Economy
Envoy says China, a trustworthy neighbor to Bangladesh
Bangladesh on Friday (8 September) reaffirmed its strong and enduring partnership with China, describing China as a dependable neighbor, close friend, and collaborative ally in Bangladesh’s path to modernization. This declaration was made during the inauguration of the “Belt and Road Initiative in Bangladesh Exhibition 2023” in the city, where the Chinese envoy delivered a keynote address emphasizing the commitment to bolster economic and trade relations between China and Bangladesh.
The envoy expressed optimism that, under the Belt and Road Initiative, the relationship between the two nations would ascend to new heights and usher in a fresh era of friendly collaboration. Notably, this year marks the 10th anniversary of the Belt and Road Initiative, with Bangladesh having been the first South Asian country to join this initiative.
The Chinese envoy extended gratitude to the Bangladesh China Chamber of Commerce and Industry and the Chinese Enterprise Association for orchestrating this event. He underscored the significance of this exhibition, which vividly showcases the achievements of the Belt and Road Initiative in Bangladesh, serving as a platform for cooperation between Chinese and Bangladeshi enterprises. Moreover, this exhibition is a gesture commemorating the 74th anniversary of the Founding of the People’s Republic of China.
The “Belt and Road Initiative in Bangladesh Exhibition 2023” is a premium exhibition that features leading companies from both China and Bangladesh. It is scheduled from September 8th to 10th, 2023, at the Bangabandhu Bangladesh – China Friendship Exhibition Center in Purbachal, running from 10:30 AM to 7:00 PM. The event is a collaborative effort involving the Embassy of China in Bangladesh, the Bangladesh China Chamber of Commerce and Industry (BCCCI), and the Chinese Enterprise Association (CEAB).
The exhibition encompasses various activities, including seminars, workshops with government departments, forums for dialogue between Chinese and Bangladeshi businesses, job fairs, and business meetings. Among the exhibitors are 15 Chinese companies with their South Asian regional headquarters in Bangladesh, nearly 20 other prominent Chinese companies actively operating in the Bangladesh market, and several prominent Bangladeshi companies and banks.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
