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The aborted Bangladesh-China-India-Myanmar Economic Corridor (BCIM) under the Belt and Road Initiative (BRI) could have brought much prosperity for the region if materialised, former industries minister Dilip Barua said.
The project did not see the light of day as a neighbour quit it, he told a photo exhibition and discussion on the 10th founding anniversary of BRI on Tuesday.
"BRI has various infrastructure projects and we had economic corridor under BRI. But our neighbour withdrew itself from the project," added Mr Barua, also general secretary of the Communist Party of Bangladesh (Marxist-Leninist).
The Bangladesh China Silk Road Forum organised the event at a city hotel with Dilip Barua, who is the chairman of the forum, in the chair.
Indicating the India-Middle East-Europe Economic Corridor (IMEC), which was initiated through signing a MoU during the 2023 G20 New Delhi Summit, he said India is now initiating another economic corridor.
BCIM is a proposed corridor connecting India and China through Myanmar and Bangladesh while IMEC will connect India, the United States, the UAE, Saudi Arabia, France, Germany, Italy and the EU.
IMEC is a counter to BRI, commented Mr Barua.
Speaking as the chief guest, planning minister Abdul Mannan said Bangladesh has received loans from China on good conditions and through amicable negotiations.
Citing that China is a leading Asian neighbour of Bangladesh, he said: "China has been there for thousands of years. Now, we see a rejuvenated China."
"We don't have enmity or favour for any country, we decide projects based on our benefits and needs."
Mr Mannan said Bangladesh has diverse projects and collaboration based on mutual respect and trust with China.
As Bangladesh lags behind in the infrastructure sector, including rail, road and power, he said, "We revamped them with Chinese loans." Bangladesh can be benefited more by sharing technology from China.
"We have deficit in technology. So, we want collaboration in that area," said the minister, adding that both countries have so many things to give and take.
Speaking as the special guest, Chargé d'Affaires of Chinese Embassy in Bangladesh Yan Hualong said China would continue to assist Bangladesh in its development.
"China is proud to be part of the development of Bangladesh," he added.
Former Bangladesh high commissioner to China Munshi Faiz Ahmed said the mission of BRI is to establish connectivity, infrastructure and shared prosperity.
"BRI is a Chinese idea but China doesn't own it alone, all the participating countries own it," he added.
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