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PM-ECONOMY-GLOBAL 2 LAST DALIAN
The premier’s address was followed by a question-answer session, when
replying to a query about China’s engagement in implementing several
Bangladeshi mega projects with Chinese loan, she said Bangladesh was not
worried about the “debt trap” as the deals were appropriately negotiated.
“Many people talk about ‘debt trap’. I have a simple answer. As long as
these mega projects are in our people’s interest, has the right pay off and
negotiated rightly, we must not be worried,” she said.
Sheikh Hasina said China is involved in some Bangladesh’s mega
infrastructure projects while “our external debt is around 14.3% of GDP
(which) clearly is a sign of a healthy economy”.
Sheikh Hasina said Bangladesh employed Chinese companies in construction
of the longest and challenging 6.9 km river bridge in Bangladesh while “it is
fully funded by Bangladesh government”.
“In the past 10 years of our government, I have tried to position
Bangladesh in a balanced and objective manner with all our friends globally
to optimize our economic and development aspirations,” the premier said
responding to another question.
she added that her government always made it clear to all that Bangladesh
does not harbor any military ambition as “it is against our values and
ethos”.
“During the past term of my government (2014-18), we engaged and deepened
our ties with India-China-Japan-US-Europe-Russia seamlessly,” Sheikh Hasina
said.
As a fastest growing economy, she said, Bangladesh needs each of our
friends for diverse purposes – not certainly at the expenses of another.
“Each of our friends has distinct competence and interest as well. As long
as our relationships are based on mutual trust and respect, we all gain for
our peoples,” the premier said.
Sheikh Hasina described Bangladesh-India ties and engagements as “organic”
saying it was “beyond a few billions of dollars of trade”.
“It is just organic. We have shaded blood together for our (Bangladesh’s)
independence,” she said.
On the other hand, the premier said, Bangladesh’s relationship with
Beijing was good as well as “China is our partner in mega projects and
economic advancements”.
“Our ties with Japan are historic, not just as the largest ODA partner,”
she said adding “Russia, another partner who stood by us during our
liberation war, is now helping us in our energy security area”.
About Bangladesh’s possible joining with Regional Comprehensive Economic
Partnership (RCEP) or Comprehensive and Progressive Agreement for Trans-
pacific Partnership (CPTPP), Sheikh Hasina said during mid 1990s, Bangladesh
was a fast liberalizing economy in South Asia.
“We were then an LDC, a small economy. In spite of risks and uncertainty,
we agreed to open up to the world. We realized that economic cooperation with
the region around and faster integration with global supply chain is the
future for Bangladesh,” she said.
The premier predicted that in 10 years from now, Bangladesh is likely to
become 25th largest economy globally and “whatever gaps or limitations that
we have, we are ready to correct those. So, we are for ‘open regionalism'”.
She said Bangladesh engages vigorously with India, Japan, China and many
others “without
any inhibition” and “that is the reason we are also objectively
approaching our engagement in BCIM-EC as well as BRI and Indo-Pacific
arrangements”.
Sheikh Hasina said Bangladesh’s graduation as a Middle Income Country led
it to move for Bilateral FTAs with some countries and “given our size-
location-nature-structure, Bangladesh is
ready to join an inclusive RCEP”.
“We have also approached ASEAN for their partnership,” she said.
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