Xi calls for joint promotion of Belt Road Initiative

BEIJING: Chinese President Xi Jinping said he stands ready with Bangladesh leaders to better align the two countries’ strategies and jointly promote the construction of his multi-billion dollar Belt Road Initiative (BRI) to take the strategic partnership of the two countries to new heights.

Xi made the remarks in an exchange of congratulatory messages with his Bangladesh counterpart, Mohammad Abdul Hamid, on the 45th anniversary of the establishment of the bilateral diplomatic relationship on Sunday. In his message, Xi hailed the steady and long-term friendship saying he is ready to work with Hamid to better align development strategies with Bangladesh, step up cooperation under the framework of the BRI and push forward the China-Bangladesh strategic, cooperative partnership to a new level, official media reported. With over $26 billion Chinese investments and $38 billion dollars funding commitments, Bangladesh is one of the largest recipients of China’s massive infrastructure project.

China has also offered zero-tariff treatment to 97 per cent of Bangladesh’s exports by adding 5,161 more items to the existing list of 3,095 duty-free products. The BRI seeks to build rail, maritime and road links from Asia to Europe and Africa in a revival of ancient Silk Road trading routes.