Connectivity is essential to improve mutual cooperation. In this context, China and Bangladesh have negotiated and decided to build a 900 km highway project to connect Chittagong and Kunming through Myanmar. This highway would allow Bangladesh to enter the Mekong subregion, of which China is already a part, would speed up trade and facilitate people-to-people contacts. The Economic and Technical Cooperation Agreement and a framework agreement on a concession loan granted by China to Bangladesh are two important contracts signed between the two nations. In order to close the massive trade gap between them, China has not only provided economic assistance to Bangladesh, but has also signed the Asia-Pacific Trade Agreement (APTA) to remove customs barriers for goods imported from Bangladesh. Bilateral trade amounted to $7 billion in 2010. China has proposed to develop natural gas resources and nuclear power plants in Bangladesh to meet its growing energy needs. China`s Yunnan Province has sought economic cooperation with Bangladesh to gain access to the Bay of Bengal. Bangladesh has also proposed the establishment of a special economic zone for China. There are different facets in Sino-Bangladeshi relations. The two countries share defence, economic, political and people-to-people relations. 16. The two sides agreed to strengthen cooperation within the United Nations and other international organizations, including by improving coordination and cooperation on global issues such as development, energy, food security and other issues related to the challenges and appeals of developing countries, and will work together to promote peace, security, development and prosperity in the region and in the world.
The two sides agreed to strengthen coordination within international trade, economic and financial organizations and to support efforts to establish a fairer and more reasonable international economic order and consolidate South-South cooperation. Diplomatic relations between Bangladesh and China were established in 1976, five years after Bangladesh`s independence. Consolidating and strengthening China-Bangladesh friendship and cooperation serves the fundamental interests of the two countries, meets the common aspirations of their people, and promotes peace and development in the region and the world. That is why the two sides have decided to create a “closer comprehensive partnership” from a strategic point of view based on the principles of friendship, equality and mutual benefit. China-Bangladesh relations are not only a matter of closer and comprehensive cooperation, but also a dynamic process that has been transformed from economic partnership to strategic partnership. 20. During the visit, the two sides signed documents relating to cooperation in areas such as energy, economy and technology, investment, hydrology and cultural contacts. . .