Bangladesh’s situation much better than Sri Lanka: Chinese envoy

Bangladesh's economic situation is much better than Sri Lanka's, says Chinese Ambassador to Bangladesh Li Jiming.

Ambassador Li was speaking at the latest installment of "DCAB Talk", at Jatiya Press Club in Dhaka.

The envoy talked about debt management, global development initiative, trade and investment issues, reports UNB.

As an economic powerhouse accounting for 18.5% of the world economy, China has always been committed to joint development with neighbouring countries, including Bangladesh, said the ambassador.

"We foresee a promising outlook [in terms of relations with Bangladesh]. We are ready to work with Bangladesh for a brighter future," he said.

About the Chinese debt trap theory, he said, "There is no Chinese debt trap in Bangladesh. There is no Chinese debt trap globally."

The ambassador said China "never acts against Muslims in the country" and they have no particular reason to hate or discriminate against any group.\

He also said that the western commercial loan and the multi-international financial institutions loan account for the majority of the foreign debt of Sri Lanka. Chinese loan account for less than 10% of the total foreign debt of that country (Sri Lanka).

The situation is similar for Bangladesh, Chinese debt account for only 6% of the foreign debt.

"To that extent I would say that the situation of Bangladesh is much better than Sri Lanka. The total foreign debt level in Bangladesh is also much lower.

"According to the Euro-financial ministry it stands at 36% which is much lower than Sri Lanka."

Bangladesh's debt level is also lower in comparison to the debt level of many other countries, even developed countries, he added.

"The foreign debt of US is $31 trillion and the GDP is only $24 trillion, you can calculate the proportion," said the Chinese ambassador.

Chinese debt account for a small portion of the foreign debts in countries, he added.

The envoy said that China shares the same views as Bangladesh on the Ukraine issue and highlighted importance of having dialogue and discussion to resolve problems peacefully.

On the Rohingya crisis, Ambassador Li said China is putting in efforts for early repatriation of the Rohingyas to their homeland Myanmar, reports UNB.

Diplomatic Correspondents Association, Bangladesh (DCAB) organised its flagship programme. DCAB President Rezaul Karim Lotus and General Secretary AKM Moinuddin, also the diplomatic correspondent at UNB, also spoke at the programme alongside the Chinese ambassador.