India and Bangladesh Sign Three MoUs

• 12 Sep 2023

During recent bilateral talks between Indian Prime Minister and his Bangladeshi counterpart, in New Delhi, the two nations inked three memorandum of understanding (MoUs).

Key Points

• Cooperation in Digital Payments: An MoU on cooperation in Digital Payment mechanisms was signed between the National Payments Corporation of India (NPCI) and Bangladesh Bank.
• This collaboration aims to strengthen digital payment systems between the two countries.
• Renewal of Cultural Exchange Program: Another MoU pertains to the renewal of the Cultural Exchange Program (CEP) between India and Bangladesh for the years 2023-2025.
• This agreement underscores the importance of cultural ties and exchanges between the two nations.
• Agricultural Research Collaboration: The third MoU was signed between the Indian Council of Agricultural Research (ICAR) and the Bangladesh Agriculture Research Council (BARC), emphasizing joint efforts in agricultural research and development.
• Comprehensive Economic Partnership Agreement (CEPA): The leaders also expressed their eagerness to commence negotiations on the Comprehensive Economic Partnership Agreement (CEPA), which encompasses trade in goods and services, as well as investment protection and promotion.
• Comprehensive Bilateral Cooperation The discussions encompassed a wide range of bilateral cooperation areas, including political and security cooperation, border management, trade and connectivity, water resources, power and energy, development collaboration, and cultural and people-to-people linkages.