from 1 September this year, the minister added.
Bangladesh and China have signed a total of four memoranda of understanding (MoUs) with the aim to boost bilateral cooperation. Disaster management, cultural exchange (renewal) and marine science cooperation are among the signed documents. Chinese Ambassador Li Jiming and high-level Bangladesh government officials inked the agreements during an event held in Pan Pacific Sonargaon Hotel, Dhaka, on Sunday.
Chinese Foreign Minister Wang Yi has appreciated Bangladesh's position on "One-China" policy and laid emphasis on joint collaboration in the future, reports UNB.
Shahriar Alam said the Chinese Foreign Minister is pleased to see Bangladesh's socioeconomic progress under the leadership of Prime Minister Sheikh Hasina. State Minister for Foreign Affairs Md Shahriar Alam added that the Chinese side said they are committed and they will remain committed and will do their best to find the solution to the Rohingya crisis.
Chinese Foreign Minister Wang Yi came to Dhaka on a less than 24 hours trip to discuss bilateral, regional and global issues with Bangladesh leadership.
Agriculture Minister Muhammad Abdur Razzaque received the Chinese foreign minister at Hazrat Shahjalal International Airport around 5pm on Saturday (6 August).
Minister Wang left for Mongolia wrapping up his less than 24 hours visit to Bangladesh on Sunday. Foreign Minister Momen saw Wang off at the airport.
www.tbsnews.net
A bilateral meeting between Foreign Minister Dr AK Abdul Momen and Chinese Foreign Minister Wang Yi was held in Dhaka on Sunday (August 7). Both sides discussed bilateral, regional and global issues in the meeting with a hope to "elevate" the relationship between the two countries to a "new level".
"Chinese Foreign Minister said that his country will give Bangladesh another 1% duty-free facility in the case of Bangladeshi goods exports. Bangladesh will be able to export 99% of its exports to China duty-free," State Minister of Foreign Affairs Shahriar Alam said briefing the media after the meeting.
The facility will be effective from 1 September this year, the minister added.
Bangladesh and China have signed a total of four memoranda of understanding (MoUs) with the aim to boost bilateral cooperation. Disaster management, cultural exchange (renewal) and marine science cooperation are among the signed documents. Chinese Ambassador Li Jiming and high-level Bangladesh government officials inked the agreements during an event held in Pan Pacific Sonargaon Hotel, Dhaka, on Sunday.
Chinese Foreign Minister Wang Yi has appreciated Bangladesh's position on "One-China" policy and laid emphasis on joint collaboration in the future, reports UNB.
Shahriar Alam said the Chinese Foreign Minister is pleased to see Bangladesh's socioeconomic progress under the leadership of Prime Minister Sheikh Hasina. State Minister for Foreign Affairs Md Shahriar Alam added that the Chinese side said they are committed and they will remain committed and will do their best to find the solution to the Rohingya crisis.
Chinese Foreign Minister Wang Yi came to Dhaka on a less than 24 hours trip to discuss bilateral, regional and global issues with Bangladesh leadership.
Agriculture Minister Muhammad Abdur Razzaque received the Chinese foreign minister at Hazrat Shahjalal International Airport around 5pm on Saturday (6 August).
Minister Wang left for Mongolia wrapping up his less than 24 hours visit to Bangladesh on Sunday. Foreign Minister Momen saw Wang off at the airport.
More Bangladeshi products to get duty-free access in China
Chinese Foreign Minister Wang Yi has said that his country will continue support to Bangladesh's development
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China is going to establish an economic and industrial zone at Chattogram's Anowara upazila.
A Memorandum of Understanding was signed between Bangladesh Economic Zones Authority (BEZA) and China Road and Bridge Corporation to this regard on Thursday (11 August).
Shaikh Yusuf Harun, executive chairman of the Bangladesh Economic Zone Authority (Beza) told The Business Standard, "We want to build a Chinese Economic Zone. Earlier we had signed a G2G agreement with China. The Chinese government then engaged China Harbour Engineering Company Ltd. The Chinese government has now changed that company and assigned China Road and Bridge Corporation for the project."
He said that the zone has access to water transportation and the site is suitable for export oriented industries due to proximity of largest sea port of Bangladesh.
The economic zone is expected to create employment for 30,000 people, he added.
Chinese government expressed interest in building the economic zone while Prime Minister Sheikh Hasina visit China in 2014.
According to sources, China's investment in this economic zone will be 100%.
China to begin work on economic zone in Ctg soon
China will soon begin work on developing an economic and industrial zone in Chattogram's Anowara upazila. To this end, a memorandum of understanding was signed between Bangladesh Economic Zones Authority (Beza) and China Road and Bridge Corporation on Thursday. Shaikh Yusuf Harun, executive...
