Yunus, Xi discuss expanding economic ties; Chinese president assures support to Bangladesh's interim govt

Beijing/Dhaka: President Xi Jinping on Friday assured China's support for Bangladesh's interim government, expanding economic ties by relocating manufacturing enterprises to that country and allowing duty-free access to its products, officials said.

Bangladesh's Chief Adviser Muhammad Yunus' Press Secretary Shafiqul Alam made these remarks while briefing reporters after a bilateral meeting between Xi and Yunus at the Great Hall in Beijing on Friday.

During the meeting, Xi said Beijing would consider positively a host of important issues raised by Bangladesh.

Yunus, on a four-day visit to China, took part in the country's Boao Forum for Asia Annual Conference in Hainan after his arrival there on Wednesday. He arrived in Beijing on Thursday and was received at the airport by Chinese Vice Foreign Minister Sun Weidong.

Xi has assured that his country would encourage Chinese investment and relocation of Chinese manufacturing enterprises to Bangladesh, Alam said.

"It was a huge successful bilateral meeting," Alam told reporters in China.

Alam explained that their talks were “comprehensive, fruitful and constructive, marked by warmth”.

President Xi reiterated China's support to the Chief Adviser and his interim government, Alam said.

The press secretary said it was Yunus's first bilateral foreign tour, and so far, it has been a "grand success”.

President Xi spoke about his two tours to Bangladesh and said he studied microcredit when he was the governor of Fujian province, Alam said.

The Chinese President also said he tried Bangladeshi mangoes and jackfruit as “they are delicious. Bangladesh is expected to export the two fruits to China in a big way in the coming months”.

The meeting was held at People's Great Hall where they discussed various strategic bilateral issues, trade and investment growth, agriculture, infrastructure, support for renewable energy sectors, and resolving the Rohingya issue, as well as overall issues of mutual interest between the two countries, eyeing a new chapter in relations.

According to the officials, Dhaka secured a Chinese commitment for Bangladesh to enjoy duty-free and quota-free access to its market until 2028 as Xi reiterated China's support to the chief adviser and his interim administration.

The meeting came a day after China signalled its desire to expand ties with Dhaka in a changed Bangladesh scenario, state-run BSS reported.

On Thursday, Yunus called on China to reduce interest rates for Chinese loans and waive commitment fees on Chinese-funded projects.

In his meeting with the Chinese Executive Vice Premier Ding Xuexiang on the sidelines of the Boao Forum for Asia Annual Conference, Yunus sought Chinese support in an array of development projects, Bangladesh media reports said.

He also called for a reduction of interest rates for Chinese loans from three per cent to 1-2 per cent to Bangladesh and sought a waiver of commitment fees on the Chinese-funded projects in Bangladesh.

China is Bangladesh's fourth-largest lender after Japan, the World Bank and the Asian Development Bank, with total loans disbursed since 1975 coming to USD 7.5 billion, according to a report in the Daily Star newspaper of Bangladesh.

In his meeting with Ding, Yunus sought Beijing's help in facilitating the relocation of the Chinese manufacturing industries, including ready-made garments, electric vehicles, light machinery, high-tech electronics, chip manufacturing and the solar panel industry.

On the sidelines of the forum, Yunus also met Russian Deputy Prime Minister Alexey Overchuk, who expressed Moscow's interest in exporting more wheat and fertiliser to Bangladesh.

"Russia would like to export more wheat and fertiliser to Bangladesh," he said.

During the meeting, the two leaders discussed the operationalisation of the Russia-funded Rooppur Nuclear Power Plant.

Yunus also met former UN Secretary-General Ban Ki-moon, who is the Chairman of the Boao Forum, and sought support and advice for a smooth transition to democracy in Bangladesh.

"We want to start anew; we need your support and advice. We are having a great opportunity now," Yunus was quoted by the daily as saying.

According to BSS, Yunus told the Chinese vice-premier about Bangladesh’s firm support and commitment to the One China policy, adding that Dhaka takes pride in being the first South Asian nation to join China's Belt and Road Initiative.

The Chinese government and its universities would grant more scholarships to Bangladeshi students, Ding said.

Several thousand Bangladeshi students are already studying in Chinese universities.

The vice-premier also assured Chinese funding for purchasing four ocean vessels for the Bangladesh Shipping Corporation.

Ding also said Beijing would foster a dialogue between Bangladesh and Myanmar in an effort to resolve the Rohingya crisis.

Yunus thanked the Chinese leadership for its support, saying the meeting with Xi Jinping was expected to mark another milestone in the ever-deepening Bangladesh-China partnership.

China is currently Bangladesh's largest trading and defence partner, while analysts say Yunus’ visit can prove crucial in view of the evolving political situation in the region and beyond.

Chinese ambassador in Dhaka, Yao Wen, earlier said the chief advisor's visit was expected to be “successful” and “productive”, with “some announcements” anticipated.