Yunus' 4-day visit to China, meeting with Xi and growing closeness between India’s neighbours

On Wednesday Bangladesh interim government’s Chief Adviser Muhammad Yunus will leave for China where he will hold multiple engagements, including a bilateral meeting with Chinese President Xi Jinping.

Bangladesh Sangbad Sangstha reported that Yunus will address the Boao Forum for Asia (BFA) conference, meet CEOs of giant global and Chinese companies, deliver a lecture at Peking University (PKU), visit hi-tech parks and hold talks with hospital chains to invite them to explore business potential in Bangladesh.

The Yunus-Xi talks are expected to hover around boosting the economy and infrastructure in Bangladesh, including establishment of the Chinese Economic Zone in Chattogram, negotiations around the Bangladesh-China Free Trade Agreement (FTA) and Investment Treaty, signifying Beijing's deepening strategic and economic engagement with the new administration in Dhaka,

According to reports, China is also sending a chartered aircraft to bring Yunus to Beijing.

The visit comes amid the not-so-warm relationship between Bangladesh and India since the ouster of former Bangladesh Prime Minister Sheikh Hasina following the violent student-led protests in August last. 

India-Bangladesh relations   

External Affairs Minister S Jaishankar is learnt to have recently told the Parliamentary Consultative Committee for External Affairs that a request by Bangladesh for a meeting between Yunus and Prime Minister Narendra Modi at the upcoming BIMSTEC Summit was under consideration,

Several MPs had raised concerns on attacks on Hindus in Bangladesh, asking what steps were being taken by India in this regard. 

Jaishankar said the government was engaged with the interim dispensation in Bangladesh at various levels and the issue has been raised, according to reports.

Relations between the two countries have been going downhill since Hasina’s resignation in August last year.

During her tenure, India enjoyed a good relationship with Bangladesh. 

Last month, Jaishankar specifically asked Dhaka to “make up their mind” on how they wanted to maintain relations with India. Bangladesh responded, saying it wants good relations with India but it should be “mutual”.

Meanwhile, growing closeness between Pakistan and Bangladesh on the back of common “anti-India” sentiments has added to the increasing distance between India and Bangladesh. 

The closeness between Pakistan and Bangladesh means heightened security risks for India, strategic realignment in South Asia and possibility of shift in power equations in the region.

China’s growing interest in Bangladesh

After Hasina was overthrown, an interim government was formed in Bangladesh with Yunus as its Chief Adviser.

Since then politics and foreign policy of Dhaka also experienced a major shift.

During Hasina's regime, its foreign policy was guided by her pro-India stance which at times also contributed to China’s displeasure as was evident during her last visit to Beijing.  

From Hasina’s “India-friendly posture” to China’s “increased attention on Bangladesh post-Hasina,” there has been a major change.   

China has always provided financial and engineering/infrastructure assistance to Bangladesh, including in the implementation of mega projects. But the current chill between Bangladesh and India has provided it with an additional opportunity.

In a strategy to counter India’s dominance or establish economic and geo-political supremacy in the region, there is no denying that China is wooing Bangladesh big time. 

Expansion of Bangladeshi exports to China, attracting more FDI, extending the repayment period of loans and boosting trade and investment in Bangladesh are on the agenda during Yunus' four-day visit, according to reports.