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Deepening Dhaka-Moscow bilateral ties
Published : Friday, 18 January 2013
Prime Minister Sheikh Hasina's visit to Russia has given a boost to Dhaka-Moscow bilateral ties. Three agreements and six memoranda of understanding (MoUs) in different areas have been signed on the occasion. Among such accords, the deal about purchase of defence hardware -- arms and equipment -- for the Bangladesh Armed Forces and one more for building a 2,000 MW nuclear power plant in Rooppur merit particular attention.
Bangladesh needs to have a modern defence force and here hardware is part of modernisation but is not necessarily the sole factor. Most external defence hardware purchases have for long been made from sources other than Russia. The accord with Russia will mean diversification of sources. However, it is not clearly known what kind of defence hardware will now be procured from Russia. As such, it will be premature to comment on this issue at this stage. It must, however, be noted that the rationale behind defence purchase must be set in the light of practical needs of the country in today's world where technology is fast changing in the domain of defence hardware and also where one major emphasis is placed on cost effectiveness and efficiency.
Meanwhile, the accord on setting up the nuclear power plant - a much talked-about subject - in Bangladesh with Russia's support and cooperation will, for obvious reasons, be considered the most important outcome of the PM's visit to Russia. Under it, Russia will give $500 million in loans as part of its construction cost. The deal with Moscow to build a nuclear power plant at Rooppur is otherwise welcome. The demand for power is growing fast in the country with the passage of every day and the failure to meet this demand at affordable rates has virtually cost the Bangladesh economy heavily. Many developed countries have already been meeting a substantial part of their electricity demand from power generated by nuclear plants. Even a number of developing countries have also opted for such plants, for a variety of reasons.
Now that Russia has agreed to extend its support and cooperation for setting up a nuclear plant in Bangladesh, all concerned would expect that follow-up actions will be taken up in earnest to execute the project in time. It will, of course, be critically important for both Russia and Bangladesh to ensure adequate safeguards under proper supervision in accordance with internationally accepted standards and practices of the International Atomic Energy Agency (IAEA). There must not be any compromise on this. This is because a major accident in a nuclear power plant could cause unprecedented havoc. This type of catastrophic accident has severe consequences for all forms of life. Furthermore, the emphasis needs to be put on training up Bangladeshi personnel properly for operation and management of the plant. Transfer of technology has to be on top of the priority list in this regard.
It is time Russia came forward in modernising Bangladesh's old power stations as it had built 20 per cent of those just after 1971 independence. If Russia extends its support for balancing, modernisation, replacement and expansion of such power plants sooner rather than later, it will be possible for Bangladesh to lessen its dependence on highly expensive quick rental plants. There are also opportunities for expansion of Dhaka-Moscow bilateral trade. Russia's pro-active moves to facilitate wider entry of Bangladesh's readymade garments (RMG) items to its vast market of over 140 million people can be a pace-setter for the purpose.
The accords that were signed during the PM's visit to Russia have opened up new opportunities for the two countries to deepen their bilateral relations in all their facets. Furthermore, the Russian credit line that will now be available for Bangladesh is welcome. It will be easier for all to assess its importance, if its terms and conditions are made public.
Financial Express :: Financial Newspaper of Bangladesh
Published : Friday, 18 January 2013
Prime Minister Sheikh Hasina's visit to Russia has given a boost to Dhaka-Moscow bilateral ties. Three agreements and six memoranda of understanding (MoUs) in different areas have been signed on the occasion. Among such accords, the deal about purchase of defence hardware -- arms and equipment -- for the Bangladesh Armed Forces and one more for building a 2,000 MW nuclear power plant in Rooppur merit particular attention.
Bangladesh needs to have a modern defence force and here hardware is part of modernisation but is not necessarily the sole factor. Most external defence hardware purchases have for long been made from sources other than Russia. The accord with Russia will mean diversification of sources. However, it is not clearly known what kind of defence hardware will now be procured from Russia. As such, it will be premature to comment on this issue at this stage. It must, however, be noted that the rationale behind defence purchase must be set in the light of practical needs of the country in today's world where technology is fast changing in the domain of defence hardware and also where one major emphasis is placed on cost effectiveness and efficiency.
Meanwhile, the accord on setting up the nuclear power plant - a much talked-about subject - in Bangladesh with Russia's support and cooperation will, for obvious reasons, be considered the most important outcome of the PM's visit to Russia. Under it, Russia will give $500 million in loans as part of its construction cost. The deal with Moscow to build a nuclear power plant at Rooppur is otherwise welcome. The demand for power is growing fast in the country with the passage of every day and the failure to meet this demand at affordable rates has virtually cost the Bangladesh economy heavily. Many developed countries have already been meeting a substantial part of their electricity demand from power generated by nuclear plants. Even a number of developing countries have also opted for such plants, for a variety of reasons.
Now that Russia has agreed to extend its support and cooperation for setting up a nuclear plant in Bangladesh, all concerned would expect that follow-up actions will be taken up in earnest to execute the project in time. It will, of course, be critically important for both Russia and Bangladesh to ensure adequate safeguards under proper supervision in accordance with internationally accepted standards and practices of the International Atomic Energy Agency (IAEA). There must not be any compromise on this. This is because a major accident in a nuclear power plant could cause unprecedented havoc. This type of catastrophic accident has severe consequences for all forms of life. Furthermore, the emphasis needs to be put on training up Bangladeshi personnel properly for operation and management of the plant. Transfer of technology has to be on top of the priority list in this regard.
It is time Russia came forward in modernising Bangladesh's old power stations as it had built 20 per cent of those just after 1971 independence. If Russia extends its support for balancing, modernisation, replacement and expansion of such power plants sooner rather than later, it will be possible for Bangladesh to lessen its dependence on highly expensive quick rental plants. There are also opportunities for expansion of Dhaka-Moscow bilateral trade. Russia's pro-active moves to facilitate wider entry of Bangladesh's readymade garments (RMG) items to its vast market of over 140 million people can be a pace-setter for the purpose.
The accords that were signed during the PM's visit to Russia have opened up new opportunities for the two countries to deepen their bilateral relations in all their facets. Furthermore, the Russian credit line that will now be available for Bangladesh is welcome. It will be easier for all to assess its importance, if its terms and conditions are made public.
Financial Express :: Financial Newspaper of Bangladesh
