Belt and Road Initiative (BRI) is a leading project of China to foster economic connectivity, promote industrialization and common development of participating countries and people, said the Deputy Speaker of Bangladesh Parliament Fazle Rabbi Miah.

"We highly appreciate the Belt and Road Initiative," the senior parliamentarian of Prime Minister Sheikh Hasina's ruling Bangladesh Awami League party told Xinhua Sunday.

"We do support (the initiative). It is not only needed for this region but for the whole world," he said, adding the whole Asia including Bangladesh's two next door neighbors India and Myanmar will immensely benefit from this Initiative.

"Bangladesh recognizes the importance of BRI in strengthening connectivity, promoting exchange of commodity, technology, capital and talent to achieve common prosperity," said Miah at the launching ceremony of two new organizations, China-Bangladesh Friends of Silk Road Club and the Silk Road Community Building Initiative in Bangladesh, held in Dhaka on Sunday.

On China-Bangladesh relations, he said both countries maintain extremely warm relationship and have developed strong cooperation in various fields.

He said the BRI will help enhance the alignment of the development strategies of both countries, fully tap the potentials of cooperation in various areas, so as to realize sustainable development and prosperity of the two countries.

In 2016, Relationship between Bangladesh and China was elevated to "strategic partnership of cooperation" and consensus was reached between both sides to expand bilateral cooperation in a number of key areas, he said.

Currently China is financing some infrastructure projects in Bangladesh including bridges, roads, rail link, power, energy, telecommunication, ICT, water treatment, he said.

China has always been a champion for world peace, a contributor to global development and a protector for international order. It (China) insists on dialogue and negotiation as the proper solution to disputes, he said.

"I look forward to working in close cooperation to further enhance our engagements and strengthen the bonds of friendship between our two countries and peoples."