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China keen for more transactions with Bangladesh in taka, yuan: Envoy

01 Feb '24
1 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • China is keen to have more transactions with Bangladesh using taka or yuan instead of the USD, the former's envoy to the latter Yao Wen recently said.
  • Yao and Bangladesh planning minister Maj Gen (Retd) Abdus Salam discussed possible areas of cooperation between the National Development and Reform Commission of China and the Bangladesh Planning Commission.
China is keen to have more transactions with Bangladesh using taka or yuan instead of the US dollar amid the ongoing dollar rate fluctuation, according to the former’s ambassador to the latter Yao Wen.

“Now it's a worldwide problem. This is the fluctuation of the dollar rate because of the financial and the monetary policy of the US. So, the global south, the developing countries as well as China also are facing the same problem. This is something where China wishes to work with Bangladesh," he told reporters after a meeting with Bangladesh planning minister Maj Gen (Retd) Abdus Salam in Dhaka.

"Maybe one of the ways is to use our own currencies. We approached and are engaging with Bangladesh to see what we can do together to use more of our own currencies instead of the US dollar," he was quoted as saying by Bangladesh media outlets.

Both discussed possible areas of cooperation between the National Development and Reform Commission of China and the Bangladesh Planning Commission. China has shown interest in discussing Bangladesh's Five-Year Plan, Salam said.

ALCHEMPro News Desk (DS)

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