Dhaka, Beijing hold talks in city on prospects for BCIM

Dhaka and Beijing discussed Sunday prospects for the proposed Bangladesh, China, India, Myanmar (BCIM) Economic Corridor and agreed to consult the modalities of the idea with other parties, including emerging economic power India, UNB reports.

The home side at the meeting showed its keenness to be an active part of the proposed economic corridor linking the four eastern South Asian countries with view to expanding trade and investment and people-to-people contact apart from strengthening connectivity in the BCIM region.

Foreign Secretary M Shahidul Haque presided over the meeting held at State Guesthouse Meghna in the city. Chinese ambassador Li Jun was also present at the meeting.

The Chinese delegation placed a draft of the proposed framework of the economic corridor which was earlier given to India.

The Chinese delegation comprising eight officials, led by Deputy Director of the National Development and Reform Commission of China, Lin Dajian, and officials from the Foreign Ministry, Commerce Ministry, Communications Ministry, Shipping Ministry, Power, Energy and Mineral Resources Ministry and Economic Relations Division (ERD) were present at the meeting.

The four countries are now planning to hold a joint working group meeting in Beijing by December this year to form a common platform to work out further strategies on the proposed plan, meeting sources said.

"We had a very fruitful discussion. This is a very good initiative. Things are still at the initial stage. We can update the issue after Eid," a senior official who attended the meeting said, wishing not to be named.

Bangladesh has been giving due importance to the matter as two emerging economic powerhouses, like China and India, are part of it, creating a scope for Bangladesh to benefit from its location right in the middle of the region covered.

Construction of a highway from Kunming in China to Kolkata through Myanmar, northeast India and Bangladesh, is being highlighted in the forum as it may turn into a gateway for boosting trade and investment in South and Southeast Asia, officials said.

The BCIM region is one of the richest in the world in terms of natural and mineral and other resources, according to CPD.

An important resource of the region is the huge reserve of natural gas in Bangladesh. Besides, there is a very good reserve of coal in West Bengal and Assam, it said.

Proper implementation of this sub-regional cooperation could combine the resources of the constituent members in order to gain competitive edge in attracting both domestic and foreign investments and promoting export to the mutual benefit of the members involved.

http://www.information.myanmaronlinecentre.com/dhaka-beijing-hold-talks-in-city-on-prospects-for-bcim/