Dhaka seeks closer economic ties with Beijing | business | Hindustan Times
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Dhaka seeks closer economic ties with Beijing

business Updated: Sep 14, 2008 15:53 IST

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Bangladesh hopes to attract Chinese investment in its infrastructure and manufacturing sectors and consolidate its defence ties during the visit of Chief Advisor Fakhruddin Ahmed to China that begins on Monday.

Talking to Chinese state news agency Xinhua, Ahmed said he expected closer economic cooperation with China and more Chinese investment in Bangladesh.

"I hope my visit will strengthen economic cooperation in different fields and trade between the two countries, and improve and increase Chinese foreign investment in Bangladesh," Xinhua quoted Fakhruddin as saying.

Bangladesh, he said, was offering attractive financial incentives for foreign investment in addition to other advantages such as competitively cheap, young and trainable labour force.

Ahmed, who performs prime ministerial functions in the military-backed caretaker government, will also discuss the proposed laying of a 111 km road connecting Teknaf, in south-western Bangladesh, with Kunmin in China, through Myanmar.

A $3 billion investment proposal by Indian conglomerate Tata that fell through in July, included investment in a chemical fertiliser factory using Bangladeshi gas.

Bangladesh is now seeking a fertiliser factory with a private sector initiative from the Chinese.

In the first summit-level visit since 2006, the head of Bangladesh's interim government is scheduled to call on the Chinese President, Hu Jintao and Vice President, Xi Jinping, and hold talks with his Chinese counterpart, Prime Minister Wen Jiabao.

Foreign affairs adviser Iftekhar Ahmed Chowdhury in a statement Saturday said: "We are keen to learn from the breakthrough achieved in China in the field of hybrid rice production and the growing of genetically modified seeds," New Age newspaper said.