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Chinese Foreign Minister's visit to Dhaka

BARRISTER HARUN UR RASHID
THE visit of the Chinese Foreign Minister Wang Yi from December 27 to 29 illustrates the importance of further consolidation of bilateral relations for mutual benefit.
The Chinese foreign minister met with Prime Minister Sheikh Hasina and the Chairperson of BNP Khaleda Zia. The meeting with Khaleda Zia
shows that China is appreciative of political parties which contributed to the strengthening of bilateral relations.
On December 28, the foreign ministers of Bangladesh and China held wide ranging discussions which reportedly covered all bilateral issues of cooperation, including sectors such as agriculture, industrial, military and infrastructure. The meeting also discussed about celebration of their 40-year diplomatic ties in 2015. (China recognised Bangladesh on August 31,1975 and opened its mission in October)
China's past "ping-pong diplomacy" has been replaced by "cheque-book diplomacy." China is interested in investing in South Asia in sectors which would generate good returns, and it is reported that in the next five years China is ready to provide $30 billion investment and $20 billion loans to South Asia.
In Bangladesh, China reportedly agreed to invest about $4 billion on six projects which include among others, a tunnel with multiple lanes under the Karnaphuli river, a second railway bridge on the Karnaphuli river at Kalurghat, construction of double-gauge railway from Chittagong to Cox's Bazar via Ramu and from Ramu to Cundhum.
It is reported that the foreign minister of China welcomed Bangladesh's proposal of creating a specialised zone for investment of Chinese companies in Bangladesh. China has shown keen interest to build a deep-sea port at Sonadia.
The deep-sea port is hugely important for Bangladesh because it can provide a gateway to the Bay of Bengal for the South Asian hinterlands comprising Bhutan, Nepal and India's seven northeastern states with a population of more than 70 million. This means Bangladesh can be a "hub" of regional economy and will be able to play a vital role as an inter-regional con-necting- point between South Asia and South East Asia.
China and Bangladesh are interested in building an economic corridor through land territory connecting Bangladesh, China, India and Myanmar (BCIM).The route, which is about 2,800 km long, is a part of the historic Silk Route and will cost about $22 billion. The second meeting of officials of Joint Study Group of all four countries was held in Cox's Bazar on December 17-18, and it is reported that it will submit a combined report within six month to the governments of the four countries. The next
meeting is expected to be held in India.
Once all the countries have agreed to build the route a multi-billion dollar fund might be established with the assistance of multilateral development partners and the private sector, apart from the funds of the governments.
Bangladesh's relations with China have taken a multi-faceted direction. China has assisted Bangladesh, among others, in infrastructure, power, industrial plants and telecommunications. Over the past few years, China has replaced India as Bangladesh's biggest import destination, with bilateral trade of about $10 billion during 2013 heavily in favour of China.
The more investment Bangladesh receives from China and Japan, the quicker it will reach its goal of becoming a middle income country by 2021. The governments and the people of both countries interact closely in the case of investment and the relationship with the investor country is deep and lasting.
For infrastructure construction in Asia, China has established the Asian Infrastructure Investment Bank, with an estimated approved capital of $100 billion. Bangladesh, India and Nepal have joined as founding-members of the Bank. The Bank will be complementing the work of other entities, like the Asian Development Bank and the World Bank
Bangladesh is a nation of strategic importance not only for the South Asian region but also for the larger geo-political dynamics of Asia as a whole. The country constitutes a bridge between
South Asia and South East Asia. Bangladesh's access to the Indian Ocean is commercially and strategically important.
Naturally, other countries such as the US, India and Japan are interested to keep close relations with Bangladesh for strategic reasons. Like India, the US and Japan are becoming closer, apparently to contain the influence of China in Asia-Pacific region including in South Asia, deepening of relationship between Bangladesh and China is being closely monitored by these countries.
It is wrong to suggest that Bangladesh has to choose between India and China or China and Japan. Bangladesh must have friendly relations with all these countries. It is desirable that Bangladesh does not overwhelmingly align itself to one country to be an irritant to another. Many politicians and academics believe that with friendly relations with all these countries, Bangladesh will have more negotiating power regionally and globally.
The policy "Look to the East" has ushered in a new phase of Bangladesh foreign policy under the current government. Bangladesh Prime Minister Sheikh Hasina visited Japan in May and China in early June, 2014 and received commitment of financial support and investment from both countries for many infrastructure projects. Bangladesh has been vigorously pursuing a foreign policy of what some analysts label "more friends and fewer enemies."
The writer is a former Bangladesh Ambassador to the UN, Geneva.