Bangladesh and China agree on local currency in bilateral trade

Bangladesh and China have agreed to enhance cooperation in financial regulation, and encouraged increased use of local currency settlement in bilateral trade, according to a joint statement issued after Prime Minister Sheikh Hasina's three-day official visit to Beijing.

Hasina returned home early hours of Thursday after talks with Chinese President Xi Jinping and Prime Minister Li Qiang.
 
The Bangladesh side welcomes Chinese banks to establish branches in Bangladesh, and vice versa.

Bangladesh and China agreed to strengthen coordination in international and multilateral affairs, and expressed readiness to further coordinate positions and build broader consensus in multilateral processes concerning international peace and security, sustainable development, human rights, humanitarian affairs, climate change, energy transition and environmental protection, to jointly safeguard the common interest of developing countries.

The two sides discussed various aspects of the Global Development Initiative (GDI) put forward by President Xi Jinping. The Chinese side is ready to share experience on GDI issues with the Bangladesh side. The Chinese side also presented the Global Security Initiative (GSI) and the Global Civilization Initiative (GCI) to the Bangladesh side to ensure peace, development and shared prosperity for all.
 
PM Hasina paid an official visit to China from July 8 to 10 at the invitation of Premier Li. During the visit, Hasina had a meeting with Xi and met with Wang Huning, chairman of the National Committee of the Chinese People's Political Consultative Conference.
 
In a cordial and friendly atmosphere, the two sides had in-depth exchange of views on bilateral relations and international and regional issues of mutual interest, and reached extensive consensus. The Bangladesh side congratulated the Chinese side on the 75th anniversary of the founding of the People's Republic of China, and applauded China's historic achievements and transformation in economic and social development in the new era.

Bangladesh lauded China's efforts to build itself into a great modern socialist country in all respects and advance the great rejuvenation of the Chinese nation on all fronts through the Chinese path to modernisation, and expressed sincere wish for China to realise the Chinese dream of national rejuvenation as scheduled.

The Chinese side applauded the achievements of Bangladesh in economic and social development, and expressed continued support for Bangladesh's graduation from the UN Least Developed Countries (LDC) status in 2026 as scheduled and Bangladesh's steady progress toward realising its Vision 2041 of a 'Smart Bangladesh'. The two sides applauded their strategic partnership of cooperation established in 2016, and agreed that the China-Bangladesh relationship has reached a new height.

Leaders of the two countries agreed to stay committed to the Five Principles of Peaceful Coexistence, carry forward the long-standing friendship, foster greater synergy between development strategies of the two countries, advance the Belt and Road cooperation, and elevate the bilateral relationship to a comprehensive strategic cooperative partnership.

The two sides decided to take the opportunity of celebrating the 50th anniversary of the establishment of China-Bangladesh diplomatic relations in 2025 to plan together for the future development of bilateral ties and take the China-Bangladesh relationship to another new height. The two sides agreed that China and Bangladesh have been good neighbours and good friends since ancient times, sharing a millennium-old history of friendly exchanges.

Over the past 49 years since the establishment of diplomatic relations, the traditional China-Bangladesh friendship forged by generations of leaders of both countries has grown from strength to strength. The two countries have always respected each other, treated each other as equals, and pursued mutual benefits.