India, June 28 -- China has secured the right to develop a major economic zone at Bangladesh's Mongla Port after Dhaka withdrew an India-backed project that had remained stalled for nearly a decade, marking a significant shift in the strategic landscape of the Bay of Bengal.

The Bangladesh Economic Zones Authority (BEZA) on 25 June signed a memorandum of understanding with China Civil Engineering Construction Corporation (CCECC) to develop the China-Bangladesh Mongla Port Economic Zone on a 110-acre site adjacent to the country's second-largest seaport. The agreement was signed during Prime Minister Tarique Rahman's visit to Beijing as the two countries expanded cooperation in infrastructure, trade and connectivity.

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