China makes deep inroads in India's ally Bangladesh with $33.6 billions mark

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China makes deep inroads in India's ally Bangladesh with $33.6 billions mark

DHAKA (APP) - Bangladeshi and Chinese firms have signed $13.6 billion in trade and investment deals on the sidelines of President Xi Jinping's brief tour to the South Asian nation, a trade group official said Saturday.

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The deals are in addition to $20 billion in loan agreements that the two governments signed on Friday.

"These trade and investment deals are between Chinese companies including some of their state firms and Bangladesh private sector. They are worth $13.6 billion,"Abdul Matlub Ahmad, head of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), told.

"The agreements send a positive signal to the rest of the world that Bangladesh is a safe haven as an investment destination. The Chinese investors are satisfied with the security situation here," he added.

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The deals were signed after the FBCCI, Bangladesh's top trade and business lobbyist group, and the China Council for Promotion of International Trade (CCPIT) organised a two-day tete-e-tete between business officials of both nations on the sidelines of Xi's tour.

"We will invest in investment parks. There are many entrepreneurs in our delegation who want to invest in this country," CCPIT vice-chairman Chen Zhou said, according to local news portal bdnews24.com.