The Bangladesh-China relationship has reached new heights.
With India already an ally in development, the newly signed deals with China put Bangladesh in a unique strategic triangulation in the region.
The development of smaller Asian economies like Bangladesh is not possible without cooperation with both China and India. However, it does not bode well for Bangladesh to remain hostage to Indian policy either.
China’s expanded role in Bangladesh’s future, then, will provide a positive counter-balance and improve peace and stability in South Asia.
The BCIM economic corridor is crucial. Bangladesh must synergise trade relations with its two bordering neighbours, India and Myanmar, with substantial help from China, and improve communications and coordination.
Much remains to be done on resolving maritime affairs, as well as cracking down on internationally-affiliated terrorism.
The dream of a digital Bangladesh can only be fully realised with proper investment in the ICT sector, which China is willing to make.
Another area where cooperation is necessary is the blue economy -- maritime disputes must be resolved peacefully and to mutual gain.
Although the Chinese economy is much larger than Bangladesh’s, our two nations have much in common, particularly in the dynamism of our exporting sector.
Chinese investment in Bangladeshi textiles, small parts, and accessories will energise our manufacturing sector, and our export volume to China could very well more than double in the next two or three years.
We will get there. It is a sign of hope that Bangladesh and China are calling the year 2017 the year of exchange and friendship.
As long as we don’t lose focus, we are well on track to reaching middle income status by 2021.
