Economy
Dhaka, New Delhi Forge Vision for Digital and Green Partnership: PM Sheikh Hasina
Prime Minister Sheikh Hasina announced today (June 22) that Bangladesh and India have agreed on a shared vision for a digital and green partnership aimed at ensuring a sustainable future for both nations.
In a joint statement before the media following her meeting with Indian Prime Minister Narendra Modi at Hyderabad House in New Delhi, Hasina said, “Both countries endorsed the ‘Vision Statement’ to guide us toward a peaceful and prosperous future. We agreed to have a shared vision for ‘Digital Partnership’ and ‘Green Partnership for a Sustainable Future.'”
The bilateral discussions covered a broad range of topics, including water sharing from common rivers, security, and trade. Hasina emphasized the importance of India as Bangladesh’s major neighbor, trusted friend, and regional partner, highlighting the deep historical ties since Bangladesh’s War of Liberation in 1971.
“Our relations with India are ever-growing at a fast pace,” Hasina noted. “Today, our two sides had very productive meetings where we discussed politics and security, trade and connectivity, the sharing of water from common rivers, power and energy, and regional and multilateral cooperation, among other issues of mutual interest.”
The Prime Minister added, “We agreed to collaborate with each other for the betterment of our people and countries.” She outlined a future course of action aimed at ensuring a smart Bangladesh by 2041 and a Viksit Bharat (Developed India) by 2047.
Hasina mentioned that several Memoranda of Understanding (MoUs) were concluded and renewed, with announcements made for future collaboration. She noted that recent years have seen sustained high-level engagements between the two countries, including visits by the Indian president and prime minister to Bangladesh in 2021 to celebrate significant milestones in Bangladesh’s history.
Reflecting on her own diplomatic engagements, Hasina recalled her last bilateral visit to India in September 2022 and her attendance at the G20 Summit in New Delhi in September 2023 as the leader of ‘Guest Country’ Bangladesh. “I am now visiting New Delhi for an unprecedented second time in the same month, June 2024,” she remarked.
Earlier this month, on June 9, Hasina attended the swearing-in ceremony of Prime Minister Narendra Modi and his new cabinet alongside other world leaders, further underscoring the close engagement between the two nations.
During her current visit, Hasina will also meet with the Vice President and the President of India. She expressed optimism that these meetings will provide deeper insights into enhancing bilateral cooperation.
“This is my first bilateral visit to any country after Bangladesh’s 12th Parliamentary Elections and the formation of the new government in January 2024,” Hasina noted, thanking the Indian government for their warm hospitality.
In her concluding remarks, Hasina paid homage to the Indian heroes who sacrificed their lives during Bangladesh’s War of Liberation in 1971, expressing gratitude for India’s contribution to Bangladesh’s independence. She also extended an invitation to Prime Minister Modi to visit Bangladesh at his earliest convenience.
On Sunday, June 30, the parliament approved the Tk 797,000 crore national budget for FY 2024-25, aiming for a 6.75 percent economic growth and keeping annual inflation around 6 percent.
Finance Minister Abul Hassan Mahmood Ali introduced the Appropriations Bill 2024, requesting a budget allocation of Tk 12,41,752 crore, which passed by voice vote.
Earlier, on Saturday, the parliament passed the Finance Bill 2024 with minor amendments.
The Finance Ministry proposed parliamentary approval for the appropriation of funds for necessary development and non-development expenditures. The concerned ministers justified their ministry’s expenses through 59 grant demands.
Parliament rejected 251 cut-motions from opposition members on these grant demands via voice votes. Seven MPs, including Jatiya Party’s Mujibul Huq and Hafiz Uddin Ahmed, and Independent MP Pankaj Nath, were allowed to discuss the Law Ministry, Secondary and Higher Studies Division, and Social Welfare Ministry.
Speaker Shirin Sharmin Chaudhury expedited the passing of grant demands for different ministries without a lunch break. Opposition and independent MPs present in the House did not object to the Appropriation Bill’s passage.
Vietnam’s economy grew by more than six percent in the first half of 2024, government figures showed Saturday, as analysts said more reforms are needed to further boost the economy.
The global manufacturing hub saw an expansion of 6.4 percent in January-June, compared to 3.7 percent over the same period of 2023, the General Statistics Office (GSO) said in a statement.
The upswing was the result of “several measures” taken to improve supply chains, the foreign exchange market and public investment, the GSO said.
Industrial production was up 7.5 percent, while foreign investment increased by 8.2 percent compared to the same period last year, the new figures showed.
To maintain and promote growth, the government needs to focus on the key sectors of manufacturing and processing, logistics and hospitality, VPBank Securities analyst Duong Thien Chi said.
Policymakers should also take into account “unmeasurable variables” such as the US Federal Reserve’s moves on interest rate reduction, Duong told AFP.
The United States was Vietnam’s largest export market in the first six months of 2024.
The Southeast Asian nation earned $190 billion from exports over that period, up by 14.5 percent year on year.
Despite such improvement, an International Monetary Fund analyst said Vietnam “needs a new wave of reforms” following a visit to the country late June.
“Increasing productivity, further investing in human and physical capital, and incentivising private investment in renewable energy is key,” said the IMF’s Paulo Medas.
Vietnam is targeting growth of between six and 6.5 percent this year, up on the 5.05 percent seen in 2023.
Crisis-hit Sri Lanka’s annual inflation almost doubled to 1.7 percent in June, up from 0.9 percent the previous month, as food prices began rising again, official data showed Saturday.
The Census and Statistics department data came days after Sri Lanka secured a deal with its bilateral creditors to restructure $10 billion in debt, a key condition to maintain an IMF bailout programme.
Food inflation returned, with prices rising 1.04 percent in the year to June, having been flat a month earlier, the department said.
At the height of Sri Lanka’s economic crisis when it defaulted on its foreign debt in 2022, inflation had risen to nearly 70 percent.
The Central Bank of Sri Lanka expressed hope on Saturday that it would be able to maintain overall inflation below 5.0 percent for 2024.
The country is due to hold a presidential election this year, and opposition parties have vowed to renegotiate the terms of the IMF bailout, which has led to painful austerity measures.
The IMF has said it is willing to listen to alternative proposals from rival political parties, but stressed that the benchmarks set in the bailout had to be adhered to.
