The India Bangladesh Agreement

 ~Preet


India, Bangladesh likely to sign at least six agreements | Latest News India - Hindustan Times
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Bangladesh's Prime Minister recently visited India and met with the Indian Prime Minister. India and Bangladesh have inked seven agreements for cooperation spanning from river water sharing to space exploration, as well as launched new connectivity and energy initiatives. 

The two sides have signed seven Memorandums of Understanding (MoU), including one on removing water from the cross-border Kushiyara river. The arrangement would assist southern Assam in India and Bangladesh's Sylhet area. Cooperation in space technology, collaboration on information technology systems used by railways in areas such as freight movement, science and technology cooperation, training of Bangladesh Railway personnel and Bangladeshi judicial officers in India, and cooperation in broadcasting between Prasar Bharati and Bangladesh Television were also areas of agreement.

The two countries presented the first unit of the Maitree super thermal power plant, developed in Bangladesh's Khulna division using India's concessional finance. The unit was synced with Bangladesh's power system in August 2022, and the project would generate 1,320MW when finished. The 5.13-kilometre Rupsha rail bridge, a vital component of the 64.7-kilometre Khulna-Mongla port vast gauge railway project, was also opened. The bridge was built with a $389 million Indian line of credit. It would improve communication with Mongla, Bangladesh's second biggest port.

India has donated USD 9.5 billion in concessional loans for infrastructure projects in Bangladesh, including rail connection between Khulna and Dhaka, Chilahati, and Rajshah. The cost of connecting Mongla port with Darshana-Gede is USD 312 million. The Parbatipur-Kaunia rail project, which would simplify fuel delivery, will cost USD 120 million. Road construction equipment and machinery worth USD 41 million are being supplied to repair and maintain Bangladesh's road network.

India provided a USD 500 million defence Line of Credit (LoC) to Bangladesh in 2018. In May 2018, a Memorandum of Understanding was signed between the Defence Public Sector Undertaking of Kolkata and Bangladesh to give support and know-how in designing and building warships. Dhaka has released a wish list of military platforms and systems from India that its armed services want to acquire.

According to India's Prime Minister, India and Bangladesh will begin discussing a Bilateral Comprehensive Economic Partnership Agreement (CEPA) shortly. The CEPA is anticipated to focus on trade in products, services, and investment, with a primary goal of closing the two nations' trade imbalance. Bangladesh is preparing to transition into a developing country by 2026; it may no longer be eligible for trade privileges that it presently enjoys as a least-developed country; it is eager to sign the CEPA within a year.

In 2021-22, Bangladesh will be India's largest trading partner in South Asia and the fourth largest destination for Indian exports globally. Exports to Bangladesh increased by more than 66%, from USD 9.69 billion in the fiscal year 2020-21 to USD 16.15 billion in the fiscal year 2021-22. Despite difficulties caused by Covid-19, bilateral commerce increased 44% from USD 10.78 billion in 2020-21 to USD 18.13 billion in 2021-22.

There should be attempts to settle outstanding concerns such as water sharing, continental shelf difficulties in the Bay of Bengal, reducing border incidents to zero, and regulating the media. Bangladesh's Prime Minister expressed optimism that the two nations will agree on sharing the Teesta River's resources, which has been delayed since 2011. Bangladesh has already expressed concern over implementing the National Register of Residents (NRC) in Assam, an effort to identify actual Indian citizens residing in Assam and filter out unlawful Bangladeshis. Bangladesh is an active participant in the Belt and Road Initiative (BRI), whereas Delhi has not joined. Bangladesh is also a key beneficiary of Chinese military equipment, particularly submarines, in the security sector.



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