Bangladesh and China Boost Local Currency Usage in Trade Agreements

Industry Desk: Bangladesh and China have agreed to enhance cooperation in financial regulation, and encouraged increased use of local currency settlement in bilateral trade, according to a joint statement issued after Prime Minister Sheikh Hasina’s three-day official visit to Beijing. Hasina returned home early hours of Thursday after talks with Chinese President Xi Jinping and Prime Minister Li Qiang.

The Bangladesh side welcomes Chinese banks to establish branches in Bangladesh, and vice versa.
Bangladesh and China agreed to strengthen coordination in international and multilateral affairs, and expressed readiness to further coordinate positions and build broader consensus in multilateral processes concerning international peace and security, sustainable development, human rights, humanitarian affairs, climate change, energy transition and environmental protection, to jointly safeguard the common interest of developing countries.

The two sides discussed various aspects of the Global Development Initiative put forward by President Xi Jinping. The Chinese side is ready to share experience on GDI issues with the Bangladesh side.
The Chinese side also presented the Global Security Initiative (GSI) and the Global Civilization Initiative (GCI) to the Bangladesh side to ensure peace, development and shared prosperity for all.

PM Hasina paid an official visit to China from July 8 to 10 at the invitation of Premier Li.
During the visit, Hasina had a meeting with Xi and met with Wang Huning, chairman of the National Committee of the Chinese People’s Political Consultative Conference.

In a cordial and friendly atmosphere, the two sides had in-depth exchange of views on bilateral relations and international and regional issues of mutual interest, and reached extensive consensus.
The Bangladesh side congratulated the Chinese side on the 75th anniversary of the founding of the People’s Republic of China, and applauded China’s historic achievements and transformation in economic and social development in the new era.

Bangladesh lauded China’s efforts to build itself into a great modern socialist country in all respects and advance the great rejuvenation of the Chinese nation on all fronts through the Chinese path to modernization, and expressed sincere wish for China to realize the Chinese dream of national rejuvenation as scheduled.

The Chinese side applauded the achievements of Bangladesh in economic and social development, and expressed continued support for Bangladesh’s graduation from the UN Least Developed Countries (LDC) status in 2026 as scheduled and Bangladesh’s steady progress toward realizing its Vision 2041 of a “Smart Bangladesh.”

The two sides applauded their strategic partnership of cooperation established in 2016, and agreed that the China-Bangladesh relationship has reached a new height.
Leaders of the two countries agreed to stay committed to the Five Principles of Peaceful Coexistence, carry forward the long-standing friendship, foster greater synergy between development strategies of the two countries, advance the Belt and Road cooperation, and elevate the bilateral relationship to a comprehensive strategic cooperative partnership.

The two sides decided to take the opportunity of celebrating the 50th anniversary of the establishment of China-Bangladesh diplomatic relations in 2025 to plan together for the future development of bilateral ties and take the China-Bangladesh relationship to another new height.

The two sides agreed that China and Bangladesh have been good neighbors and good friends since ancient times, sharing a millennium-old history of friendly exchanges.
Over the past 49 years since the establishment of diplomatic relations, the traditional China-Bangladesh friendship forged by generations of leaders of both countries has grown from strength to strength.
The two countries have always respected each other, treated each other as equals, and pursued mutual benefits. With ever deepening mutual trust, the two countries have achieved fruitful outcomes in their practical cooperation, and kept close collaboration in international and regional affairs, thus setting a fine example of friendship and mutually beneficial cooperation in relations between countries.

The two sides reaffirmed their commitment to mutual respect for each other’s sovereignty, independence and territorial integrity, and to mutual understanding and support on issues involving each other’s core interests and major concerns.
The Chinese side firmly supports Bangladesh in maintaining peace and stability, realising development goals as envisioned under Vision 2041, non-interference in its internal affairs, and independently choosing a development path suited to its national conditions.
The two sides stressed that the authority of the U.N. General Assembly Resolution 2758 is beyond question and brooks no challenge.

Bangladesh reiterated its firm commitment to the one-China principle and its position that the government of the People’s Republic of China represents the whole of China, and Taiwan is part of China, and Bangladesh supports China on issues pertaining to China’s core interests and China’s efforts to safeguard its national sovereignty and territorial integrity.