Bangladesh
India-Bangladesh India and Bangladesh agree to ease trade complexities
Dhaka, January 12: Commerce Minister Tipu Munshi said it is possible to increase trade between Bangladesh and India if necessary steps are taken to remove existing trade barriers between the two countries. He said both countries need to take initiative for this.
"Initiatives must be taken to address the trade complexities that exist between the two countries. Peaceful solutions to all problems are possible if we work sincerely," the minister made the remarks during an exchange of views with Indian High Commissioner to Dhaka, Vikram Doraiswami, at the Commerce Minister's office in Dhaka on Monday (January 11).
"Bangladesh is a tested friend of Bangladesh. India and the two countries have close trade and economic ties. Ongoing trade between the two countries has the potential to increase further. It is possible to increase trade by improving customs management at borders including non-tariff barriers," he said.
Praising Vikram Doraiswami, the Commerce Minister said, "The existing problems could have been resolved through talks. It was not possible due to lack of necessary initiatives. There is an opportunity to start new talks. Now I believe the problems will be resolved soon."
Ambassador Vikram Doraiswami said there is more opportunity to increase India's trade with Bangladesh. There are some complications in this case. It is possible to overcome all these problems through talks between the two countries.
The construction of a bridge on the Ramgarh border has created opportunities for import and export of both the countries. It is possible to start activities by introducing customs house and immigration system here. This will benefit the people of the region including Tripura. Necessary steps need to be taken for this. Necessary steps have to be taken to facilitate the formality of customs at the border.
In the last fiscal year 2019-2020, Bangladesh exported goods worth USD 1,096.38 million to India, while importing goods worth USD 5,774 million. If trade complexities are removed, Bangladesh's exports to Indian markets will increase further.
