India and Bangladesh have recently signed a memorandum of understanding (MoU) to enhance the inland waterway connectivity between the two countries. The agreement was signed during the virtual Summit between Indian Prime Minister, Narendra Modi, and his Bangladeshi counterpart, Sheikh Hasina.
The MoU aims to improve the utilization of inland waterways for transportation of goods between the two countries. It will also enhance the navigation capacity of the protocol route and its operational efficiency, which will result in a reduction of transportation costs and time.
This agreement comes as a significant boost to the Indo-Bangladesh ties, which have been strengthening in recent years. The two countries have improved their relations in several areas, including trade and investment, energy, and security cooperation.
India and Bangladesh share over 4,000 kilometers of land border and are connected through 54 common rivers. The inland waterway connectivity will provide an alternative mode of transportation that is cost-effective, efficient, and environment-friendly.
The agreement is expected to benefit the people and businesses of both countries. Bangladesh will be able to utilize the waterways to export goods to India and other countries through India`s ports. India, on the other hand, will be able to access the northeast states, which have limited land connectivity, using the waterways.
In addition to the inland waterway connectivity agreement, the virtual summit also witnessed the signing of several other bilateral agreements. These include agreements in the fields of energy, agriculture, and trade.
Overall, the latest agreement between India and Bangladesh is a significant step towards strengthening the bilateral relations between the two countries. It is expected to have a positive impact on the trade and transportation sectors of both countries and contribute to the growth and development of the region at large.