China and Bangladesh pledged to push for early agreement on an economic corridor that will benefit at least 3 billion people in four countries.

Premier Li Keqiang said China encourages businesses to open joint-venture companies in Bangladesh, and the government is willing to cooperate with Bangladesh in science and technology, agriculture, marine development and disaster prevention.

China said it will set up a hybrid rice laboratory in Bangladesh.

"Regional stability in South Asia extends beyond Asia to the whole world. China and Bangladesh will work hand-in-hand to strengthen multilateral cooperation in the region to tackle global challenges," Li said.

Bangladeshi Prime Minister Sheikh Hasina, on her third visit to China as prime minister, said that China has always been a reliable and dependent partner for her country and has contributed greatly to its development.

"We have observed, with great respect and admiration, your spectacular economic progress under your wise and visionary leadership. ... Bangladesh welcomes the peaceful rise of China and hopes to remain an active partner in this China-led century," she said.

Dhaka hopes to deepen cooperation with Beijing in trade, infrastructure construction, agriculture, science and technology, marine development, telecommunication and people-to-people exchanges, she said.

China raised the idea of building a Bangladesh-China-India-Myanmar Economic Corridor during Li's visit to India last year. The countries established an inter-government system to help boost economic cooperation in December.

The proposal was part of a wider plan to revive a trade route that was once an artery of the southern Silk Road linking Southern China with Southern Asian countries.

The proposed route is expected to create a fast and efficient link between Kunming in China's southwestern Yunnan province and Kolkata, a major city in eastern India, while also connecting the cities of Mandalay in Myanmar, and Dhaka and Chittagong in Bangladesh.

Jin Canrong, a professor at the School of International Studies at Renmin University of China, said the plan bears great economic and political significance.

"Connectivity through deep sea ports and joint development of common resources will give a boost to economic growth, help reduce poverty and enhance the standards of living in the region," he said.

Trade volume between China and South Asian countries increased from $35 billion in 2006 to about $100 billion in 2013.

zhaoyinan@chinadaily.com.cn