HSBC celebrates longstanding Bangladesh-China relationship

The Hongkong and Shanghai Banking Corporation Limited (HSBC) recently organised an event, styled "Bangladesh-China Business Connections", to celebrate the longstanding relationship between China and Bangladesh.

The event brought Chinese businesses and institutions together alongside local businesses and institutions, read a press release.

The event explored Bangladesh's emergence as an attractive investment destination for China's "Belt and Road Initiative" and how Bangladesh is starting to realise the potential of this initiative, resulting in accelerating business, trade and investment activity between the two countries.

During the event, Yan Hualong, minister counselor and deputy chief of mission of the Chinese embassy in Bangladesh, highlighted that Chinese companies have shared their expertise and experience to realise key infrastructure developments under the BRI initiative.

"China stands shoulder-to-shoulder with Bangladesh to help reach its economic goal of becoming a developed country by 2041," he added.

Ge Zhenyu, president of the textile unit of the Chinese Enterprise Association in Bangladesh (CEAB), proposed a collaboration between CEAB and several Bangladeshi organisations such as the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the Bangladesh Investment Development Authority (BIDA), and the Bangladesh Export Processing Zones Authority (BEPZA).

Mahbub Ur Rahman, chief executive officer of HSBC Bangladesh, said: "This bilateral relationship represents a corridor of immense potential, fueled by dynamic economies and strategic partnerships."

Gerard Haughey, country head of wholesale banking, said: "Bangladesh's rapid growth is attracting global investors, including Chinese companies. We stand ready to connect our customers to unlimited opportunities, leveraging our footprint spanning the corridor with our unparalleled propositions and solutions and on-the-ground Chinese speaking dedicated resources."