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India-Bangladesh expediting CEPA for boosting bilateral trade

Fiinews by Fiinews
December 18, 2020
in Exports, Investment, Manufacturing, Projects
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Prime Ministers of India and Bangladesh held a virtual summit on 17 Dec 2020.

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Haldibari-Chilahati train commences service

The Prime Ministers of India and Bangladesh have directed their officials to expeditiously conclude the ongoing joint study on the prospects of entering into a bilateral Comprehensive Economic Partnership Agreement (CEPA).

The directive was given after Prime Minister Narendra Modi met his counterpart Sheikh Hasina, Prime Minister of Bangladesh, at a virtual format summit on 17 December 2020.

Welcoming the first meeting of the India-Bangladesh Textile Industry Forum, earlier this year, the leaders emphasized the importance of increased linkages and collaboration in the textile sector and directed the officials to conclude the ongoing negotiations on the MOU between Ministry of Textiles and Ministry of Textiles and Jute of Bangladesh at the earliest.

They welcomed the consultations on anti-dumping/anti-circumvention duties imposed on export of jute products from Bangladesh to India held recently and expressed hope that the issues related to ADD will be resolved expeditiously.

The two Prime Ministers noted with satisfaction the continued progress made towards the restoration of pre-1965 railway linkages between both nations. They jointly inaugurated the newly restored railway link between Haldibari (India) and Chilahati (Bangladesh) and noted that this rail link will further strengthen trade and people to people ties between the two sides. It was decided to operationalize the train as and when the COVID situation improves.

The two leaders took stock of the ongoing bilateral connectivity measures and welcomed the recent initiatives including the signing of the second addendum to the Protocol on Inland Water Transit and Trade (PIWTT), trial run of trans-shipment of Indian goods from Kolkata to Agartala via Chattogram and operationalization of Sonamura-Daudkandi Protocol route under the PIWTT. Both the leaders agreed to expeditiously operationalise trans-shipment of Indian goods through Chattogram and Mongla Ports.

To facilitate better connectivity and simplify the movement of passengers and goods between both the countries, both leaders agreed to an early operationalization of the BBIN Motor Vehicles Agreement through the expeditious signing of the Enabling MoU for Bangladesh, India and Nepal to commence the movement of goods and passengers, with provision for Bhutan to join at a later date.

The Bangladesh Prime Minister expressed keen interest in the ongoing India Myanmar Thailand trilateral highway project and sought the support of India for enabling Bangladesh to connect with this project with a view to enhanceing connectivity between the regions of South and South East Asia. In the same spirit, the Indian side requested Bangladesh to allow connectivity from West Bengal (Hilli) to Meghalaya (Mahendraganj) via Bangladesh.

India reiterated its request to the Government of Bangladesh of having at least one Land Port with a minimal negative list between each neighbouring states of India and Bangladesh, beginning with Agartala-Akhaura. Bangladesh side proposed that Bangladeshi trucks avail of the Feni Bridge, once completed, for transportation of goods from Chattogram port to the North East of India.

Acknowledging the vibrant development partnership between the two countries, both sides stressed on active operationalization of the recently-constituted High-Level Monitoring Committee headed by Secretary, Economic Relations Division from Bangladesh and the High Commissioner of India in Dhaka to regularly review the progress of the LOC Projects for their early completion.

Both sides noted with satisfaction the commencement of a temporary Air Travel Bubble between the two sides to facilitate the urgent requirements of travellers on both sides during the COVID-19 pandemic. Bangladesh side also requested the Indian side to resume regular travel through land ports at the earliest

Prime Minister Sheikh Hasina highlighted the need for early signing of an interim agreement for sharing of the Teesta waters, as agreed upon by both the governments in 2011. Prime Minister Narendra Modi reiterated India’s sincere commitment and continued efforts of the Government of India in that regard.

The two leaders underscored the need for early conclusion of Framework of Interim Agreement on sharing of waters of six joint rivers, namely, Manu, Muhuri, Khowai, Gumti, Dharla and Dudhkumar.

Bangladesh side requested the Indian side to inform its concerned border authorities to allow excavation work of the remaining portion of the Rahimpur Khal for utilization of Kushiyara River waters for irrigation purposes. The Indian side was also requested to provide early concurrence on the proposed MoU to be signed between the two countries for monitoring the withdrawal of water from the Kushiyara River by both the sides, pending the signing of the Treaty/Agreement regarding sharing of water of the Kushiyara River. The two leaders recalled the positive contribution of the Joint Rivers Commission and looked forward to the next round of Secretarial level JRC meeting at the earliest.

Both sides expressed satisfaction at the robust cooperation in the power and energy sector, including between the private sector. It was agreed to expedite implementation of projects including India-Bangladesh Friendship Pipeline, Maitree Super Thermal Power Project as well as other projects.

Both sides welcomed the signing of the Framework of Understanding on Cooperation in the Hydrocarbon Sector which would further augment energy linkages by streamlining investments, technology transfer, joint studies, training and promoting hydrocarbon connectivity.

It was also agreed to enhance cooperation in energy efficiency and clean energy, including in biofuels. In line with the commitment of both countries to move towards green, clean, renewable sources of energy, it was agreed to strengthen subregional cooperation including with Nepal and Bhutan. Both sides also agreed to strengthen cooperation in the area of power and energy connectivity.

Prime Minister Sheikh Hasina appreciated the work of the New Development Bank and thanked India for inviting Bangladesh to join the Institution. She welcomed the work of the Bank in multiple sectors including infrastructure development and expressed Bangladesh’s willingness to be a part of the initiative.

On this occasion, the following bilateral documents were signed and exchanged by the officials of the Governments of India and Bangladesh:

The Framework of Understanding (FOU) on Cooperation in Hydrocarbon Sector;

Protocol on Trans-boundary Elephant Conservation;

MOU regarding Indian Grant Assistance for Implementation of High Impact Community Development Projects (HICDPs) through Local Bodies and other Public Sector Institutions;

MOU on Supply of Equipment and Improvement of Garbage and Solid Waste Disposal Ground at Lamchori Area for Barishal City Corporation;

Terms of Reference of India-Bangladesh CEOs Forum;

MoU between Father of the Nation Bangabandhu Sheikh Mujibur Rahman Memorial Museum, Dhaka, Bangladesh and the National Museum, New Delhi, India; and

MoU on Cooperation in the field of Agriculture.

The following bilateral development partnership projects were also inaugurated:

• Beautification and city development project in Rajshahi City;

• Construction of Khalishpur Collegiate Girl’s School in Khulna;

Also, both the Prime Ministers jointly inaugurated a railway link between Haldibari in India and Chilahati in Bangladesh during the PM level virtual bilateral summit.

Haldibari-Chilahati route will be beneficial for transit into Bangladesh from Assam and West Bengal. This newly opened rail link will enhance rail network access to the main ports, dry ports, and land borders to support the growth in regional trade and to encourage economic and social development of the region. #projects #investments #infrastructure #trade #exports #manufacturing /fiinews.com

Tags: The Prime Minister's Office
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