Indian Minister of Finance and Corporate Affairs Arun Jaitley arrived here on Tuesday on a 3-day official visit to take forward the economic relations between the two countries and discuss ways to further strengthen the ties.
Finance Minister AMA Muhith received the Indian Finance Minister when he arrived at Bangabandhu Air Base Movement Control Cell here at 14:25 pm. an official told UNB.
He is visiting Bangladesh at the invitation of Finance Minister AMA Muhith.
The two Ministers are expected to review the status of economic cooperation and development partnership initiatives taken during the visit of Prime Minister of India Narendra Modi to Bangladesh in June 2015 and Prime Minister of Bangladesh Sheikh Hasina to India in April 2017.
The Minister of Finance and Corporate Affairs of India will hold bilateral meetings with his counterpart and other interlocutors in Bangladesh.
India and Bangladesh have witnessed a deepening of bilateral economic cooperation in recent years, particularly in terms of increasing volumes of trade and investment flows, said the Indian High Commission in Dhaka.
During the visit of Prime Minister Sheikh Hasina to India in April 2017, an Indian Line of Credit of US$ 4.5 billion was announced for Bangladesh.
The dollar credit line agreement for the implementation of this third Line of Credit (LoC) is expected to be signed in the presence of the Ministers of Finance of India and Bangladesh on October 4.
This will bring the total quantum of credit lines extended by India to Bangladesh over the last six years to US$ 8 billion.
The signing of the Third Dollar Credit Line Agreement will enable the implementation of a number of key infrastructure projects of priority to Bangladesh.
In addition, the `Joint Interpretative Notes on the Agreement between India and Bangladesh for the Promotion and Protection of Investments` will also be signed in the presence of the two Ministers.
During the visit, the Indian Minister will address a select audience on the subject of `Macroeconomic Initiatives of the Govt. of India`, at an event organized by the Policy Research Institute of Bangladesh and the High Commission of India.
The Minister of Finance and Corporate Affairs of India along with the Finance Minister of Bangladesh will jointly inaugurate a new scheme for cashless transactions in visa services run by the State Bank of India on behalf of the High Commission of India.
The two Ministers will also inaugurate the Dhaka representative office of the EXIM Bank of India.