The government is buying sophisticated weaponry as part of its initiative to develop a three-dimensional force.
Last week three war ships – two from China and one from the US – were inducted into the navy. Russian made combat training aircraft YAK 130 and maritime search and rescue helicopters were introduced last December. Three hundred APCs will be included in 2017-18 fiscal year.
Bangladesh has bought most of its arms from China in the past but now it is diversifying its procurement sources.
According to Stockholm based International Peace Research Institute (Sipri), in 2004-09 period the government bought arms from seven countries - China, Italy, Russia, Turkey, the UK, Pakistan and Romania.
But in 2010-15, the number rose to 11 with two – Pakistan and Romania - dropped from the list and six more countries – Czech Republic, France, Germany, Serbia, Ukraine and the US – included in the arms procurement country list.
A senior government official said China, Russia, Israel, the UK, the US and some European countries were the major suppliers of weapons worldwide.
Bangladesh traditionally buys bulk amounts of arms from China and there are several reasons behind it.
Relations between political and armed forces, prices, conditions related to payment, loan facilities and other factors dominate the buying decision, the official said.
In addition to that, Bangladesh also buys arms from other sources based on the same considerations.
The official said due to the maritime verdict, Bangladesh now has sovereign authority over a vast area in the Bay of Bengal and it needs to be protected.
The forces in Bangladesh take part in different UN peacekeeping operations and the government also rents equipment to the United Nations.
According to Sipri, during the last couple of years, Bangladesh bought two war ships and machinery from the US, light transport from Serbia and spare parts for helicopters and aircrafts from France and Germany.
Another government official said Bangladesh does not buy arms from Israel, which is one of world's leading arms exporters, and at present it is trying to procure arms from European countries.
Chinese Ambassador Ma Mingqiang at an event last week said two Chinese ships have already been delivered to Bangladesh and three more would be delivered this year.
Asked about the procurement from other countries, he said Bangladesh buys arms according to its own needs.
He, however, said Chinese equipment are good in quality and very competitive in price.