A roundtable discussion was held to discuss the aspects and prospects of China’s ‘One Belt, One Road’ (OBOR), initiativeand how Bangladesh can derive benefits from it.
The Daily Prothom Alo in association with Standard Chartered Bank organized the discussion at the newspaper’s office on 11 June where economists, bankers, business leaders, and academics took part to share their expert opinions on various issues of the OBOR.
Planning Minister AHM Mustafa Kamal, FBCCI President Md. Shafiul Islam, BGMEA Vice President (Finance) Mohammed Nasir, President of Dhaka Chamber of Commerce and Industry Abul Kashem Khan, Chairman of Bangladesh Institute Of International Strategic Studies (BIISS) Munshi Faiz Ahmad, Executive Director of CPD Professor Mustafizur Rahman, CEO of Standard Chartered Bank Abrar A. Anwar, Dr. Rashed Al Mahmud Titumir of Dhaka University, among others, participated in the discussion.
While speaking at the roundtable BGMEA Vice President (Finance) Mohammed Nasir said that ‘One Belt, One Road’ project is very important because it will connect Asia, Europe and Africa, creating a vast economic platform.
This region is home to around 62 percent of total global population, accounts for 31 percent of the world’s GDP and 34 percent of the total international trade is done here, he said. So OBOR is very important for Bangladesh in terms of expanding its business and exports in the region, he added.
If implemented, 50 percent of the region areas can be reached within 5 hours. So this will also help to reduce lead time for Bangladesh RMG industry and expand its export to China, East Europe and CIS country, Mohammed Nasir said.
One Belt, One Road is an initiative proposed by China to establish a network of railways, roads, pipelines, and utility grids that would link China and Central Asia, West Asia, and parts of South Asia. It also aims to create the world’s largest platform for economic cooperation, including policy coordination, trade and financing collaboration, and social and cultural cooperation.