The current diplomatic visit by Chief Adviser Muhammad Yunus to China goes beyond the usual scope of maintaining bilateral relations as it has extensive implications when it comes to boosting our economy especially in the context of its current situation.
According to reports, the key point behind the visit is to boost Chinese investment in Bangladesh with the green energy sector being cited as one of the more prominent examples -- the world's largest Chinese solar panel manufacturer, Longi, has shown great interest in setting up a factory in Bangladesh, reportedly.
The growth in foreign direct investment has indeed slowed down in the past few years and the political instability experienced in the aftermath of the previous government’s downfall has often been cited as a reason behind investor hesitation. While the prevailing law and order situation in Bangladesh is still quite inadequate, it has indubitably improved in recent times, and diplomatic visits such as the Chief Adviser’s China visit are instrumental in showcasing Bangladesh as the vibrant investor destination it has been for decades.
On matters of trade, the Chief Adviser rightfully points towards Bangladesh’s geographical significance and we cannot help but agree with him in expressing that South Asian nations stand to gain a lot by building a joint economy based on that premise.
However, such diplomatic visits must look beyond trade and commerce. There has been a decided void in foreign aid when it comes to some of the most pressing issues facing Bangladesh today, chief among them being the Rohingya crisis. Given that the Western world has slowly been backpedaling on its foreign development ambitions, the field is open for a country of China’s scope to fill that void.
Looking East has never been more important to Bangladesh as it is now.
According to reports, the key point behind the visit is to boost Chinese investment in Bangladesh with the green energy sector being cited as one of the more prominent examples -- the world's largest Chinese solar panel manufacturer, Longi, has shown great interest in setting up a factory in Bangladesh, reportedly.
The growth in foreign direct investment has indeed slowed down in the past few years and the political instability experienced in the aftermath of the previous government’s downfall has often been cited as a reason behind investor hesitation. While the prevailing law and order situation in Bangladesh is still quite inadequate, it has indubitably improved in recent times, and diplomatic visits such as the Chief Adviser’s China visit are instrumental in showcasing Bangladesh as the vibrant investor destination it has been for decades.
On matters of trade, the Chief Adviser rightfully points towards Bangladesh’s geographical significance and we cannot help but agree with him in expressing that South Asian nations stand to gain a lot by building a joint economy based on that premise.
However, such diplomatic visits must look beyond trade and commerce. There has been a decided void in foreign aid when it comes to some of the most pressing issues facing Bangladesh today, chief among them being the Rohingya crisis. Given that the Western world has slowly been backpedaling on its foreign development ambitions, the field is open for a country of China’s scope to fill that void.
Looking East has never been more important to Bangladesh as it is now.
