China to cooperate with Bangladesh on agriculture, research, visiting minister tells CA

Chine is ready to extend cooperation with Bangladesh in trade and commerce, with a particular eye on agriculture, jute, marine fisheries and research, visiting Chinese Commerce Minister Wang Wentao said today (1 June).

"The Chinese companies that have come with me are excited. You expressed the direction of Bangladesh's future development. The Chinese companies told me that they are now more confident about investing in Bangladesh after your initiatives," Wentao told Chief Adviser Muhammad Yunus during a meeting at the State Guest House Jamuna in Dhaka.

Referring to growing consumerism in Bangladesh, the Chinese minister said he was impressed by the presence of shoppers in Bangladeshi malls even after 10pm and cited statistics that suggested that by 2030, Bangladesh would become the ninth largest consumer market in the world.

The chief adviser insisted that there are huge opportunities left unexplored in Bangladesh's villages, especially in the field of agriculture, and in deep water marine and fish water river fisheries.

He said with a Chinese touch every village in Bangladesh could be transformed into a production unit.

"As we discussed, we are eager to know what areas of agriculture we can have full-scale cooperation in," the Chinese minister said, referring to areas such as farmland development, water conservation, and planting technologies.

"As I see it, agriculture is not just an industry but a form of social organisation," the minister said.

When it comes to fisheries and the marine economy, he mentioned Chinese expertise in the fields and sought specific proposals from Bangladesh.

"China is leading the world in fishing technologies, especially deep water marine fishing," said the Chinese minister.

He also took note of Prof Yunus's speech made earlier in the day at the China-Bangladesh Conference on Investment and Trade when the chief adviser spoke about the potential of reviving Bangladesh's jute sector.

He said China imports jute worth $100 million from Bangladesh annually, which is roughly 10% of Bangladesh's jute exports, and with research and product diversification, this could grow manifold.

Wang Wentao said after the chief adviser's speech at the conference, Chinese jute traders gathered immediately to decide to conduct some research on Bangladesh's jute products.

"Our cooperation should not be limited to businesses. We should also collaborate on research. If the Bangladesh side joins the research work, I think jute will be a very suitable product for us," Wentao said.

The chief adviser said Bangladesh's jute product designers can work together with Chinese experts. 

He appreciated the Chinese minister's gesture and thanked China for being on the side of Bangladesh as a friend.

"Your words are music to my ears," said the chief adviser, also hailing the Chinese minister for bringing so many Chinese investors with him and then making a passionate speech about Bangladesh's prospects at the China-Bangladesh conference earlier in the day.

"We are absolutely delighted. Your speech (today) was really important. So many investors came. It is a good signal for us, as the whole nation is watching," he said.

Yunus recalled his recent visit to China when many bilateral issues were discussed, including trade and commerce.

"During our visit, we had a lot of friendly discussions. Your visit will take it forward," he said.