He said trade does not depend only on market facilities. Its expansion also depends on the process.
“That is why, we have to take into consideration the issue of non-tariff barriers for the sake of the future of relations in getting 100 per cent benefits for the Bangladeshi products in the Chinese market,” Debapriya Bhattacharya.
Putting emphasis on bringing changes in the process of Chinese loans to Bangladesh, he said that if you look at Bangladesh’s foreign loans, you will see that about US $5.6 billion will go to China. It is about 10 per cent of Bangladesh’s total foreign debt. As a result, debt repayment has become a growing challenge for Bangladesh.
Debapriya further said Chinese debt includes supply debt, which has a shorter repayment period. The grace period is also less. Besides, the terms are stricter and commitment charges are higher. It should be considered if there are opportunities to bring changes in those in the future.
He pointed out that the Karnaphuli tunnel will not be financially sustainable unless there is proper Chinese investment in the designated specialised industrial zone for China in Anwara of Chattogram.
More transparency should be brought for the sake of future relations between the two countries, he argued.