PM Modi, Sheikh Hasina agree to early finalization of projects under line of credit for defence
8 September, 2022 | Pranay Lad
According to a joint statement released by the Ministry of External Affairs, Prime Minister Narendra Modi and his Bangladeshi counterpart, Sheikh Hasina, expressed satisfaction at the strengthening...
According to a joint statement released by the Ministry of External Affairs, Prime Minister Narendra Modi and his Bangladeshi counterpart, Sheikh Hasina, expressed satisfaction at the strengthening of bilateral defence ties and agreed on the early completion of projects under the line of credit for defence, which would be advantageous for both countries.
In this respect, the delegations of the two nations commended the completion of the initial vehicle acquisition plans for the Bangladesh Armed Forces as they both look forward to strengthening their bilateral defence relations.
According to the official statement, the Indian side requested that the 2019 MoU, which calls for the provision of a coastal radar system for increased marine security, be implemented as soon as possible and reaffirmed the significance of enabling commerce between the two nations.
According to the press release, the Indian side demanded that at least one significant land port, commencing with ICP Agartala-Akhaura, be built on the border with the North Eastern States of India without any port limits or a negative list of rules.
Both presidents agreed on the value of utilising the potential of recently developed fields of collaboration, such as green energy.
They also instructed officials on both sides to increase collaboration in cutting-edge fields such as the peaceful use of nuclear energy, space exploration, and technology-enabled services for the financial, medical, and educational sectors.
In order to maintain momentum in the bilateral ties, PM Modi and his Bangladeshi colleague Sheikh Hasina on Tuesday conducted a lengthy conversation on a variety of bilateral topics and resolved to begin talks on a comprehensive economic partnership agreement (CEPA).
In addition, both nations signed seven Memorandums of Understanding (MoUs) in the presence of PM Modi and Sheikh Hasina, who was in town on a visit. Following discussions between delegations in the Hyderabad House, these agreements were reached.
Both presidents committed to creating robust supply chains in their respective nations as well as throughout the region, according to Indian Foreign Secretary Vinay Mohan Kwatra at a special briefing on Tuesday.
India is by far Bangladesh’s biggest Asian market for its goods.
And despite the epidemic, bilateral commerce between the two nations hit a record high of USD 18 billion in the most recent fiscal years, he continued, noting that the two presidents had also discussed regional and international concerns.
Read more: Seven MoUs signed between India, Bangladesh