Dhaka to urge Beijing to cut loan interest rate
Bangladesh will seek a reduction in loan interest rate and an extension of the repayment period by 30 years from China during the upcoming visit of Foreign Affairs Adviser Md Touhid Hossain.
The visit by Foreign Affairs Adviser Md Touhid Hossain, scheduled from January 20-24, is expected to focus heavily on economic issues, emphasizing the importance of trade and financial cooperation between the two nations.
Speaking at a press briefing at the Ministry of Foreign Affairs, Touhid highlighted the significance of Bangladesh-China economic ties. He indicated that discussions would prioritize budgetary support, accelerating loan disbursements for ongoing projects, and eliminating commitment fees to foster greater collaboration.
'Key economic matters will dominate the discussions, as our trade and financial relations with China are vital,' Touhid stated. He also confirmed that a formal request would be made for the complete removal of commitment fees as part of efforts to enhance cooperation.
This official visit marks a milestone in Bangladesh-China relations, as it is the first high-level bilateral engagement since the interim government, led by Prof Muhammad Yunus, assumed office in August last year. Invited by Chinese Foreign Minister Wang Yi, the visit also sets the stage for preparations to celebrate the 50th anniversary of diplomatic ties between the two countries in 2025.
Currently, bilateral trade between Bangladesh and China amounts to approximately $25 billion annually, with a significant trade imbalance favoring China. Enhancing economic cooperation and addressing this trade disparity will also be key topics during the meetings.
Touhid’s itinerary includes official engagements from January 21-23, and he is expected to return to Dhaka on January 24. This visit is seen as a crucial step towards deepening ties and advancing strategic partnerships with Beijing.
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