India and Bangladesh Strengthen Ties with Key Agreements

India and Bangladesh Strengthen Ties with Key Agreements

VoM News Desk | September 9, 2023 | 02:04 AM IST | Breaking News, World | Follow on Google News

India and Bangladesh Strengthen Ties with Key Agreements.

Cooperation in Digital Payments and More

In a significant move to enhance bilateral ties and cooperation between India and Bangladesh, Prime Minister Narendra Modi and Bangladesh’s Prime Minister Sheikh Hasina engaged in a series of discussions and signed three crucial memoranda of understanding (MoUs) during their recent bilateral talks held in New Delhi.

Digital Payment Mechanisms and Cultural Exchange Program Renewal

The first of these MoUs focuses on cooperation in Digital Payment mechanisms, solidifying the commitment of both nations to enhance the digital financial landscape. This agreement was signed between the National Payments Corporation of India (NPCI) and Bangladesh Bank, laying the groundwork for future collaboration in the realm of digital transactions.

The second MoU pertains to the renewal of the Cultural Exchange Program (CEP) between India and Bangladesh for the period of 2023-2025. This agreement underscores the countries’ shared cultural heritage and their commitment to fostering cultural ties through exchanges and collaborations.

Agricultural Research Collaboration

The third and equally important MoU was signed between the Indian Council of Agricultural Research (ICAR) and the Bangladesh Agriculture Research Council (BARC). This agreement emphasizes the significance of agricultural research and cooperation in addressing food security challenges and promoting sustainable agriculture practices.

Comprehensive Economic Partnership Agreement (CEPA)

Prime Minister Narendra Modi and Prime Minister Sheikh Hasina expressed their eagerness to initiate negotiations on the Comprehensive Economic Partnership Agreement (CEPA). This comprehensive agreement will cover various aspects, including trade in goods, services, and measures aimed at protecting and promoting investments between the two nations.

Wide-Ranging Bilateral Cooperation

During the bilateral talks, both leaders discussed an array of issues, reflecting the depth and breadth of India-Bangladesh cooperation. These discussions encompassed political and security cooperation, border management, trade and connectivity, water resources management, power and energy initiatives, development collaboration, and cultural exchanges, as well as people-to-people linkages.

Additionally, the leaders also delved into recent regional developments and explored opportunities for collaboration in international forums.

Joint Inauguration of Key Projects

Prime Minister Modi and Prime Minister Sheikh Hasina expressed satisfaction with the progress of ongoing development cooperation projects. They eagerly anticipate the joint inauguration of several vital projects, including the Agartala-Akhaura Rail Link, Unit-II of the Maitri Power Plant, and the Khulna-Mongla Rail Link. These initiatives hold significant promise for enhancing connectivity and promoting economic development in the region.

Support for Rohingya Refugees

Recognizing the regional situation in Bangladesh, Prime Minister Modi extended appreciation for the country’s significant humanitarian efforts in hosting over a million people displaced from Rakhine State in Myanmar. India reaffirmed its commitment to providing constructive and positive support to finding safe and sustainable solutions for the repatriation of Rohingya refugees.

Continued Collaboration and Extensive Engagement

The leaders of India and Bangladesh expressed their mutual desire to strengthen collaboration at all levels and to continue expanding their extensive engagement. These agreements and discussions reflect the shared commitment of both nations to fostering cooperation, enhancing economic ties, and promoting regional stability.

VoM News Desk

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