During his recent four-day visit to China, Bangladesh's interim chief Muhammad Yunus urged Beijing to make the ocean-facing part of Bangladesh an extension of the Chinese economy.
Inviting deeper Chinese economic engagement through Bangladesh, Yunus said, "Seven states of India, Eastern part of India called seven sisters, they are landlocked country. They have no way to reach out to the ocean. We are the only guardians of the ocean in this region. This opens up a huge possibilities. This could be an extension of the Chinese economy - Built, produce and market things, bring it back to China, export to the rest of the world."
Economist and member of the Economic Advisory Council to the Prime Minister, Sanjeev Sanyal shared the video of Yunus' speech and questioned the logic behind him invoking India's internal geography in an economic pitch to Beijing.
Interesting that Yunus is making a public appeal to the Chinese on the basis that 7 states in India are land-locked. China is welcome to invest in Bangladesh, but what exactly is the significance of 7 Indian states being landlocked? https://t.co/JHQAdIzI9s
Sanjeev Sanyal (@sanjeevsanyal) March 31, 2025
Yunus has also signed nine agreements after meeting with President Xi Jinping. The agreements span various sectors, including economic and technical cooperation, infrastructure, media, culture, and health.
Yunus made a direct pitch to Beijing, urging it to position Bangladesh as its key regional partner for production, logistics, and trade.
During his visit, Yunus also expressed Bangladesh's openness to Chinese involvement in the Teesta River Comprehensive Management and Restoration Project. This project, along with the modernization of Mongla Port, was previously associated with India during the Sheikh Hasina administration.
He also requested China to provide a 50-year master plan for managing rivers and floods in Bangladesh. Additionally, he urged a reduction in interest rates on Chinese loans to Bangladesh, proposing a decrease from the current 3% to between 1-2%. He also sought the waiver of commitment fees on Chinese-funded projects in the country.
Yunus is now scheduled to attend the BIMSTEC Summit in Bangkok, where he has requested a meeting with Prime Minister Narendra Modi — a request India has not yet confirmed.
As Beijing expands its influence in the region, Yunus’ positioning of Bangladesh towards China signals a clear shift in Dhaka’s diplomatic and economic alignment, moving closer to China and away from India.
Yunus formed the interim government in Bangladesh on August 8, 2024, following the resignation and flight of Prime Minister Sheikh Hasina on August 5, 2024. The resignation came amid widespread student and public protests across Bangladesh against the Hasina regime.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!