Bangladesh and China will discuss ways this month to have further concrete measures to bolster bilateral trade, widen economic cooperation and boost investment flow, eying mutual benefits by reducing the bilateral trade imbalance.Both sides will hold the 14th session of the Bangladesh-China Joint Commission on Economic and Trade Cooperation (JEC) on August 22 with focus on specific issues relating to bilateral trade, economic assistance, investment and mutual cooperation.Chinese Vice Minister of Commerce Gao Yan will be here to co-chair the 14th JEC meeting with her Bangladesh counterpart Economic Relations Division (ERD) Senior Secretary Mohammad Mejbahuddin, an ERD official told UNB.The official said the meeting will review the progress of implementing the decisions of the last JEC meeting held at Kunming in China on June 4, 2014.
Vice Minister of Commerce Gao Yan and ERD Senior Secretary Mohammad Mejbahuddin co-chaired the 13th Session of China-Bangladesh Trade and Economic Joint Committee in Kunming, Yunnan Province.As the second biggest economy of the world, China is keen to share its experience and advanced technology with Bangladesh, to provide finance, technology and training personnel to Bangladesh without reservation to expedite industrialisation here, said a diplomatic source.China is also willing to help improve the skill of the labour force in Bangladesh so as to create more jobs and strengthen the inner impetus of Bangladesh sustainable development, the source said.China has provided numerous assistances to support Bangladesh’s economic and social progress, including the seven China-Bangladesh Friendship Bridges and Bangabandhu International Convention Center, ERD officials said.Bangladesh and China have recently reached a consensus on the 8th China-Bangladesh Friendship Bridge and China-Bangladesh Friendship Exposition Centre.China will also provide assistance for the renovation of BICC (Bangabandhu International Convention Centre) and donate a batch of medical, disaster relief and agriculture instruments to Bangladesh and is working on a comprehensive plan of flood prevention and promoting hybrid rice technology, said the source.On August 1, Chinese Ambassador to Bangladesh Ma Mingqiang said China is looking for further strengthening its ‘relations and friendship’ with Bangladesh, and discussing ways to make the environment more suitable for stronger bilateral relations.During the 13th JEC meeting, the two parties also had in-depth discussions on jointly building the Silk Road Economic Belt and Marine Silk Road, financing cooperation, economic and technological cooperation and specific projects, and reached a consensus on many fields.The ERD official said they are working now to finalise the agenda of the next meeting of Bangladesh-China Joint Economic Commission (JEC).Asked about the progress of implementation of decisions of the 13th JEC meeting, the official said several projects are now going on with Chinese grants, such as providing simultaneous interpretation equipment to BICC, 8th friendship bridge, friendship exhibition center, hybrid rice, burning unit, food management planning, disaster prevention, container inspection equipment, rescue equipment, agricultural equipment, medical equipment and dredger.He also informed that the prospects of Chinese cooperation may be in the areas of water-related disaster management, river management, environmental protection and restoration, technology transfer and training programme.About the Chinese side’s willingness expressed in the last JEC meeting to sign a Note of Understanding (NoU) regarding the Silk Belt and twenty first century maritime route to further strengthen the cooperation among the BCIM countries, the ERD official said the ERD is yet to receive any official proposal in this regard.The official said delegates from the countries are likely to focus on their economic situation and ways to develop bilateral trade cooperation. “The current status of financial and technical cooperation between the countries will be placed in the upcoming JEC meeting. Besides, the two sides will also discuss about increasing investment areas and volume,” he added.According to statistics available, the trade volume between the two countries reached US$ 14.7 billion in 2015.
source:UNB
