Illegal immigrants are financial refugees, says Bangladesh PM Sheikh Hasina’s business advisor | Exclusive

Salman Fazlur Rahman, advisor to Bangladesh Prime Minister Sheikh Hasina, in an unique interview with India Today, spoke in regards to the India-Bangladesh financial partnership, China, refugees, and the state of the nation’s economic system. Illegal immigrants are financial refugees, and can return as soon as the economic system improves, he stated.

#IndiaTodayExclusive | Salman Fazlur Rahman, Advisor to PM Sheikh Hasina speaks on Industry and funding. Says, “Illegal immigrants are economic refugees. Will return when Bangladesh economy improves” #ReporterDiray | (@geeta_mohan) pic.twitter.com/o9gJgJqy1l

— IndiaToday (@IndiaToday) September 7, 2022
Comprehensive Economic Partnership Agreement

India and Bangladesh will quickly start negotiations on CEPA, which is a bilateral commerce settlement. In 2021-22, Bangladesh emerged as the biggest commerce associate for India in South Asia and CEPA will present a lift to the already flourishing commerce.

“There is no timeframe to conclude CEPA, but we hope it happens as soon as possible. In principle, we agreed to do a CEPA,” Salman Rahman advised India Today.

“We have to do scoping and a lot of work before proper negotiations begin. Well, the timeframe that we would like is as soon as possible, but there is a lot of work to do,” he added.

The personal business and funding advisor to the Bangladesh PM additionally spoke in regards to the particular relationship between India and Bangladesh.

“This is the beginning. I am very confident, taking into consideration the very close and brotherly relations we have. And also the special relationship that Prime Minister Narendra Modi and Prime Minister Sheikh Hasina have. They’ve already met a number of times. PM Modi came to Bangladesh even during Covid times to celebrate our 50th anniversary and 100th birth anniversary of Sheikh Mujibur Rahman. We followed up with this visit of Prime Minister Sheikh Hasina to India,” Salman Rahman stated.

Read | Sheikh Hasina meets PM Modi, recollects India’s contribution in Bangladesh liberation struggle

Investments in Bangladesh

“There is a huge scope [for investments]. Indian investors, when they invest in Bangladesh, should not look at Bangladesh’s market alone. They should combine it with the North East. The reason for that is because we are now working closely on communication and connectivity—road, rail, and waterways. Bangladesh would become a huge market for Indian companies,” Salman Rahman advised India Today.

Read | Sheikh Hasina’s go to: Challenges and alternatives for Bangladesh, India

On China and debt lure

Speaking on Chinese investments in Bangladesh and a attainable debt lure, Salman Rahman stated one of many success tales of Bangladesh is that the nation’s exterior debt to GDP ratio is likely one of the lowest on the earth.

“Similarly, the commercial debt of Bangladesh government is minimal. All our debt is bilateral debt at concessional rates. In the case of Sri Lanka, the biggest problem was that the government had taken on a huge amount of commercial debt. We haven’t done that. In fact, we don’t even have a sovereign bond,” he stated.

Speaking about India’s considerations concerning Chinese investments in Bangladesh, Rahman stated Indian corporations shouldn’t be frightened.

“Our relationship with China is that they have given us concessional loans for some projects and we have used them for the projects. For example, the Padma Bridge, which is a marvel of engineering, many believed was a Chinese government project. That is not true. It is financed by Bangladesh completely, but through an international tender the project was constructed by a Chinese company. It was a commercial thing. That does not mean we are dependent on China for such development projects. There are some infrastructure projects that China has financed too,” he added.

On unlawful immigrants

Salman Rahman stated that unlawful immigrants are financial refugees, and as soon as their [illegal immigrants’] financial state of affairs improves, they won’t depart the nation. Illegal immigrants will return to Bangladesh if the financial state of affairs improves, he stated.

“We are seeing that Bangladeshis are now looking for higher-paying jobs in the Middle East (the Gulf) because, for lower-paid jobs, they are getting better salaries in Bangladesh itself. They are getting skilled and then going abroad. So, we are focusing on skill training, upskilling, and reskilling,” he added.

Read | Rohingyas large burden, India can play large position of their return to Myanmar: Sheikh Hasina

Teesta river dispute

Salman Rahman stated Bangladesh hopes that the dispute can be resolved throughout Prime Minister Narendra Modi’s tenure. We have had many rounds of negotiations already and I feel that, from the Indian aspect, that realisation is there, he stated.

“Negotiations on both sides will have to be concluded. Prime Minister Sheikh Hasina also has very good relations with West Bengal Chief Minister Mamata Banerjee,” he added.

Read | With PM Modi at helm, India & Bangladesh will resolve all points: Sheikh Hasina

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