Bangladesh to seek Chinese help to build deep sea port

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Bangladeshi Prime Minister Sheikh Hasina is likely to seek Chinese funding to build a deep sea port in the Bay of Bengal when she visits Beijing later this week, officials said on Wednesday.

The proposed port on Sonadia Island off Bangladesh’s southeast coast would cost billions of dollars, but Bangladeshi newspapers have reported that Hasina hopes Beijing will pay part of the bill if a Chinese firm wins the contract.

The country’s foreign ministry said the port would feature in the bilateral discussions when Hasina travels to China on Friday on a six-day visit.

“During the tour the two nations may discuss Chinese assistance for the Sonadia Deep Sea Port,” Foreign Minister Mahmood Ali told journalists on Wednesday at a briefing two days ahead of Hasina’s departure for Beijing.

Another senior official in the prime minister’s office confirmed that the port project was expected to feature in discussions although he wouldn’t say whether any kind of deal would be signed.

The country’s largest circulation Bengali daily, Prothom Alo, has reported that state-owned China Harbour is in line to build the port.

It said an announcement to this effect would be made after the meeting between Hasina and her Chinese counterpart Li Keqiang on June 9.

A framework agreement, proposed by China, to construct the port could be signed during the tour, it said.

Hasina was keen to award the project to Chinese firms in 2009-14 when she led a coalition government, but held back for fear of upsetting India, a major ally of her government.

If a Chinese company were to be awarded the contract, Sonadia would become the fourth port to be constructed by a Chinese firm in the Bay of Bengal, deepening Beijing’s footprint on one of the important sea routes of the world.

Chinese companies have previously built ports in Sri Lanka, Pakistan and Myanmar.

Bangladeshi experts said the country badly needs a deep sea port after years of double-digit expansion of its foreign trade. Dhaka’s economy has grown six percent a year for more than a decade.

Dhaka’s annual trade through its two sea ports currently stands at around US$60 billion.

The trip to Beijing will be Hasina’s second major overseas trip since she retained power in a January general election which was marred by widespread fraud and an opposition boycott. Last month she visited Japan.

 

 

 

 

 

 

Source : Channel News Asia | June 5, 2014

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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