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China invests in Bangladesh to boost its textile sector

Bangladeshi businessmen and international relations experts are hopeful that Gao Hucheng, the Chinese commerce minister’s recent visit to the country would strengthen bilateral relations over the next few months. China granted Bangladesh nearly $100 million to set up an exhibition centre and expressed interest to invest $300 million in the country’s textile sector during. An MoU was signed on Bangladesh-China Friendship Exhibition Center project between AMA Muhith, Bangladesh Finance Minister and the Chinese Commerce Minister.

The grant and proposed investment will prove to be a boon, believe the textile bigwigs. Experts, feel this is another example of Bangladesh’s growing geo-political and economic importance in the region. Purbachal in the outskirts of Dhaka, will see a Bangladesh-China Friendship Exhibition Centre being set up, spread over 33,000 sq. ft. with 800 exhibition booths. China will provide $86.76 million to Bangladesh as grant of the total cost of the project, which is $102.2 million.

Abul Maal Abdul Muhith, Bangladesh Finance Minister said the Chinese government wants to increase regional connectivity, by constructing roads from Myanmar to Kunming through Bangladesh. Nearly 23 km of the proposed international road from Myanmar to Kunming would be built by Bangladesh under the Bangladesh-Myanmar friendship road project as a gesture by Bangladesh to China, he added.