Prospects and Challenges For Bangladesh-China Comprehensive Economic Partnership: A Bangladesh Perspective

Currently, Bangladesh and China have an all weather friendship despite Chinese opposition to Bangladesh’s liberation war in 1971. Strong political will, deep mutual economic interests, strategic location of Bangladesh and also cultural linkage since ancient period have contributed to take this relationship to a new height; they declared to form a ‘closer comprehensive partnership’ in 2011. To become a middle income country, Bangladesh badly needs inclusive economic development, and evidently China, a 100 mile away neighbour, has a keen interest to accelerate Bangladesh’s development, of course not without her self-interests. China pursues ‘neighbourhood policy’, an innovative idea through which it wants to maintain the future economic growth, and achieve a win-win economic cooperation to build a common destiny with its neighbours. There are vast prospects for a robust economic partnership between Bangladesh and China. Nevertheless, the prospects are not without challenges; external and internal challenges impediment smooth sailing of the partnership. China’s increasing sphere of influence in the Bay of Bengal has been a concern for other great powers particularly for India. They apprehend that Chinese growing influence can jeopardise their security and strategic interests and vice versa. This paper argues that being a small economy, Bangladesh has no better option but to maintain a good relation with all the big powers/development partners. It can gain more if it maintains a balanced relation with both India and China. Considering the future development of Bangladesh, a robust economic partnership with China should be given more priority than the military/strategic one