Beijing has shown keen interest to sign a Memorandum of Understanding (MoU) on Energy Cooperation with Dhaka. According to sources at the Foreign Affairs Ministry, the Embassy of China in Dhaka had sent a draft MoU on Energy Cooperation between National Energy Administration of the People’s Republic of China and the Ministry of Power, Energy, and Mineral Resources of the People’s Republic of Bangladesh.
The foreign affairs ministry has already written to the Power Division, and the Energy and Mineral Resources Division to take necessary action regarding the issue as signing of the MoU will be helpful in meeting the scarcity of energy in Bangladesh. Considering the significance of energy cooperation on advancing the economic and social development, China wants to sign the MoU, said sources.
The draft MoU also said it is aimed at promoting mutually beneficial cooperation in the filed of development and utilization of energy, improve the energy accessibility, increase the well-being for people, and facilitate the common economic and social development. The MoU will guarantee the security of relevant technical information belonging to the both countries. They also undertake not to reveal such information to any third party without obtaining a written consent of the written consent of the concern country. Initially the MoU will be for two years and it will be automatically renewed for similar period or periods, unless either party gives the other party a written notice of its intention to terminate the MoU at least three months before its expiry date.