China is now a strategic cooperative partner

The bilateral relations between Bangladesh and China have been elevated to a Comprehensive Strategic Cooperative Partnership (CSCP) because of expanding two-way trade and strategic reasons, Commerce Minister Khandakar Abdul Muktadir said yesterday.

Seventeen important agreements have been signed recently between the two countries, under which various projects -- including the modernisation of Mongla Port and the establishment of a Chinese economic and industrial zone in Chattogram -- are being implemented. Muktadir made these remarks as a panellist at a policy dialogue held during the 11th Belt and Road Initiative (BRI) Summit in Hong Kong.

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He also said that Invest Bangladesh has taken an initiative to establish the country’s first overseas investment office in China as part of efforts to strengthen investment ties with the country.

Describing Hong Kong as one of Bangladesh’s important commercial gateways, the minister said Bangladesh must leverage Hong Kong’s role as a bridge between mainland China and global markets.

He said the global economy of the future can be strengthened not through isolation, but through mutual cooperation, sustainable development, and an open trading system.

Speaking at the session on “Building Resilient Trade and Investment Frameworks in a Diverse Global Landscape,” the minister also said that for developing countries like Bangladesh, economic resilience is not merely about responding to crises.

Rather, it means creating a system capable of adapting to global changes while generating employment and new opportunities, according to a statement from the commerce ministry.

Referring to the preparations for graduation from the least developed country (LDC) category, Muktadir said Bangladesh is now moving towards growth driven by productivity, innovation, and competitiveness.

Four areas are being given particular priority to achieve this goal. These include export diversification, development of connectivity infrastructure, attracting productive investment, and a green economic transition.

Alongside ready-made garments, Bangladesh is working to integrate pharmaceuticals, leather and leather goods, agro-processing, light engineering, information technology, and man-made fibre industries into global value chains.

The minister said Bangladesh welcomes investment that can facilitate technology transfer, skills development, and the integration of local industries into international supply systems.

Under the BRI framework, he noted, there are significant opportunities for partnerships in economic zones, logistics, and renewable energy.

He also emphasised expanding digital trade, cross-border e-commerce, and digital payment systems to connect small and medium-sized enterprises, women entrepreneurs, and local businesses with global markets.

Calling for future trade and investment frameworks to be made more environmentally sustainable in response to climate change, he said low-carbon production, sustainable logistics, and green infrastructure would form the foundation of the future economy.

In his speech, the minister emphasised export diversification, investment in productive sectors, and stronger sustainable partnerships to address global challenges such as geopolitical instability, supply-chain disruptions, and climate change.

Bangladesh has also highlighted the need to expand regional and global connectivity while building a green and inclusive economic framework to maintain competitiveness in a changing global economy.