PM Hasina and Modi agree on CEPA negotiations, regional integration
Bangladesh and India have decided to enhance their trade and investment relations by starting negotiations for a Comprehensive Economic Partnership Agreement (CEPA). This initiative includes operationalizing two Special Economic Zones, improving connectivity and trade infrastructure and strengthening energy cooperation.
These decisions were made during a summit between Bangladesh Prime Minister Sheikh Hasina and Indian Prime Minister Narendra Modi in Delhi on Saturday. This visit marked the first high-level meeting since Modi began his third term as India's prime minister earlier this month.
Regarding water resource management, the two nations committed to exchanging data and developing an interim water-sharing framework. They also welcomed the establishment of a Joint Technical Committee to renew the 1996 Ganges Water Sharing Treaty and agreed to manage the Teesta River with support from India.
The leaders highlighted the importance of enhancing defense cooperation, exploring defense industrial collaboration for the modernization of the Bangladesh Armed Forces, and continuing diverse military engagements.
Both countries reiterated their dedication to a free, open, and rules-based Indo-Pacific region. They will jointly lead the Disaster Risk Reduction and Management pillar of the Indo-Pacific Oceans Initiative (IPOI).
Additionally, they aim to make their partnership a cornerstone for regional integration through organizations like BIMSTEC, SAARC, and IORA, working together on global platforms to advance common interests, especially those of the Global South.
After the meeting, the prime ministers of Bangladesh and India witnessed the signing of 10 Memorandums of Understanding (MoUs) in areas such as blue economy and maritime cooperation, railways, capacity building, health, academic cooperation, fisheries, and disaster management.
During a joint address, Modi stated, 'Though in the last year, we have met 10 times, today's meeting is special as PM Sheikh Hasina is our first State Guest in our third tenure.'
PM Hasina's visit to India marks her first bilateral visit since the 12th parliamentary elections and the formation of her new government in January.
At the joint address, she remarked, 'India is our major neighbor, trusted friend, and regional partner,' emphasizing the deep value Bangladesh places on its relations with India, which were forged during the War of Liberation in 1971.
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