Why in the News?

• Bangladesh’s Prime Minister Sheikh Hasina was on an official visit to India for two days.
• She held bilateral talks with Prime Minister Narendra Modi in New Delhi.

What’s in Today’s Article?

• Background
• Key Highlights of the Bilateral Meet
• News Summary

Background:

• During her state visit to India on June 21-22, 2024, at the invitation of Prime Minister Narendra Modi, Bangladesh Prime Minister Sheikh Hasina and PM Modi discussed strengthening India-Bangladesh relations.
• Their partnership, deeply rooted in historical, linguistic, cultural, and economic ties, has grown over the past decade, inspired by their shared history and new aspirations for the 21^st

Key Highlights of the Bilateral Meet:

• The two leaders outlined a Shared Vision for peace, prosperity, and development, focusing on connectivity, commerce, and collaboration. Key points include:
• Future-Oriented Partnership: Recognizing the interconnected progress and prosperity of both nations, they emphasized guiding India-Bangladesh ties towards a future-oriented partnership, aligning with "Viksit Bharat 2047" and "Smart Bangladesh Vision 2041".
• Transformative Connectivity: They aim to turn geographical proximity into economic opportunities through multi-modal transport, cross-border trade, energy, and digital connectivity. India will extend transit facilities for Bangladeshi goods to Nepal and Bhutan and operationalize the BBIN Motor Vehicle Agreement.
• Power and Energy Collaboration: The countries will develop intra-regional electricity trade, including clean energy from India, Nepal, and Bhutan, and expedite the construction of high-capacity grid interconnections.
• Digital and Green Partnership: They will collaborate on digital and green technologies, leveraging these to foster economic growth, sustainable development, and regional prosperity, including the joint development of a small satellite for Bangladesh.
• Trade and Investment: The leaders agreed to strengthen trade and investment links, including early negotiations for a Comprehensive Economic Partnership Agreement (CEPA) and operationalizing Special Economic Zones in Bangladesh.
• Water Resource Management: They will prioritize data exchange and formulating interim water-sharing frameworks, including renewing the Ganges Water Sharing Treaty and managing the Teesta River.
• Defence Cooperation: The nations will strengthen defence ties, including industrial cooperation and multifaceted military engagements, to modernize the Bangladesh Armed Forces.
• Development Cooperation: They will expand development cooperation, focusing on capacity building for civil services, judicial officers, police, and other specialized services.
• Cultural and Historical Ties: Promoting exchanges among scholars, artists, tourists, and students, they will support the Muktijoddhas and their families with new programs for medical and educational support.
• Cross-Border Travel: India will extend e-Medical Visa facilities to Bangladeshi citizens and open a new Assistant High Commission in Rangpur to facilitate consular services.
• Essential Commodities: India will support Bangladesh with the supply of essential commodities based on availability.
• Youth Development: They emphasized accelerating partnerships in education, skilling, technology, sports, and creative industries to meet youth aspirations.
• Indo-Pacific Cooperation: They committed to a free, open, inclusive, and secure Indo-Pacific region, co-leading the ‘Disaster Risk Reduction and Management’ pillar of the Indo-Pacific Oceans Initiative (IPOI).
• Regional and Global Cooperation: The leaders envisioned India-Bangladesh relations as a major anchor for regional integration under BIMSTEC, SAARC, and IORA, and will work together on global platforms to promote common interests, especially for the Global South.

News Summary:

• India and Bangladesh pledged to start negotiations on a comprehensive economic partnership agreement (CEPA).
• The decision to start negotiations on the CEPA was taken in view of the fact that Bangladesh is India’s biggest trade partner in South Asia and India is the second biggest trade partner of Bangladesh in Asia.
• India is Bangladesh’s largest export destination in Asia, with approximately $2 billion of Bangladeshi exports to India in FY 2022-23.
• This is the first incoming bilateral State visit by a foreign leader after the formation of the new government following the Lok Sabha elections.