Experts urge business community to exploit Chinese pvt sector offer

Experts and diplomats termed the Chinese President Xi Jinping's recent Dhaka visit a "historic one" and urged the policymakers and entrepreneurs to exploit the business opportunities offered by the Chinese private sector to make the country a middle income nation.
"Yes, it has open up a new era of cooperation between the two countries, however, the policymakers should make a platform to tap it and the entrepreneurs should be ready to take the opportunity through developing its project-manpower and ability to handle huge amount of credit in proper manner," said Dr Delwar Hossain, Professor of International Relations of Dhaka University.
He said the Chinese private sector offered a US$ 13.6 billion package to the Bangladeshi business community. "Get prepared in the next one year as both the countries will start the real job by that time," he added.
The Chinese newspapers said the visit, the first by a Chinese head of state to the South Asian country in three decades, heralds a new era of cooperation between the two countries, which established contact through ancient silk routes more than 2,000 years ago.
During his meeting with Prime Minister Sheikh Hasina on Friday, Xi said the closer comprehensive partnership of cooperation the two sides forged in 2010 has yielded fruitful results, with bilateral cooperation advancing steadily in political, economic, cultural and security areas and on international and regional affairs, the two countries agreed to upgrade bilateral ties to a strategic partnership of cooperation, raising the bilateral relationship to a new level, it added.
"Of the signed documents, 15 were government-to-government MoUs and deals, while 12 loans and mutual deals�now we need to materialize it through our diplomacy," Former diplomat Waliur Rahman said.Investment deals worth over $37 billion were signed yesterday between Bangladesh and China in both the government to government level and private sector. In the government to government level, Bangladesh and China signed 27 loans and investment deals worth over $24 billion including ones on boosting cooperation in counter-terrorism and infrastructure development and energy cooperation, we should take the opportunity, he said.
He said in the private sector, 13 deals worth $13.6 billion were signed between Bangladeshi and Chinese companies. The Beijing funds that will come as loans will be used in major infrastructure projects such as roads, railways, special economic zone and dedicated industrial park and other areas.
Meanwhile, Dr Ali Riaz, Prof and Chair of the Department of Politics and Government at the Illinois State University has made a comment on the visit to a local news agency where he said the growing Bangladesh-China relationship, now seen at its new historical turning point, is 'not a threat' to the strategic interests of India as of now.
"The investment China is expected to make in Bangladesh doesn't pose any challenge to the Indian Strategic Interests," Dr Ali Riaz added.
Understandably, he said, India is closely watching the developments because Bangladesh is under India's sphere of influence and it would like to see the status quo is maintained.
Global powers, including the USA and India, are watching the historic development in Bangladesh-China relations with much interest.
"China-Bangladesh cooperation will deliver more fruits for the people of the two countries, and will contribute to peace and stability and development in the region," Xi Jinping said after official talks with Prime Minister Sheikh Hasina and signing of 27 MoUs and agreements between the two countries at the Prime Minister's Office.
"We've agreed to jointly advance road and belt initiative," Xi said adding that they also agreed to launch a joint feasibility study on China-Bangladesh FTA (Free Trade Agreement) to strengthen trade and investment cooperation.
He said China will continue to do its best in providing capital, technical and human resources to carry out close cooperation on the projects to support economic and social development of Bangladesh.
The two countries also agreed to designate the year 2017 as the year of 'exchange and friendship' between Bangladesh and China during which colourful events will be held to carry forward the friendship.
They also laid emphasis on institutionalising cooperation on maritime affairs, counter-terrorism, advance BCIM Economic Corridor and increase communication and coordination on international and regional issues.
Prime Minister Hasina said, "Today, we've elevated our 'Closer Comprehensive Partnership of Cooperation' to a 'Strategic Partnership for Cooperation' and under this strategic partnership, we've agreed to work towards socio-economic advancement of the peoples of our two countries."
She said they reached a consensus on cooperation in key areas such as trade and investment, infrastructure, industry, power and energy, information and communication technology and agriculture.