India and Bangladesh Sign Key Defense and Economic Agreements

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India and Bangladesh Sign Key Defense and Economic Agreements

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NEW DELHI (AP): India and Bangladesh signed agreements on the 22nd June 2024 to strengthen cooperation in defense, maritime security, the ocean economy, space, and telecommunications. This move comes during Bangladesh Prime Minister Sheikh Hasina’s visit to India, the first by a foreign leader since Narendra Modi’s third term as Prime Minister began.

Modi highlighted Bangladesh’s decision to join India’s Indo-Pacific Oceans Initiative, promoting regional maritime cooperation. These agreements align with India’s neighborhood-first policy.

While Bangladesh maintains significant trade relations with China, it balances ties with India and the U.S. Hasina discussed enhancing cooperation in river water sharing, power, and energy sectors. She also encouraged Indian investments in Bangladesh’s infrastructure, supported by $8 billion in Indian loans over the past eight years.

Trade between the two nations reached $15.9 billion in 2022-23, with India exporting goods like cotton and motor vehicles, and importing items such as cereals and cement from Bangladesh. AFP