Mon. Dec 4th, 2023
Bangladesh and France Strengthen Cooperation, Sign Agreements on Infrastructure and Satellite Development

Bangladesh and France have signed two bilateral agreements aimed at enhancing cooperation in infrastructure and building the first-ever earth observation satellite. The agreements were made following talks between French President Emmanuel Macron and Prime Minister Sheikh Hasina.

During Macron’s visit to Bangladesh, the first by a French president since 1990, the leaders discussed various topics, including the geopolitical instability and economic uncertainty in the region. Hasina expressed her appreciation for France’s support of Bangladesh’s policy independence and hoped that the strengthened cooperation between the two countries would contribute to regional and global stability and peace.

As a trusted development partner of Bangladesh, France has pledged its continued cooperation in infrastructure development. A Credit Facility Agreement was signed between the Economic Relations Division (ERD) of Bangladesh and the France Development Agency (AFD) for the Improvement of Urban Governance and Infrastructure Programme. This concessional loan will support the Urban Governance and Infrastructure Improvement (UGIIP) project, benefiting 88 municipalities.

In addition, a Letter of Intent (LOI) on Cooperation was signed between Bangladesh Satellite Company Limited (BSCL) and Airbus Defence and Space SAS of France. The LOI focuses on the development of the Bangabandhu-2 Earth Observation Satellite System. This satellite will be the first of its kind for Bangladesh, reducing its reliance on purchasing satellite images from other companies.

The bilateral trade between Bangladesh and France reached a record high of 4.9 billion euros in 2022. Furthermore, 30 French companies have established offices in Bangladesh, primarily in sectors such as ready-made garments, logistics shipping, and engineering.

These agreements and initiatives highlight the commitment of both countries to strengthen their partnership and promote development in various sectors, including infrastructure and satellite technology.