Prime Minister Sheikh Hasina on Wednesday (July 12) wrapped up a three-day visit to Beijing for her third Summit-level meeting with Chinese President Xi Jinping, during which the two countries decided to elevate their relations to what is now a 'comprehensive strategic cooperative partnership'. At the previous Summit in 2016, which took place in Dhaka, the two sides had agreed to upgrade the ties to a 'strategic cooperative partnership'. So the latest upgrade must be understood through the addition of the word 'comprehensive'.

The two leaders made the announcement while meeting in Beijing, reported Xinhua, China's official news agency. But what does it entail?

Bangladesh and China have always respected and supported each other, treated each other as equals and cooperated for win-win results since the establishment of diplomatic ties, setting an example of friendly exchanges and mutually beneficial cooperation between countries, especially among Global South countries, Xi said.

China cherishes the profound friendship forged by the older generation of leaders of the two countries and is willing to take the 50th anniversary of establishing diplomatic ties next year as an opportunity to deepen high-quality Belt and Road cooperation, expand cooperation in various fields, and promote the steady and long-term development of China-Bangladesh comprehensive strategic cooperative partnership, Xi added.

He called on the two sides to promote the fine tradition of mutual support and deepen political mutual trust, noting that China supports Bangladesh in adhering to an independent foreign policy, pursuing a development path that suits its national conditions, safeguarding national sovereignty, independence and territorial integrity, and opposing any external interference.

China hopes to share experience on governance and development policies with Bangladesh, strengthen the synergy of development strategies and deepen cooperation in economy, trade, investment and connectivity, Xi said.

More Chinese enterprises are encouraged to enhance industrial investment cooperation with Bangladesh to promote the integrated development of industrial and supply chains and help Bangladesh achieve national development, Xi noted.

The two sides should make the China-Bangladesh Year of People-to-People and Cultural Exchanges next year a success and promote exchanges and cooperation in culture, tourism, media and sports, he added.

China is ready to work with Bangladesh to enhance coordination on international and regional affairs, strengthen cooperation within multilateral frameworks such as the United Nations, uphold the common values of humanity, and promote the building of a community with a shared future for humanity, Xi said.

Hasina said the Bangladeshi side admires China's great achievements in overcoming various difficulties and challenges and continuously improving people's living standards under the brilliant leadership of President Xi.

Bangladesh is firmly committed to advancing the cause of national liberation, poverty reduction and development, and thanks China for its valuable support in this process, Hasina added.

Bangladesh hopes to learn from China's successful development experience, expand cooperation in areas such as economy, trade, infrastructure and poverty alleviation, and strengthen people-to-people exchanges in youth and culture, she said, adding that the Belt and Road Initiative has greatly promoted economic development and improved people's livelihood in the region, and Bangladesh will continue to actively participate in the Belt and Road cooperation.

Bangladesh firmly abides by the one-China principle, supports China's position on the Taiwan question, resolutely opposes external interference in China's internal affairs and firmly supports China in safeguarding its core interests, Hasina said.

The comprehensive strategic cooperative partnership between Bangladesh and China will surely achieve greater development, she added.

In practical terms, the elevation in ties was embodied in the signing of some 21 different instruments, including two renewed Memorandums of Understanding (MoUs) and the announcement of seven more projects. The instruments were inked in the presence of Hasina and Chinese Prime Minister Li Qiang, after the delegation-level talks between the two countries at the Great Hall of the People, Beijing.

After the delegation level meeting, the Bangladesh prime minister along with her Chinese counterpart witnessed the exchange of the documents.

The instruments range from cooperation in the economic and banking sector, trade and investment, digital economy, infrastructure development, assistance in disaster management, construction of sixth and ninth Bangladesh-China friendship bridges, export of agricultural products from Bangladesh and people to people connectivity.

Space for business

On the second day (Tuesday, July 9) of the prime minister's visit, the showpiece event was 'The Summit on Trade, Business, and Investment Opportunities between Bangladesh and China,' that saw over 1,000 representatives from governments and the business sector on both sides. The event was praised for fostering closer ties between the two countries, with participants expressing their readiness to usher in a new era of bilateral trade and investment cooperation.

During the summit, 16 memorandums of understanding were signed between Chinese and Bangladeshi companies. These agreements span various critical sectors for Bangladesh's development, including telecommunications, infrastructure, electric vehicles, solar power and nuclear power, among others.

Speaking at the summit, the Bangladeshi prime minister stated the significance of the contribution that Chinese investors have made to the country while expressing her welcome to more Chinese companies to come and invest there.

"Bangladesh and China have a long tradition of bilateral cooperation and mutual support. China has been significantly contributing to our infrastructure projects, technological advancements and overall growth of our economy," Hasina said, noting that "It's time for us to explore new areas for collaboration, trade and investment."

The prime minister said that Bangladesh welcomes Chinese investments in the country's export-oriented industries, "which will help us diversify our export basket and reduce trade deficits."

"To enhance business cooperation, we encourage the Chinese companies to form joint ventures with Bangladeshi firms," she said.

Responding to the many cooperative agreements, Rashadul Hossain Chowdhury, vice-president of the Federation of Bangladesh Chambers of Commerce and Industry who was part of the business delegation accompanying the prime minister, told Global Times, a tabloid that serves as one of the Chinese Communist Party's official mouthpieces, that "this is just a beginning of our greater bilateral collaboration as both nations are embracing more opportunities for cooperation in the future."

"We are all here looking for more opportunities in the bilateral joint collaboration. Currently, we have a lot of Chinese businessmen in Bangladesh, and now the era for more cooperation is coming," Chowdhury said.

The FBCCI vice president also told Global Times that there are several areas where he sees huge opportunities for cooperation between the two sides. These include machinery, agriculture, road and bridge construction and hospitality industry. China's cooperation can help facilitate Bangladesh's Vision 2041, which aims for the country to become a developed nation.

This sense of anticipation, for the dawning of a new era of enhanced cooperation between the two countries, are held in common by the business communities of both the countries.

Another member of the business delegation was Ahsan Khan Chowdhury, chairman and CEO of PRAN-RFL Group, the mainly food and plastics giant (at least in the domestic market of Bangladesh), illustrated how closer ties with China make a huge difference to the health of his business, that Global Times reported.

Chowdhury has been working in China for the last 30 years, mainly purchasing Chinese equipment and selling it in Bangladesh, and he is grateful to Chinese partners for giving him very reasonable prices for the equipment, which has helped him run a very successful business.

"Today, we are the largest food company in Bangladesh. We are the largest plastics company in Bangladesh. And most of my factories are built with Chinese machines," he said, noting that he constantly depends on China to run an efficient business in Bangladesh, where China is a very important part of his supply chain.

"I hope that more cooperation will take place under the Belt and Road Initiative, so that bilateral trade will get stronger," the Bangladeshi businessman said.

Looking ahead, Chowdhury wants to start more businesses with the Chinese companies that are planning to start operating in Bangladesh for export to different parts of the world, because Bangladesh has a very low-cost manufacturing capability.

Economic and trade cooperation has always been a cornerstone of China-Bangladesh bilateral relations. Over the years, nearly 7,000 Chinese enterprises have flourished in the South Asian country, contributing to a wide range of sectors including trade, investment, as well as some landmark projects, Chinese Ambassador to Bangladesh Yao Wen said at the summit.

The ambassador said that this partnership has propelled China to become Bangladesh's largest trading partner and second-largest source of foreign investment, as well as providing over 550,000 job opportunities, greatly improving the welfare of the Bangladeshi people.

One tangible new achievement in bilateral cooperation is the launching of direct flights connecting the two countries' capitals. According to arrangements by aviation authorities in China and Bangladesh, Air China was set to inaugurate a direct flight from Beijing to Dhaka on the day of the Summit, with plans to operate four flights weekly - the inauguration went ahead as planned. Meanwhile, China Southern Airlines is set to launch a direct flight from Beijing to Dhaka on July 15, with two flights per week.

"These direct flights will facilitate enhanced business interactions between the two nations," Ambassador Yao said.

Close, and ever-closer

Bangladesh has always maintained development partnerships with the United States, India, and many other countries in what may be called the Western alliance - although India would most likely choose to be excluded from any such grouping, preferring to chart its own independent path, although it does proudly share in what may be the most defining characteristic of the alliance - the championing of democracy and a democratic system of governance.

While maintaining these relationships, Bangladesh has made no secret of the fact that it is drawing closer and closer to China - a trend it has consistently pledged to support and continue. This should no longer be news of any sort. In its undying quest for growth and development, possibly no other country with the exception of the Japanese, has been as deeply involved and engaged in the country's vital infrastructure sector, building seaports, railway tracks, power plants and bridges.

Have Beijing and Dhaka actually grown closer over the last 8 years? On balance, it is difficult to deny a record of continual progress, although there are those in both Dhaka and Beijing who insist the relationship could have grown further, and faster, if not for the often interventionist role attributed to India. Trade ties have of course kept growing, and China is today more firmly ensconced as Bangladesh's No. 1 trading partner - albeit at the cost of a massive trade deficit that doesn't favour Dhaka.

Encouragingly, cooperation in the highly sensitive defence sector, has remained almost unabated. This was most noticeable in the purchase of two refurbished Chinese submarines for the Bangladesh Navy, followed by engaging the Chinese in building a base to serve as the home port for the country's first commissioned submarines. The $1.21 billion submarine base in Pekua, off Kutubdia Island in Cox's Bazar, was inaugurated in 2023.

Understandably, the Bangladesh prime minister was eager to strengthen relations, to the extent that it would serve to encourage Chinese investment in her country's economy, which faces challenges over a heavy debt burden that is starting to fall due. The United States remains Bangladesh's largest source of foreign direct investment, as well as the largest single-nation exporter of its export-oriented textile and RMG industry - a vital source of foreign currency.

Hasina's visit to China took place in the space of a busy three weeks during which she also visited India, demonstrating her vision to forge ahead with independent partnerships on both flanks, and refusing to take sides in an increasingly fraught region.

Instruments of Elevation

1. The MoU on Strengthening Investment Cooperation in the Digital Economy.

2. The MoU on Banking and Insurance Regulatory between China National Financial Regulatory Administration (NFRA) and Bangladesh Bank.

3. A Protocol of Phytosanitary Requirements Export of Fresh Mangoes from Bangladesh to China.

4. The MoU on Exchange and Cooperation in the field of Economic Development Policy.

5. The MoU on Trade and Investment Cooperation.

6. The MoU on Strengthening Digital Economy Cooperation.

7. Signing of Minutes of Discussions on the Feasibility Study of the China-aid National Emergency Operation Center in Bangladesh Project.

8. Exchange the Letter on the China-aid sixth Bangladesh-China Friendship Bridge Renovation Project.

9. Exchange the Letters on the Feasibility Study of China-aid Construction of Nateshwar Archaeological Site Park in Bangladesh Project.

10. Exchange the Letters on the China-aid 9th Bangladesh-China Friendship Bridge Project.

11. The MoU on Strengthening the Cooperation in Medical Care and Public Health.

12. The MoU on Strengthening the Infrastructure Cooperation.

13. The MoU on Cooperation on Green and Low-Carbon Development.

14. Renewing the MoU on Provision of Hydrological Information of the Yaluzangbu/ Brahmaputra River in Flood Season by China to Bangladesh.

15. The MoU between National Radio and Television Administration and the Ministry of Information and Broadcasting of Bangladesh.

16. The MoU between the China Media Group (CMG) and Bangladesh Sangbad Sangstha (BSS).

17. The MoU between the China Media Group (CMG) and BTV.

18. An Agreement between the Xinhua News Agency and BSS.

19. An Agreement between the Xinhua News Agency and BTV.

20. Renewing the MoU between the Ministry of Education of China and the Ministry of Education of Bangladesh.

21. The MoU Regarding Public-Private Partnership for Sustainable Infrastructure Development.

Seven projects:

1. Announcement of the Conclusion of Joint Feasibility Study on China-Bangladesh Free Trade Agreement.

2. Announcing the commencement of negotiation on the Optimization of China-Bangladesh Bilateral Investment Treaty.

3. Announcing the completion of the Modernization of Telecommunication Network for Digital Connectivity project.

4. Announcing the completion of trial run of the Single Point Mooring with Double Pipe Line project.

5. Announcing the commencement of Rajshahi WASA Surface Water Treatment Plant.

6. Signing the MoU between Shandong Agricultural University and Bangabandhu Sheikh Mujibur Rahman Agricultural University in Gazipur.

7. Announcing the construction of Luban Workshop in Bangladesh.