India, Bangladesh Agree To Start Talks On Comprehensive Trade Pact

India and Bangladesh on Saturday agreed to start negotiations on a comprehensive economic partnership agreement and prepared a futuristic vision for boosting overall ties, Prime Minister Narendra Modi said on Saturday after holding talks with his Bangladeshi counterpart Sheikh Hasina.

In his remarks to the media, Modi said Bangladesh is India's largest development partner and New Delhi attaches the highest priority to its relations with that country.

Photo Credit: PTI

Today, a futuristic vision for India-Bangladesh cooperation in new areas was prepared, he said in the presence of Hasina. The two sides inked a raft of agreements to further broad-base relations, including in areas of digital domain, maritime sphere and railway connectivity. After the Modi-Hasina talks, India and Bangladesh inked a document finalising a shared vision for a "green partnership".

The agreement on maritime cooperation and the blue economy is also considered significant. In his media statement, Modi said both the sides agreed to start talks on the Comprehensive Economic Partnership Agreement (CEPA) to take forward economic ties The prime minister also said extensive discussions were held on boosting defence cooperation, including in areas of defence production and modernisation of the armed forces.

"We welcome Bangladesh's decision to join the Indo-Pacific Oceans Initiative," Modi said.

Explaining the importance that India attaches to its relations with Bangladesh, he said the country lies at the confluence of New Delhi's Neighbourhood First policy, Act East policy, Vision SAGAR and Indo-Pacific vision.

Prime Minister Modi said he reiterates India's commitment to realising Bangabandhu's vision of a stable, prosperous and progressive Bangladesh.

In her comments, Hasina said, "India is our major neighbour and a trusted friend" and Dhaka greatly values its relations with New Delhi which were born in "our war of liberation in 1971".