Bangladesh and India Should Strengthen Cooperation in All Economic and Social Areas: HPM Sheikh Hasina

Bangladesh and India should strengthen cooperation in all areas of economy and social development for brighter future of their people as a large segment of population of the two counties still live under poverty, she said.
"Everybody should work together for economic prosperity of the people of the two countries and for mutual development of our people everybody should come forward with liberal mentality sinking all narrowness," she said.
The prime minister said this while addressing a function on the occasion of signing a memorandum of understanding (MoU) between BSEC and Security and Exchange Board of India (SEBI) at her Tejgaon office here today.
"Our common goal is to stamp out poverty from the region and provide people with a prosperous life. Joint efforts of the both countries can yield expected result in this regard," Sheikh Hasina said.
Finance Minister Abul Maal Abdul Muhith, chairman of SEBI Upendra Kumar Sinha, chairman of BSEC Dr M Khairul Hossain also spoke on the occasion.
Commerce Minister Tofail Ahmed, PM's advisors HT Imam and Dr Moshiur Rahman, state minister for Finance and Planning M A Mannan, Indian High Commissioner Pankaj Saran, business leaders and senior officials of the capital markets of Bangladesh and India, among others, were present.
The prime minister stressed the need for a strong, effective and accountable capital market to mobilize capital for industrialization and infrastructure development.
She said Bangladesh needs huge investment to implement the goals of sustainable development. She hoped that Bangladesh Security and Exchange Commission (BSEC) would always give due attention to the matter and take farsighted steps in this regard.
Sheikh Hasina expressed her firm optimism that all concerned to the capital market would carefully discharge their duties in the interest of the investors and country. The government would extend all support to BSEC in this regard, she said.
The MoU between BSEC and SEBI has been signed to exchange views and experiences aimed at strengthening cooperation between the regulatory bodies of the two countries.
The prime minister said the MoU would be milestone in the areas of development of the capital markets of the two countries and economic development hoping that the instrument would create immense opportunity towards flourishing economies of the two countries ensuring economic welfare of their people.
Sheikh Hasina said as a true friend and next door neighbour, the socio-economic and cultural bonds of Bangladesh with India is gradually improving. The two countries have taken steps to resolve their existing problems peacefully through discussion, she said.
Pointing out the exchange of enclaves between the two countries the prime minister said over the last few years the two countries have progressed to a large extent in the areas of bilateral relations.
The two countries also have settled dispute on maritime boundaries, she said hoping that Bangladesh and India would be able to come to a decision on sharing water flow of common rivers very shortly.
Besides, the two countries are making their constant efforts to expand cooperation in the areas of power and communication on river, road and rail routes and infrastructure development, she said.
The prime minister said capital market is one of the major sources for long term finance for infrastructure development, industrialization and expediting economic growth.
Listing the steps taken for reformation of the capital market she said the government is making constant efforts for a transparent, accountable, efficient, stable and strong capital market, she said adding that these reform steps helped graduation of the BSEC from Category-B to Category-A.
The prime minister also highlighted the future programmes of the BSEC for its further development saying new products for the capital markets would be introduced in addition to establishing digitized clearing and settlement company.
Besides, necessary steps would be taken for capacity building of the capital market personnel apart from introducing financial literacy programme for investors particularly youths to make them aware about capital market, she said.
Later, chairmen of BSEC and SEBI signed the MoU in presence of the Prime Minister.