Significance of Ms. Hasina’s visit to India
Context:
- Bangladesh Prime Minister Sheikh Hasina will arrive in New Delhi on a four day state visit to India.
- During her visit, Ms Hasina will call on President Droupadi Murmu and Vice President Jagdeep Dhankar. She will hold bilateral consultations with Prime Minister Narendra Modi also.
CEPA:
- The two countries off late have deepened their economic ties, it is very evident in the recent seventh round of the India-Bangladesh Joint Consultative Commission in June.
- Where India and Bangladesh have agreed upon their partnership to diverse sectors including Artificial Intelligence, Fintech, cybersecurity, startups, and connectivity.
- Both India and Bangladesh are gearing up to sign a Comprehensive Economic Partnership Agreement (CEPA).
- This comes amidst the time when Bangladesh is set to be designated as to a developing country in 2026.
Significance of Trade:
- The significance of the bilateral trade with Bangladesh can be attributed to the fact that Bangladesh is India’s sixth largest trade partner.
- The bilateral trade amounts to over $10.8 billion in the fiscal year 2021-22.
- Bangladesh imports critical industrial raw material from India on which its exports are reliant.
- India’s connectivity projects with ASEAN and Bangladesh will open up the region to economic growth.
- Bangladesh has expressed its interest in joining the India-Myanmar-Thailand highway project.
Challenges:
- Since independence, sharing of the waters of the Teesta has remained a thorny issue between Indian & Bangladesh.
- The Teesta River is very important for the state of West Bengal to sustain its impoverished farming districts.
- This is equally important for Bangladesh as the Teesta’s flood plains cover about 14% of the total cropped area of the country.
- So, in this regard both the countries are expected to sign at least one major river agreement during the upcoming trip
SOURCE: THE HINDU
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