China Reiterates Support For Bangladesh Amid Reserve Crisis

Desk Report

Published: 28 Jan 2024, 03:57 pm

Chinese Ambassador to Bangladesh Yao Wen || File Photo

Chinese Ambassador to Bangladesh Yao Wen || File Photo

Amidst Bangladesh's challenges with fluctuations in its foreign exchange reserves, China has reiterated its commitment to stand by Dhaka during these economic difficulties. The assurance was conveyed by the Chinese Ambassador to Bangladesh, Yao Wen, after a meeting with Foreign Minister Dr. Hasan Mahmud on January 28.

The recent discussions centered on Bangladesh's reserve crisis, with Ambassador Yao Wen emphasizing China's unwavering support in helping Dhaka overcome its financial challenges. The meeting, part of a series of engagements following Bangladesh's new government formation, took place at the Secretariat.

In the friendly exchange, both parties delved into matters crucial to the interests of China and Bangladesh, expressing a shared commitment to elevate diplomatic relations. The enduring friendship between the two nations was highlighted as they navigated through economic uncertainties.

Foreign Minister Hasan Mahmud expressed gratitude to China for its ongoing support in various developmental projects within Bangladesh. Ambassador Yao Wen reaffirmed Beijing's steadfast commitment to standing by Dhaka, particularly in addressing challenges posed by the current foreign exchange reserve crisis.

Bangladesh's foreign exchange reserves have exhibited a fluctuating trend over the years, averaging 24,899.28 USD million from 2008 to 2023, with a record high of 48,060.00 USD million in August 2021 and a record low of 7,470.90 USD million in June 2008.

In addition to addressing the reserve crisis, Ambassador Yao Wen announced China's commitment to initiate work on the Teesta project, contingent upon Dhaka's consent. The Teesta River project holds strategic importance and has been a subject of collaborative discussions between the two countries.

The Chinese ambassador also acknowledged China's active efforts to facilitate a ceasefire in the ongoing violence in Myanmar's Rakhine state. Collaborative initiatives involving Bangladesh, Myanmar, and China are underway to initiate the repatriation of Rohingya refugees soon.

As diplomatic engagements continue, Foreign Minister Hasan Mahmud is scheduled to meet the European Union Resident Representative Gwen Lewis and have a courtesy meeting with the Ambassador of Nepal, Ghanshyam Bhandari.

China's reaffirmation of support comes at a critical juncture for Bangladesh, offering assurance and collaboration as the nation addresses economic challenges. The evolving partnership between China and Bangladesh holds the promise of shared resilience and mutual growth amid economic uncertainties.

Editor & Publisher: Eliash Uddin Palash

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