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NEW DELHI (AP) — India and Bangladesh on Saturday moved to strengthen their defense relationship and signed agreements to expand cooperation in the maritime security, ocean economy, space and communications sectors, as New Delhi tries to position itself as a regional power and counterweight. To China.
The agreements were signed during the visit of Bangladeshi Prime Minister Sheikh Hasina to India, the first foreign leader to visit New Delhi since Narendra Modi became the country's prime minister for a third term two weeks ago.
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Modi welcomed Bangladesh's decision to join his Indo-Pacific Initiative to expand and facilitate regional cooperation among India's maritime neighbours. He said that the deals with Dhaka were part of his country's endeavor to follow a neighborhood-first approach.
Bangladesh also has good relations with China, its main trading partner primarily in raw materials. But maintaining a close relationship with Beijing is a challenge for Bangladesh, which also balances diplomatic and trade ties with India and the United States, China's main rivals.
Bangladesh's garment industry, which imports more than 80% of foreign currency from exports, relies heavily on China for raw materials.
Hasina told reporters in New Delhi that the two countries decided to enhance river water sharing and cooperation in the electricity and energy sectors.
She also met Indian industry leaders and invited them to invest in Bangladesh, which plans to develop larger ports, waterways, railways and roads. India has loaned Bangladesh $8 billion in the past eight years to help expand that infrastructure.
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Since Sheikh Hasina's Awami League party came to power in 2009, she has worked to address New Delhi's concerns about Indian militant groups taking sanctuary in Bangladesh.
However, an agreement on sharing the waters of the Teesta River remains elusive. The issue of illegal immigration from Bangladesh to India has affected bilateral relations for years.
India is Bangladesh's largest export destination in Asia. The trade volume between the two countries reached $15.9 billion in the fiscal year 2022-23.
New Delhi mainly exports cotton, automobiles, sugar, iron, steel, aluminum and electrical and electronic equipment to Bangladesh. It imports grains, pulp, paperboard, cement and raw hides from Bangladesh.
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