Dhaka urges Beijing to start operations of Chinese bank in Bangladesh

Bangladesh’s state minister of commerce Ahsanul Islam conveyed this to the Chinese government as the yuan has been recognised by the former as the official currency since last month to facilitate trade with China, he told an event in Dhaka.

As the bilateral trade gap with China is substantial—around $22 billion—raising China's investment in the country is essential to narrowing this gap, Ahsanul said.

“We can potentially reduce this disparity by re-exporting products made through China's investment," he was quoted as saying by domestic media outlets.

China is keen to have more transactions with Bangladesh using taka or yuan instead of the US dollar amid the ongoing dollar rate fluctuation, the former’s ambassador to the latter Yao Wen had said a few days back.

“Now it's a worldwide problem. This is the fluctuation of the dollar rate because of the financial and the monetary policy of the US. So, the global south, the developing countries as well as China also are facing the same problem. This is something where China wishes to work with Bangladesh," he had told reporters after a meeting with Bangladesh planning minister Maj Gen (Retd) Abdus Salam.

Fibre2Fashion News Desk (DS)