Bilateral Boost: Bangladesh and China Sign Trade and E-Commerce Agreements
The Ministries of Commerce of Bangladesh and China have signed two memoranda of understanding (MoUs) to establish a Joint Working Group for expanding free trade and to enhance cooperation in e-commerce. The agreements were signed by Bangladesh’s Commerce Adviser Sheikh Bashiruddin and China’s Commerce Minister Wang Wentao.
The signing ceremony took place on Saturday afternoon, May 31, at the InterContinental Hotel in Dhaka.
Prior to the signing, Sheikh Bashiruddin held a bilateral meeting with the Chinese delegation led by Minister Wang Wentao. The Chinese delegation included China’s Ambassador to Bangladesh Yao Wen, Director General of Outward Investment and Economic Cooperation of China’s Ministry of Commerce, Director General of the Department of Asian Affairs, and others. Bangladesh’s delegation included the Commerce Secretary, Industry Secretary, Agriculture Secretary, and Chairman of the Bangladesh Trade and Tariff Commission.
During the meeting, discussions focused on strengthening trade, investment, and technological cooperation between the two countries. Both sides expressed optimism that economic relations between China and Bangladesh would deepen further in the future. Sheikh Bashiruddin also requested Chinese assistance in drone technology for the agriculture sector. He expressed hope that this support would play a crucial role in enhancing trade and technological collaboration between the two nations.
Emphasizing the importance of increasing drone technology usage in Bangladesh’s agriculture, Sheikh Bashiruddin said, “Through drone technology, it is possible to revolutionize fertilizer application, seed sowing, pesticide spraying, and crop monitoring. China’s experience and technology can play a vital role in Bangladesh’s agriculture sector.”
China’s Commerce Minister Wang Wentao expressed interest in expanding technological and investment cooperation with Bangladesh, stating, “China is ready to assist Bangladesh in agriculture and digital technology. We can particularly collaborate to enhance productivity through smart agriculture and drone technology.”
Sheikh Bashiruddin also highlighted the untapped potential of Bangladesh’s vast maritime area, saying that due to the lack of modern fishing vessels and technology, the sector has not been fully utilized. He added that increasing deep-sea fishing and processing capabilities with China’s assistance would boost export earnings and create employment opportunities.
Requesting support for fishing vessels and technology, Sheikh Bashiruddin said, “Bangladesh needs advanced fishing vessels and fish processing technology to develop its marine fisheries sector. China’s experience and technological assistance can strengthen this sector.”
He further emphasized Bangladesh’s demographic advantage, stating, “Despite having a vast coastline, Bangladesh offers comparatively affordable labor. The workforce is skilled and experienced, enabling them to perform efficiently and effectively. Let us invest in this country and contribute to the economic development of both nations.”
The Commerce Adviser expressed expectations for Chinese investments in leather goods, light engineering, agricultural machinery, agro-technology, food processing, and pharmaceuticals.
China’s Commerce Minister also expressed eagerness to enhance cooperation in fisheries and marine resources, stating, “China is ready to provide the necessary support for Bangladesh’s fisheries sector and marine resource extraction.”
Wang Wentao remarked that the diplomatic relations between Bangladesh and China have now surpassed 50 years. Highlighting the continuous growth in bilateral trade, he said, “The Chinese government has implemented several projects that have contributed to Bangladesh’s socio-economic development, especially improving the quality of life for its people.”
It is noted that Wang Wentao arrived in Dhaka on Saturday, May 31, leading a delegation of businesspeople and investors for a three-day visit.
