India- Bangladesh friendly relations are to take a new turn today at 5 p.m. as both countries are set to crack a new partnership deal and inaugurate their first cross-border energy pipeline in a virtual meeting.
Indian Prime Minister Mr Narendra Modi and Bangladesh Prime Minister Sheikh Hasina are all set to take their friendship to new heights. At a virtual event that will be held on 18th March 2024 at 5 p.m., both parties are set to inaugurate the first cross-border energy pipeline called the India-Bangladesh friendship pipeline (IBFPL) to supply high-speed diesel from India to Bangladesh. The project was first announced in the year 2010 and now supply is supposed to commence in June this year on an experimental basis to the seven districts of Bangladesh.
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IBFPL: SIGNIFIACNT FEATURES
Here’s all that you need to know about the new India- Bangladesh Friendship pipeline. The project was announced in the year 2010 and the construction of the same began in the year 2018 with the help of India’s funding. The government is believed to have spent Rs. 377 Crore and the Bangladesh Government is believed to have spent Rs. 285 Crores on the pipeline, the deal is effective for the next 15 years and if both countries wish to extend it further, they can.
Since the 131.5 km long pipe will supply 1 million centric tons of high-speed diesel (HSD) will be supplied from India to Bangladesh’s seven districts, the pipeline might run from Siliguri in West Bengal, and from India to Partbatipur in Northern Bangladesh, passing through five districts in West Bengal and five districts in Bangladesh.
According to the official statement issued by the Prime Minister, Mr Narendra Modi, the agenda of this project is to export diesel in sustainable, reliable, cost-effective and environment-friendly ways which will also help in increasing energy security between the two countries since earlier Bangladesh used to import diesel from India through railway carriages.
INDIA-BANGLADESH RELATIONS IN THE PAST
Let’s take a look at the relationship between India-Bangladesh in the past few years and how far we have come in terms of friendship. Both the countries, India and Bangladesh share a 4,096 km long international border also known as the Radcliffe line, IB (established on 17 August 1947) which is considered to be the fifth-longest land border in the world. There have been a lot of agreements and disagreements between the two countries in the past few years but many factors have played a pivotal role in improving relations and one of the major factors is Bilateral trade.
As per the reports, in South Asia, India’s biggest trade partner is Bangladesh. Many steps have been taken by the Indian government to strengthen the relationship with Bangladesh, under the South Asian Free Trade Agreement (SAFTA) in the year 2011 it was announced that all exports from Bangladesh to India will be Duty-free and Quota-free. Also, decisions on some issues are still awaited, for instance, issues like the Bilateral Comprehensive Economic Partnership Agreement (CEPA). Another issue that awaits action is the India-Bangladesh textile industry forum that was held in 2020.
