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Bangladesh, China to sign MoU on investment

  • Published at 12:40 am October 9th, 2016

President Xi Jinping is scheduled to arrive in Dhaka on October 14 on a two-day visit. Dhaka is expected to seek financial assistance for more than 22 of its large projects. Bangladesh officials said the duration of the proposed deal will be two years and is aimed at promoting investment. Any of the countries can withdraw itself from the deal after informing the authorities concerned six months prior to such withdrawal, officials said. Bangladesh’s foreign ministry sought opinion from commerce ministry on the issue and already received comments in favour of the deal. Under the proposed MoU, China will invest in the sectors like infrastructure, energy, power, transports and economic zones. The Chinese delegation team will talk to the Bangladesh authorities about the investment of 22 China-funded projects including Bangladesh Garment Industrial Park, Padma Bridge Rail Link project, construction of the Multi-Lane Road and Highway Project, Payra seaport, 660 megawatt coal-fired thermal power plant and establishment of five TV stations in Bangladesh. The Chinese authorities will discuss about the concessional funds for Bangladesh under the MoU. If the question arises, both parties will friendly negotiate the matters through diplomatic channels, according to the proposals. On August 21, Road Transport and Bridges Minister Obaidul Quader in Chittagong said Prime Minister Sheikh Hasina and Chinese President Xi Jinping would jointly inaugurate the work on the tunnel beneath the Karnaphuli river on a day between October 10 and 13. At the end of Dhaka visit, the Chinese President will leave for India to attend the BRICS Summit.