DHAKA: Indo-Bangla trade has found a new window as the Indian government has revised its trade policy with a focus on regional and bilateral trade.
Commerce Minister Tofail Ahmed yesterday said this while briefing reporters, after a meeting with visiting Indian Commerce Secretary Shri Rajeev Kher at his secretariat office in the city.
“As the Indian government is very much liberal in trade, both Bangladesh and India can now play a vital role in South Asian trade and commerce,” he said.
According to Indian High Commission in Dhaka, exports from Bangladesh to India were little over US$257m against its imports worth about $3bn from India during July-December period of the fiscal 2014-15.
“We’ve discussed the ways on how Bangladesh and India can play a significant role in global trade. Our basic focus was to see how India Bangladesh together can integrate in vertical manner in various sectors,” Rajeev Kher told the reporters.
Rajeev Kher also said, “We’ve also discussed about the renewal of trade agreement between Bangladesh and India and several other issues for further trade liberalisation in both sides.”
India has revised trade policy focusing on regional market access among the South Asian countries, he added.
Commenting on the revised India-Bangladesh Trade Agreement, commerce minister said, “The draft of the deal, which has already been finalised, will be signed during the Indian Prime Minister Narendra Modi’s visit to Dhaka in June.”
As per the proposed trade agreement, Bangladeshi vehicles will be able to use Indian territory to transport goods to Nepal and Bhutan while India can also use Bangladeshi ports for commercial purpose, said Ahmed.
As India has long been demanding for duty-free access of 225 Indian products to Bangladeshi market, the government has finally decided to allow duty-free access of 23 Indian products to Bangladesh.
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