China agrees to transfer high-yield rice technology to Bangladesh

China will transfer technology of its indigenous high-yield rice variety to Bangladesh as part of agricultural cooperation.

Foreign Minister Abul Hassan Mahmood Ali, briefing journalists about the just-ended visit of Wang Yi, said on Monday his Chinese counterpart also informed him about taking “necessary steps” for setting up a rice research centre in Bangladesh.

He said the visit had been “very successful” as new areas of cooperation emerged and believed that it had strengthened the existing Dhaka-Beijing relations further.

“It’s a big development (transferring technology of high-yield rice),” he said.

He said Bangladesh would need to increase food production by the day on this small arable land.

He said the technology transfer of a variety of rice would help in this regard.

Ali mentioned Bangladesh’s rice export to Sri Lanka, its first to any country, and said they would also export to India’s north-eastern Tripura state to meet its need.

The Chinese foreign minister’s visit was aimed at reviewing the progress of the commitments both sides had made during Prime Minister Sheikh Hasina’s Beijing visit in June.

It was also aimed at mapping out the details of joint celebrations marking the 40th anniversary of the establishment of diplomatic ties next year when Dhaka expects the Chinese president down here.

The foreign minister said China would take 100 young Bangladeshi to visit the country as part of the celebrations next year.

He said they were expecting a “top level visit” during the inauguration of the work of building a tunnel beneath the Karnafuli River.

China would finance the nearly $1.2 billion project.

He said China also endorsed Bangladesh’s vision of acting as a bridge between South Asia and Southeast Asia due to its strategic geographical location.

It also assured Dhaka of helping it to become a member of the Shanghai Cooperation Organisation (SCO) and Asia Pacific Economic Cooperation (APEC).

Both sides also agreed to work closely during next year’s multi-lateral discussions for adopting post-2015 development agenda and climate change talks.

They also stressed the need for quick implementation of the proposed Bangladesh, China, India and Myanmar, or BCIM, economic corridor.

During the bilateral meeting, China proposed to initiate free trade agreement (FTA) negotiations to what the foreign minister said narrow down the trade imbalance.

Ali said they would discuss with stakeholders before starting negotiations on the matter as some analysts say FTA could widen the trade gap even further.

He said the Chinese side during the bilateral talks told them that they would address any concerns when the talks begin.

He said the Chinese foreign minister termed Bangladesh an “important neighbour” and stressed on bilateral cooperation to strengthen the friendly relations.

Five priority areas of cooperation – trade, agriculture, industry, energy, and infrastructure – have been identified.

China also welcomed Bangladesh’s proposal of forming a joint working group on trade and industry and bilateral investment forum.

The issue of the Specialised Economic Trade Zone that Bangladesh offered to China during Hasina's visit was also discussed.

The Chinese foreign minister said their companies were also eager to relocate factories to Bangladesh.

He promised Chinese cooperation in setting up power plants and exploring oil and gas.