China and Japan have asked Bangladesh to join their separate mega connectivity initiatives to boost trade and investment in Asia.
“Both the countries asked Bangladesh to join their separate initiatives,” said a senior official of the Foreign Ministry.
Beijing is pursuing a “One Belt, One Corridor” initiative to revive the old Silk Road and new maritime route while Tokyo has floated a Bay of Bengal Industrial Growth Belt (BIG-B) initiative to connect the coastal countries to expand Japan’s trade.
The BIG-B Initiative was proposed at the summit talk by Japanese Prime Minister Shinzo Abe to his Bangladesh counterpart Sheikh Hasina in Tokyo in May.
During the official talks with Hasina in Beijing in June, Chinese Prime Minister Li Keqiang also proposed that Bangladesh join the One Belt, One Corridor initiative.
“Our officials are in touch with the officials of Japan and China to know more about the initiatives and how Bangladesh can fit in,” the official said.
The countries have yet to share the concept papers of the initiatives, he added.
BIG-B initiatives
The proposed BIG-B initiative is a strategic concept of Japan’s cooperation with other countries, said the Japanese embassy in Dhaka.
“BIG-B is stated as the vision of future cooperation along with the current comprehensive ODA of Japan,” it said through an email.
During his visit to Dhaka in June, Jica President Akihiko Tanaka talked about the concept of BIG-B.
The BIG-B has three pillars – trade and industry, energy and transportation, Tanaka said.
“Bangladesh can provide a gateway to the ocean for Bengal regional economies and play a nodal role between Southeast Asia and South Asia,” he said.
Bangladesh and Jica jointly identified Matabari, located 60km south of Chittagong, as the tipping point for carrying out the BIG-B initiative, Tanaka said.
Jica will provide $406 million to build the 1200mw Matarbari Ultra Super Critical Coal-Fired Power project with the country’s first deep sea port for coal imports.
However, when contacted, another senior Foreign Ministry official said the government has yet to examine the potential of the initiative.
“Japan has yet to share the concept paper with us. Unless we get it, we are not in a position to make any comments,” he said.
During Prime Minister Sheikh Hasina’s visit to Tokyo in May, the Japanese government pressed for a mention of the initiative in the joint statement which was issued, but Dhaka refused.
“We refused their proposal as the whole issue is still not clear to us,” said the official.
One Belt, One Corridor initiative
Under the initiative, China has taken a two-pronged approach – one is through land and rail, and the other through sea routes – to boost connectivity in the region.
“They wanted to revive the old Silk Road,” said a Foreign Ministry official.
In addition to that, China has taken the 21st Century Maritime Silk Route, which will connect China with other coastal countries along the Indian and Pacific oceans, he said.
“Both the initiatives are jointly called One Belt, One Corridor,” he added.
Chinese officials discussed the issue with Prime Minister Hasina during her visit to China this month, the official said.
Like Japan, China also wanted to mention the One Belt, One Corridor issue in the joint statement issued during Hasina’s visit to Beijing in June, but Dhaka refused.
“We are open to all connectivity initiatives as long as it brings a good impact to Bangladesh,” he said.
Bangladesh joined the BCIM EC (Bangladesh, China, India and Myanmar Economic Corridor) initiative as it has an immense impact on the socio-economic condition of the country, he added.
“We will continue to negotiate with Japan and China about our joining their initiatives,” the official said.
