Home ›› 03 Sep 2022 ›› Front
Dhaka and New Delhi are likely to sign a number of instruments on power, food, trade, and water sharing during the upcoming visit of Prime Minister Sheikh Hasina to India, official sources have said.
Ripple effects of Ukraine war on the global and regional economies, particularly getting out of energy crisis are two major issues are likely to be discussed in the bilateral meeting of two prime ministers.
According to sources from the foreign ministry, during the official visit beginning on September 5, Dhaka and New Delhi may sign a number of memoranda of understanding (MoUs) and agreements.
Officials at the ministries of foreign affairs and commerce say that it would take a few more days to confirm how many deals would be signed.
Sheikh Hasina is going to visit India between September 5 and 7 at the invitation of Indian Prime Minister Narendra Modi.
Prime Minister Sheikh Hasina on September 5 will exchange views with the country’s diplomats. She will pay her respect at Mahatma Gandhi’s Memorial on September 6, and then hold a meeting with Narendra Modi. In the meeting, the focus will be on strengthening the bilateral ties between Dhaka and New Delhi.
On September 7, Prime Minister Sheikh Hasina will address an event organised by the Indian Chamber of Commerce. She will visit the grave of Hazrat Khwaja Moinuddin Chisti at Ajmer Sharif the same day. Diplomatic sources say connectivity, security, water-sharing of common rivers, border management, trade and investment expansion, and cooperation in electricity and fuel sectors will get priority during the visit of Hasina.
Bilateral trade a key agenda
The bilateral trade between Bangladesh and India has gone up in recent years. Bangladesh exported goods worth $1.99 billion to India in FY22, and imported products worth $13.94 billion (provisional data).
During the visit, there might be a discussion on signing a Comprehensive Economic Partnership Agreement (CEPA). This deal, if signed, would grant duty-free access to goods moving between the two countries.
Bangladesh will also discuss anti-dumping duty and non-tariff barrier issues, sources say.
Speaking to The Business Post, Commerce Ministry Senior Secretary Tapan Kanti Ghosh said, “If India approves, the announcement to launch CEPA negotiations would come. A joint study in this regard has already been completed, and its summary has been delivered.
“Bangladesh has made a proposal to India against the imposition of anti-dumping duty. I am optimistic that India will decide to withdraw anti-dumping duty in the upcoming bilateral meeting.”
Commenting on India’s food export quota, Tapan said, “We have informed India about the type of food items Bangladesh needs, along with our minimum import requirements. The food items Dhaka seeks unrestricted importation from India are rice, wheat, maize, lentil, onion, oil seed and spices.
On the Hasina’s visit, former ambassador M Humayun Kabir said, “Prime Minister Sheikh Hasina’s visit to India may have political significance, but there is not much hope about any key issues getting resolved.”
An announcement on starting discussion on CEPA for boosting bilateral trade could come. Bangladesh may take the initiative to remove non-tariff barriers in a bid to increase exports to India.
Bangladesh, India, Nepal and Bhutan (BBIN) have been discussing the matter of regional cooperation in the energy sector – especially in the hydroelectric segment – for the last few years.
Former ambassador M Humayun Kabir said, “Bangladesh and India can launch more initiatives to implement a hydroelectric project. This will give us the opportunity to import electricity from Nepal and Bhutan.”
On the issue, Kabir said, “The river water issue should get more importance. Though the agenda contains discussion on water sharing of common rivers, talk on Teesta is yet to move forward. A deal could be made only for sharing the water of Kushiyara.
“But there are many rivers in Bangladesh aside from Teesta, and if the water sharing issues of such rivers are resolved, Bangladesh will benefit.”
