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More bilateral trade with India expected

Published : 07 Mar 2021 09:31 PM | Updated : 08 Mar 2021 12:56 AM

On the 50th anniversary of the country’s independence, Bangladesh is expecting to open new horizon in bilateral trade with India. The trade existing problems related to trade will also be resolved. 

On the other hand, communication development with neighboring country will play a vital role in boosting bilateral trade. 

Commerce Minister Tipu Munshi made the remarks while briefing reporters after a courtesy call on visiting Secretary of Commerce of the Indian Ministry of Commerce and Industry Anup Wadhawan in his secretariat office in the capital on Sunday. 

He said, “We are expecting of opening new doors in trade between the two countries marking the 50th anniversary of the country’s independence. The introduction of railways has facilitated trade between the two countries. Initiatives will be taken to increase trade between the two countries by resolving the ongoing problems in the field of trade through dialogue.”

“We want to do something in the field of trade between the two countries on the occasion of the 50th anniversary of Bangladesh, which will be memorable to the people of both the countries. The ongoing border haats (markets) have created a lot of interest among the people of both the countries. Initiatives have been taken to increase the number of border haats. A few more of them will be inaugurated shortly. All the products on which anti-dumping has been imposed will be resolved through negotiations,” he added. 

The Commerce Minister said that India has expressed interest in increasing investment in Bangladesh. Bangladesh has expressed interest in investing in the food processing and motor vehicle construction industries.

Replying to a question, Tipu Munshi said that, “Bangladesh is continuing its efforts to create trade facilities through signing PTAs and FTAs with different countries. Bangladesh is also working with India to facilitate trade through the signing of the Comprehensive Economic Partnership Agreement (CEPA). Extensive activities have been undertaken for the development of trade after LDC graduation. As a result, after LDC graduation, there will be no problem in the field of trade for the country.”

Responding to another question Tipu Munshi further said, “Steps have been taken to create adequate stocks of essential commodities ahead of the upcoming holy month of Ramadan. At the private level as well as through the Trading Corporation of Bangladesh (TCB), twice as many products will be supplied. As a result, there will be no shortage of products during the holy month of Ramadan and prices will not increase.”

The delegation led by the Commerce Secretary of India included Indian High Commissioner to Dhaka Vikram Doraismami, Commercial Representative of the Indian High Commission, and Additional Secretary to the Ministry of Commerce (FTA) Md. Mahidul Islam, Director General of the WTO Cell (Additional Secretary) Hafizur Rahman was present during the courtesy call.