The much-anticipated visit of Bangladesh Prime Minister Sheikh Hasina to India, which begins today is undoubtedly going to open up a new era between the two neighbouring nations.
New Delhi: The much-anticipated visit of Bangladesh Prime Minister Sheikh Hasina to India, which begins today, is undoubtedly going to open up a new era between the two neighbouring nations despite the fast-changing geopolitical scenarios caused by the Russia-Ukraine war.
Given the shaky economic headwinds developing in other South Asian nations, primarily in Pakistan and Sri Lanka, there will be a PR push for the visit. One is in a never-ending cycle of foreign debt, while the other has declared bankruptcy.
In contrast, India has surpassed Britain in terms of economic growth to become the fifth-largest economy. And with Sheikh Hasina in charge for more than 13 years, her country has matured. Bangladesh rose to become one of the top performers during COVID.
However, because of the conflict and high inflation that brought Europe to its knees, developing economies like Indonesia and Bangladesh have also been forced to raise fuel prices and apply for IMF funding, largely due to the Russia-Ukraine war. But under a patriotic and careful leader like Sheikh Hasina, the country is surely better prepared to go through the crisis than many other developing nations.
So, the two economies are thus the strongest in South Asia, but much work still needs to be done.
Not to mention a recent World Bank report claiming that, despite massive connectivity plans and infrastructure development, South Asia remains the world’s least integrated region, with only 5% of trade taking place in the region.
The opposition parties in Bangladesh condemn Hasina’s inability to solve the long-pending Teesta water-sharing treaty. Hasina must be under pressure to some extent and would like to solve this issue.