Foreign Secretary Harsh Vardhan Shringla told the media that the work on the India-Bangladesh Friendship Pipeline, a project that will allow the two nations to combine their energy requirements, is likely to be inaugurated in 2022.

The India-Bangladesh Friendship Pipeline Project (IBFPP) worth Rs 346 crore, inked in 2018, will link Siliguri in West Bengal in India and Parbatipur in Dinajpur district of Bangladesh. The 130 km oil pipeline capacity will be one million metric tonnes per annum.

The IBFPP will ship fuel from Assam-based Numaligarh Refinery Limited (NRL) through the Siliguri Marketing Terminal to Bangladesh.

Shringla said that there has been a constant growth in bilateral trade between the two nations. Last year, there was a year on year growth of 14%, which is a very promising figure to achieve.

Bangladesh’s exports to India touched the billion-dollar mark and it continues to grow on a regular basis, he said, adding that the two sides are additionally in discussions for a Comprehensive Economic Partnership Agreement. He said that there has been a good improvement on lines of credit.

Bangladesh estimates for nearly a third of India's lines of credit; $10 billion is what India has given to Bangladesh in highly concessional credit terms. These lines of credit have added to improving their connectivity, developing infrastructure, not just in the border but in various parts of Bangladesh.

He said that connectivity constitutes an essential pillar of India-Bangladesh relations, as per a press release issued by Rashtrapati Bhavan.

President Kovind told the media that the two nations have much to achieve from their geographical proximity. He stated that there is a lot of scope in partnering in areas like space, nuclear technology, defence, pharmaceuticals and other advanced science and technology fields.

He said a formal ‘Comprehensive Economic Partnership Agreement’ would provide a vital boost to two-way trade.

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