Economy
Dhaka’s interest to join BRICS: Beijing assures its support
Chinese Vice Minister for Foreign Affairs Sun Weidong has appreciated Bangladesh’s interest in joining BRICS and assured of China’s active support.
During the 13th round of bilateral political consultations between Bangladesh and China held in Beijing on 3 June, both parties agreed to work jointly for the upcoming visit of Prime Minister Sheikh Hasina to China next month.
Foreign Secretary Masud Bin Momen led the Bangladesh delegation, while the Vice Minister for Foreign Affairs Sun Weidong led the Chinese side.
The Bangladesh delegation comprised of Ambassador of Bangladesh to China Jashim Uddin, Additional Secretary of ERD Anwar Hossain and officials from the Foreign Ministry and Bangladesh Embassy in China.
Officials from the Foreign Ministry of China were present on the other side.
The consultations focused on consolidating bilateral relations, enhancing economic ties, promoting trade and investment and exploring opportunities for cooperation in a multilateral platform, according to the Ministry of Foreign Affairs.
The Chinese vice minister underscored the importance of high-level exchanges and people-to-people connectivity.
He conveyed China’s willingness to work together to import mangoes and other agricultural products from Bangladesh and to assist the youth in their skill development. The Chinese side assured that it would expedite the repatriation of the Rohingyas sheltered in Bangladesh.
Weidong mentioned that the two countries’ embassies in Dhaka and Beijing may work together to celebrate 50 years of diplomatic ties between the two countries.
Foreign Secretary Masud mentioned that Bangladesh attaches significant importance to its relations with China, which are based on shared values, mutual respect, and common aspirations.
He recalled the visit of the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, to China in 1952 and 1957 and expected the book “The New China as I saw” to be published in Chinese before the upcoming VVIP visit.
The foreign secretary highlighted President Xi Jinping’s visit to Bangladesh in 2016, which elevated the relationship to “Strategic Partnership of Cooperation.”
Bangladesh’s foreign secretary thanked China for their support in infrastructural development, which includes several mega projects.
He explained Bangladesh’s growing economy and sought China’s support to facilitate the existing structure of Duty-Free Quota-Free (DFQF) access to Bangladeshi products in China.
Masud emphasised global cooperation to overcome challenges like pandemics, climate change, etc.
He expressed expectations for China’s continued support for the safe and voluntary repatriation of the Rohingyas sheltered in Bangladesh to their homeland.
Chinese Vice Minister Weidong welcomed the Bangladeshi delegation and expressed his deepest sympathy for the damage caused by the recent cyclone “Remal.”
He congratulated the prime minister of Bangladesh on her re-election in the national election on 7 January and hoped that under her capable leadership, the Bengali nation would fulfil the dream of “Sonar Bangla.”
He recalled the Bangladesh prime minister’s visits to China since 2010 and her discussion with the Chinese president during last year’s BRICS summit.
The two sides agreed to hold the next bilateral political consultations between the two foreign ministries next year in Dhaka.
The Kazipara and Mirpur-10 metro stations, which have been closed, are expected to reopen by the end of September, though the exact date has not yet been confirmed. Mohammad Abdur Rauf, Managing Director of Dhaka Mass Transit Company Limited (DMTCL), told TBS that a technical team has been tasked with resolving the issues at the stations.
“We are working to reopen the two stations within this month, but I cannot give a specific launch date yet. We will hold a meeting with the technical team and other stakeholders soon to review the progress. A decision is likely on 18 September,” Rauf said.
He noted that Kazipara station is likely to open earlier due to less severe damage, while Mirpur-10 may face delays as it requires machinery that needs to be imported.
Additionally, Rauf mentioned plans to begin metro rail operations on Fridays starting from 20 September, with efforts being made to meet this timeline.
Dr. Muhammad Yunus, the Chief Adviser of the interim government, has announced the formation of six commissions as an initial step toward reforms, including constitutional amendments. These commissions are expected to begin operations on 1 October and complete their work within three months.
In an address to the nation on Wednesday evening (11 September) from the Chief Adviser’s Office, Yunus outlined the government’s reform agenda. This is his second national address since taking office on 8 August.
Yunus explained that the formation of the six commissions is the first step in a broader plan for constitutional reform. He stated that the commissions would be led by six distinguished citizens, selected based on their expertise. These commissions will tackle various reform areas, and more will be established in the future.
Emphasizing the importance of constitutional reforms for free and fair elections, Yunus stated, “We believe that imposing majority rule through elections, resulting in misgovernance or consolidating all power into the hands of one person, family, or group, is unacceptable. To prevent this, we are considering reforms to institutions like the Election Commission and others involved in the election process. Reforming the police administration, civil service, judiciary, and Anti-Corruption Commission is essential for ensuring fair and transparent elections. These reforms will also contribute to establishing a state system based on public ownership, accountability, and welfare.”
Yunus announced the names of the six commission heads:
- Dr. Badiul Alam Majumdar will lead the Election System Reform Commission.
- Sarfaraz Chowdhury will head the Police Administration Reform Commission.
- Justice Shah Abu Naeem Mominur Rahman will lead the Judiciary Reform Commission.
- Dr. Iftekharuzzaman will lead the Anti-Corruption Reform Commission.
- Abdul Muid Chowdhury will head the Public Administration Reform Commission.
- Dr. Shahdeen Malik will lead the Constitutional Reform Commission.
The Chief Adviser mentioned that the other members of these commissions would be determined in consultation with the heads. Additionally, representatives from the advisory council, students, workers, social movements, civil society, and political parties will participate in the commissions’ discussions.
Yunus expressed hope that the commissions would be fully operational by 1 October and complete their work within three months. Based on the commissions’ reports, the government plans to organize consultations with major political parties. A broad consultation, lasting three to seven days, involving students, civil society, political party representatives, and the government will follow. This consultation will finalize the reform framework and outline its implementation strategy.
Yunus concluded by stating that this initiative will unify the nation, fulfilling the demands of the July uprising and strengthening the country with renewed hope and optimism.
The Foreign Investors’ Chamber of Commerce and Industry (FICCI) has urged the Bangladesh government to implement a more investment-friendly tax structure to enhance foreign investor confidence.
During a meeting on Wednesday (11 September) with the newly appointed chairman of the National Board of Revenue (NBR), Abdur Rahman Khan, FICCI leaders highlighted the need for comprehensive tax reforms that would position Bangladesh as a more attractive destination for foreign direct investment (FDI) and strengthen the national economy.
Zaved Akhtar, President of FICCI, stressed the significance of fully digitising NBR operations, particularly by advancing automation systems to maximise revenue collection, as outlined in the chamber’s press release.
The delegation also recommended the establishment of a dedicated research unit within the NBR to broaden the tax base and increase revenue through in-depth market analysis, identifying gaps between market share and revenue generation.
NBR Chairman Abdur Rahman Khan acknowledged the importance of automation in stimulating economic progress and welcomed FICCI’s research findings on the taxation landscape.
FICCI’s delegation included Senior Vice President Eric M. Walker, other board members, and senior officials from member companies, alongside key officials from the NBR.
