China cautions Bangladesh about joining new US-led pact

The Chinese ambassador to Bangladesh Li Jiming cautioned Bangladesh about joining the US-led Indo-Pacific Economic Framework (IPEF) and hoped that Bangladesh government and its people will take the wise decision.

Li Jiming said this during a seminar on ‘Making the Most of Market Access in China: What Needs to be Done?’ jointly organised by Bangladesh China Chamber of Commerce and Industry (BCCCI) and Research and Policy Integration for Development (RAPID) at Pan Pacific Sonargaon in Dhaka on Wednesday.

In his speech as chief guest, commerce minister Tipu Munshi encouraged businesses from both sides to work more intently. He said there is no substitute to diversification to increase exports to China. He vowed to take the advice of analysts into account to expand trade.

The Chinese ambassador Li Jiming said, “To ensure development in our region, peace and stability are vital. We all know that recently some bad things have happened. A lot is being said about it. Something dangerous has happened in our region. We have done well for a decade without AUKUS (a security pact between Australia, United Kingdom and United States), QUAD (a pact between Japan, India and Australia) and IPEF (US-led Indo-Pacific Economic Framework). Suddenly, these things have come in front of us. I strongly believe we will do even better without these pacts. Hence, we have to decide for ourselves whether we need to be a part of these things.”

He further said, “I believe Bangladesh government and its people are sensible enough to take a decision about it (joining US-led pacts). They will prove themselves to be wise and take the right decision. We want peace in this region. We need political stability. That is vital for any development. This applies to Bangladesh too.”

The Chinese ambassador further said, now the biggest topic for discussion is how Bangladesh can increase its exports to China. A special economic zone for Chinese investors will help increase the amount of Chinese investment.

BCCCI president Gazi Golam Murtaza presided over the seminar. RAPID chairman Dr Mohammad Abdur Razzaque read the key-note paper.

RAPID’s executive director M Abu Eusuf hosted the seminar. Export Promotion Bureau (EPB) vice chairman AHM Ahsan and BCCCI acting general secretary Al Mamun Mridha also spoke in the event.

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