While Bangladesh's relations with China have scaled to a level "strategic partnership", Dhaka has always laid stress on trade and economic cooperation. During the prime minister's recent trip to China too, Bangladesh's top priority was assistance for economic advancement including infrastructural development.
Bangladesh had hoped that this trip would see a fruition of the talks being held on loan assistance of USD 5 billion. Bangladesh was also eager to get China on board the Southern Integrated Development Initiative (SIDI), the new plan centering Payra Port. It has also hoped for Chinese funding in several other infrastructural projects.
The matter of China's proposed loan assistance in Chinese currency equivalent go USD 5 billion loan was not settled this time. But there were indications that this would take time. Quoting China's President Xi Jinping, foreign minister Hasan Mahmud told the media that China would provide Bangladesh with grants, interest-free loans and concessional loans. China very soon would send a technical team to Bangladesh for discussions to this end. China had wanted to provide Bangladesh with the USD 5 billion loan as trade assistance, though Bangladesh's priority had been budgetary assistance to meet its financial crisis. In order words, it may take time to resolve the matters through talks at a technical level. China has pledged assistance of 1 billion yuan (1000 crore yuan), equivalent to Tk 1600 crore. This will be provided as a grant.
From the talks with China's president Xi Jinping, prime minister Li Qiang and the Communist Party delegation, as well as the joint declaration at the end of the trip, it is apparent that Bangladesh had overall placed priority on economic cooperation during this trip. And China's priority had been taking relations forward by strengthening political ties and cooperation.
Apparently the USD 5 billion loan assistance pledged by China, urgently required by Bangladesh to resolve financial crisis, has not come through. And while talking of support for new projects like SIDI, it has committed to link these to the Belt and Road Initiative (BRI). In short, Bangladesh's expectations remain unfulfilled. But looking ahead to the future, China has significant commitment to Bangladesh economic advancement.
Though the Bangladesh prime minister's visit, Dhaka-Beijing relations have scaled up from "strategic partnership" to "integrated strategic partnership". This was stated in the joint statement. General speaking when issues of strategic partnership arise, the question of defence and security also arise. But an analysis of the joint statement indicates that China was more focussed on promoting partnership with Bangladesh on a political level through integrated strategic partnership. This was clearly reflected in the joint statement.
For the first time, Bangladesh had recognised Taiwan as an inseparable part of China. And this was reflected in the joint statement
While Bangladesh was particularly focussed on economic cooperation during this visit, China's focus was on developing political relations. That is why China was very interested in Bangladesh's support for its "One China" principle, Taiwan as a inseparable part of China, President Xi Jingping's three initiatives GSI (Global Security Initiative), GDI (Global Development Initiative) and GCI (Global Civilisation Initiative). And China did a bit of bargaining too, to include the concept of the "One China Principle" in the joint statement, rather that the "One China Policy". China claims that "policy" is a western concept and they are more comfortable with the term "principle". This time, for the first time, Bangladesh had recognised Taiwan as an inseparable part of China. And this was reflected in the joint statement.
However, it was clear before Prime Minister Sheikh Hasina's China visit that Bangladesh would not sign the MoU pertaining to GDI unless it was granted the USD 5 billion loan assistance. In fact, Bangladesh would not even mention future involvement in GDI in the joint statement. During talks with Sheikh Hasina on Wednesday at the Great Hall of the People, Xi JinPing requested Bangladesh to join up with GSI, GDI and GCI. But it is learnt, the Bangladesh prime minister did not acquiesce to the Chinese president's request. The joint statement said that the two countries discussed the Chinese president's GDI and other issues. China is prepared to exchange GDI experience with Bangladesh.
Director of research at the National Strategy Institute of China's Tsinghua University, Qian Feng said the visit by Sheikh Hasina is a link between the past and the future for bilateral relations, especially in promoting high-level cooperation in the field of economy and trade.
Overall, a review of this visit indicates that Prime Minister Sheikh Hasina's Beijing visit was not restricted to relations pertaining to the interests of the two countries. It included various elements of regional international interest. Geo-politics and geo-economics were included too. In the second half of last year Beijing had been quite open about the prime minister's visit. The government had taken into consideration pressure from the West including the US regarding the election as well as India's attitude towards proximity with China.
China had been keeping watch on Sheikh Hasina's India visit. India had also been eager to understand what would transpire during Hasina's China visit
The government had made it clear that after the election the prime minister would visit both India and China. China had hoped that the prime minister would visit Beijing before Delhi. In such circumstances, Prime Minister Sheikh Hasina went to Delhi to attend the India prime minister Narendra Modi's swearing-in ceremony. And so for a brief period there were speculations about Sheikh Hasina planned bilateral visit to India. Finally, as planned, she first visited Delhi and then Beijing.
Political analysts say from the Delhi and Beijing visits of prime minister Sheikh Hasina over the past three weeks, it is clear that like China, the discussions with India were limited to bilateral issues. An important decision emerged concerning water management of Teesta, one of the main rivers of the 54 common rivers of the two countries. As a result, China's expansion project concerning Teesta has been placed on the shelf for the time being. China had been keeping watch on Sheikh Hasina's India visit. India had also been eager to understand what would transpire during Hasina's China visit.
Journalists had questioned the Indian external affairs minister Vinay Kwatra about prime minister Sheikh Hasina's China visit. The Indian external affairs minister made it clear that India was extremely interested in this visit. At the briefing of the Indian external affairs ministry, Vinay Kwatra said that the talks between the two leaders had been focussed on bilateral cooperation. There were talks on the strategic and security challenges of the two countries and the scope to tackle these challenges. So the issue of a third country naturally emerged in the discussions.
Bangladesh's former ambassador to China, Munshi Faiz Ahmed, said that geopolitics and geoeconomics were discussed before and are still being discussed. But China wants Bangladesh as a partner. Unlike other countries, it does not put pressure to choose sides. This visit was quite good. Relations were elevated to another level. As for loans, it has been said that a technical team will visit Bangladesh to discuss the details. The joint statement also mentioned support for SIDI, linking this to BRI. Overall, this gives indications future cooperation.