Date : 21 Feb 2022
Bangladesh - An Important Hub of Trade and Transportation in the SubcontinentTags :
Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
Why in News?
- Bangladesh has historically been an important trade and transportation hub for the subcontinent. Speaking at the 10th India-Bangladesh Friendship Dialogue Foreign Secretary Harsh Vardhan Shringla said, there is a need to work closely to strengthen border infrastructure to ensure smooth transit of goods and people while ensuring that illegal activities are kept under check.
- Two-way trade in the recent past has witnessed a quantum jump with exports from Bangladesh, for the first time, expected to cross two billion dollars this year.
- He said, India and Bangladesh have signed an agreement on the Use Chattogram and Mongla Ports for Transshipment of Goods to and from North East of India. The Foreign Secretary said, fully operationalizing a Comprehensive Economic Cooperation Agreement will bring economic benefits to a range of stakeholders from both countries.
- India and Bangladesh have made remarkable progress in enhancing connectivity through the use of their inland waterways.
- Referring to the historic Ganga water sharing accord, Foreign Secretary Shringla said that India and Bangladesh are working to finalize agreements on 54 shared rivers.
- Both the countries are exchanging best practices in the areas of river embankments and addressing the issue of salinity among others. He said that in view of the impact of climate change, more comprehensive cooperation is required in water conservation, fisheries, flood management, and pollution in rivers. He called for greater synergies in climate action, preserving shared natural heritage such as Sunderbans, etc.
- Foreign Secretary Shringla reiterated India’s commitment to building the momentum of regional cooperation under the BIMSTEC framework.