Bangladesh Bank (BB) Governor Md Mostaqur Rahman recently held a meeting with Chinese Ambassador to Bangladesh Yao Wen to explore avenues for strengthening bilateral trade, investment, and financial cooperation. During the discussions at the central bank headquarters, Governor Rahman urged China to increase imports of Bangladeshi products to help reduce the bilateral trade deficit. He also sought China's expertise and technical assistance in implementing Bangladesh's Bangla QR payment system, drawing inspiration from China's Single QR framework to advance the country's digital payment ecosystem.
Ambassador Yao Wen highlighted the importance of creating a more investment-friendly environment to attract greater foreign investment in Bangladesh. In response, Governor Rahman informed the ambassador that Bangladesh Bank has introduced several policy measures to support foreign investors, making it easier for them to repatriate their invested capital and profits. He extended an invitation to Chinese investors to expand their investments in Bangladesh, particularly in technology-based industries and the manufacturing sector.
The meeting was attended by Chinese Embassy Counsellor Song Yang and Attaché Wen Jinhua, along with Bangladesh Bank Deputy Governors Dr. Habibur Rahman and Md. Sarwar Hossain. The discussions reflected a mutual commitment to enhancing economic ties between the two nations, with a focus on leveraging technology and investment to foster growth and development.
Bangladesh's push for greater Chinese imports and technology cooperation comes at a time when the country is seeking to diversify its export markets and modernize its financial systems. The Bangla QR payment system, modeled after China's successful Single QR framework, aims to streamline digital transactions and promote a cashless economy.
As Bangladesh continues to attract foreign investment, the government is implementing policies to create a conducive environment for investors. The central bank's efforts to facilitate capital repatriation and profit remittances are expected to encourage more foreign companies to invest in the country's growing technology and manufacturing sectors.
