Economy
Bangladesh, China Sign 21 Instruments, Announce 7 Projects to Strengthen Ties on Diverse Fronts
7 projects announced:
- China-Bangladesh Free Trade Agreement
- China-Bangladesh Bilateral Investment Treaty
- Digital Connectivity project
- Double Pipe Line project
- Rajshahi WASA Surface Water Treatment Plant
- MoU between Shandong Agricultural University and Bangabandhu Sheikh Mujibur Rahman Agricultural University, Gazipur.
- Luban Workshop in Bangladesh
Bangladesh and China signed 21 instruments today (10 July), including three renewed Memorandums of Understanding (MoUs), and announced seven additional projects to elevate their relationship from a “strategic partnership” to a “comprehensive strategic cooperative partnership.”
The instruments were inked in the presence of Bangladesh Prime Minister Sheikh Hasina and her Chinese counterpart Li Qiang after the delegation-level talks between the two countries at the Great Hall of the People, Beijing.
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Earlier, the Bangladesh prime minister was accorded a red-carpet reception as she reached the Great Hall of the People to have a bilateral meeting with her Chinese counterpart Li Qiang.
On her arrival at the premises of the Great Hall of the People, the prime minister was received by the Chinese premier.
The bilateral talks mainly featured Rohingya issue, business, trade and commerce, investments, and bilateral relations alongside various regional and international matters.
After the delegation-level meeting, the Bangladesh prime minister along with her Chinese counterpart witnessed the exchange of the documents.
The instruments on cooperation in the economic and banking sector, trade and investment, digital economy, infrastructure development, assistance in disaster management, construction of 6th and 9th Bangladesh-China friendship bridges, export of agricultural products from Bangladesh and people to people connectivity were signed.
Among the instruments, Bangladesh Sangbad Sangstha (BSS) Managing Director and Chief Editor Abul Kalam Azad signed a MoU with the China Media Group (CMG) and an Agreement with the Xinhua News Agency.
The signed instruments are:
1. The MoU on Strengthening Investment Cooperation in the Digital Economy.
2. The MoU on Banking and Insurance Regulatory between China National Financial Regulatory Administration (NFRA) and Bangladesh Bank.
3. A Protocol of Phytosanitary Requirements Export of Fresh Mangoes from Bangladesh to China.
4. The MoU on Exchange and Cooperation in the field of Economic Development Policy.
5. The MoU on Trade and Investment Cooperation.
6. The MoU on Strengthening Digital Economy Cooperation.
7. Signing of Minutes of Discussions on the Feasibility Study of the China-aid National Emergency Operation Center in Bangladesh Project.
8. Exchange the Letter on the China-aid 6th Bangladesh-China Friendship Bridge Renovation Project.
9. Exchange the Letters on the Feasibility Study of China-aid Construction of Nateshwar Archaeological Site Park in Bangladesh Project.
10. Exchange the Letters on the China-aid 9th Bangladesh-China Friendship Bridge Project.
11. The MoU on Strengthening the Cooperation in Medical Care and Public Health.
12. The MoU on Strengthening the Infrastructure Cooperation.
13. The MoU on Cooperation on Green and Low-Carbon Development.
14. Renewing the MoU on Provision of Hydrological Information of the Yaluzangbu/ Brahmaputra River in Flood Season by China to Bangladesh.
15. The MoU between National Radio and Television Administration and the Ministry of Information and Broadcasting of Bangladesh.
16. The MoU between the China Media Group (CMG) and Bangladesh Sangbad Sangstha (BSS).
17. The MoU between the China Media Group (CMG) and BTV.
18. An Agreement between the Xinhua News Agency and BSS.
19. An Agreement between the Xinhua News Agency and BTV.
20. Renewing the MoU between the Ministry of Education of China and the Ministry of Education of Bangladesh.
21. The MoU Regarding Public-Private Partnership for Sustainable Infrastructure Development.
7 announced projects are:
1. Announcement of the Conclusion of Joint Feasibility Study on China-Bangladesh Free Trade Agreement.
2. Announcing the commencement of negotiation on the Optimization of China-Bangladesh Bilateral Investment Treaty.
3. Announcing the completion of the Modernization of Telecommunication Network for Digital Connectivity project.
4. Announcing the completion of trial run of the Single Point Mooring with Double Pipe Line project.
5. Announcing the commencement of Rajshahi WASA Surface Water Treatment Plant.
6. Signing the MoU between Shandong Agricultural University and Bangabandhu Sheikh Mujibur Rahman Agricultural University, Gazipur.
7. Announcing the construction of Luban Workshop in Bangladesh.
Chief Adviser Prof Muhammad Yunus on Thursday paid tribute to the Armed Forces Division by placing a floral wreath at its headquarters.
Prof Yunus, who visited the division as part of his official duties, laid the wreath to honor the sacrifices and dedication of the members of the Armed Forces.
Following the wreath-laying ceremony, he signed the visitor’s book.
Chief Election Commissioner (CEC) Kazi Habibul Awal, along with four other election commissioners, announced their resignation during a press conference today at the Election Commission (EC) building. The resignation follows growing speculation and pressure.
CEC Awal stated, “In this changed situation, I and other commissioners have decided to step down. We’re handing over our resignation letters to the EC Secretary to send it to the President.” After submitting the letters, the CEC and some commissioners quickly left the premises, with no clear explanation for the absence of two election commissioners.
The resignations come amid increasing unrest tied to the registration of political parties such as Nagarik Oikya and Gono Odhikar Parishad. Sources revealed the CEC felt unsafe due to aggressive behavior from activists, prompting the decision to step down.
Protesters outside the EC building hurled shoes at vehicles carrying Election Commissioners Rashida Sultana, Md Alamgir, and Anisur Rahman as they left. Meanwhile, preparations for their exit had already been underway, with the commissioners reportedly relocating personal belongings from their offices.
The commission, appointed in February 2022 for a five-year term, had previously expressed confusion over demands for their resignation, maintaining they had conducted fair elections. However, internal discussions led to the collective decision to resign earlier than expected.
The government will now purchase LNG from the international spot market through open tender instead of negotiation.
Cabinet Committee on Economic Affairs (CCEA) in a meeting on Wednesday in principle approved a proposal in this regard.
Adviser of the interim government for Finance Dr. Salehuddin Ahmed, who presided over the meeting, said that the government will procure LNG through open tender.
The Energy and Mineral Division of the Ministry of Power, Energy and Mineral Resources placed the proposal where it sought approval to import LNG from 23 listed companies in the international spot market.
The adviser said that though such 23 companies were enlisted by the previous Awami League government and signed Master Sales and Purchase Agreement, they will remain unchanged.
He said that instead of applying the Speedy Increase of Energy and Power Supply (Special) Act 2010, the interim government will follow the Public Procurement Rules 2008 to ensure the competitive bidding process.
“We don’t want to change them as we wanted to import LNG quickly, ensuring proper competition among the suppliers,” he told reporters.
Committee also approved another proposal in principle to sign a contract to import urea fertiliser for the 2024-25 fiscal year from Fertiglobe Distribution Limited, UAE, on a G-to-G basis.
Meanwhile, the Cabinet Committee on Government Procurement (CCGP) in a meeting, presided over by the Adviser for Finance, approved 3 proposals for import of lentil and fertiliser.
As per the proposal, the Trading Corporation of Bangladesh will procure 10,000 metric tons (MT) of lentil from local firm Sahara Enterprise at a cost of Tk 98.20 crore with each kg priced at Tk 98.20.
The Commerce Ministry which moved the proposal on behalf of the TCB in the meeting mentioned in the proposal that the supplier firm was selected through open tender.
The CCGP approved two separate proposals of the Industries Ministry under which Bangladesh Chemical Industries Corporation will import 30,000 MT of bulk granular urea fertiliser from Fertiglobe Distribution Limited, UAE, under state to state contract at a cost of Tk 121.48 crore.
Each metric ton of fertiliser will cost $343.17.
Another 30,000 MT of bagged granular urea fertiliser will be procured from the local Karnaphuli Fertilizer Company Limited (Kafco) at a cost of Tk 116.99 crore with each metric ton costing $330.50.
