Beijing:Bangladesh has called on major Chinese banks to set up operations within its borders to enhance financial connectivity, facilitate trade financing, and support Chinese investments in the country.
According to Bangladesh Sangbad Sangstha, the appeal was made during the 'Bangladesh Day' event at the Export-Import Bank of China's headquarters in Beijing. This event was jointly organized by the bank and Invest Bangladesh. Eleven Chinese financial institutions, including three of the world's largest banks by assets, participated in the event. These banks were the Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China, and Bank of China.
The event also saw participation from 26 leading Chinese companies across various sectors such as infrastructure, engineering, power and renewable energy, information technology, and green technology. Invest Bangladesh Chairman Ashik Chowdhury was the chief guest, while China Exim Bank Vice President Wang Kang and Bangladesh Ambassador to China Md Nazmul Islam attended as guests of honor.
Bangladesh Bank and Invest Bangladesh presented a paper titled 'The Next Frontier Bangladesh-China Financial Connectivity,' highlighting that bilateral trade between the two countries reached US$19 billion in 2024-25. Despite the significant trade volume, no Chinese bank has yet set up direct operations in Bangladesh, unlike in countries with lower trade volumes with China, such as Cambodia, Sri Lanka, and Myanmar.
The event underscored Bangladesh's priority investment sectors, including the Chinese Economic and Industrial Zone in Chattogram and the Mongla Economic Zone. Discussions revolved around how Chinese companies and their financial institutions could engage in these investment opportunities.
Ashik Chowdhury emphasized the importance of Chinese banks' presence in providing necessary trade financing and investment support to Chinese businesses in Bangladesh. He also noted that Bangladeshi companies require technology and partnerships to expand their operations.
Wang Kang remarked that China Exim Bank is involved in around 40 projects in Bangladesh across various sectors and would encourage Chinese companies to invest in Bangladesh's priority areas, like textiles and healthcare, to aid the country's economic development.
The event concluded with a networking session where Chinese business leaders and bank representatives engaged with the Bangladeshi delegation to discuss foreign direct investment, financing arrangements, and potential partnerships.