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Indian high commissioner to Bangladesh Pranay Verma recently said the proposed comprehensive economic partnership agreement (CEPA) could be a game-changer for both the countries in terms of trade. Smooth connectivity is crucial to boosting trade and commerce and there is scope to further expand land routes, railways and waterways between both sides, he said.
Infrastructure development of seven land customs stations is under way and the number of border haats—currently seven—will be increased in future, he said.
Verma was addressing a seminar on ‘Improved Connectivity: Unlocking Economic Potential between India and Bangladesh’, jointly organised by the Indian High Commission and the Dhaka Chamber of Commerce and Industry (DCCI) in Dhaka, a press release from the chamber said.
Bilateral trade between both sides was worth $16 billion in the last fiscal.
DCCI president Mohammad Sameer Sattar said bilateral trade can be expanded to $20 billion by addressing non-tariff barriers and connectivity-related challenges.
"Connectivity improvement between the northeastern region of India and Bangladesh is essential to supporting the regional market and improving our trade with India," Sattar was quoted as saying.
Mashiur Rahman, economic adviser to the prime minister, said Bangladesh may think of using local currencies for bilateral trade. He called for reconsidering the issue of the anti-dumping duty imposed on the raw jute export from Bangladesh.
Source: Fibre2Fashion
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