Market Digest

Joint feasibility study on CEPA between Bangladesh, India gets momentum

20 May, 2021 12:00 AM printer

The Bangladesh Foreign Trade Institute (BFTI) on Wednesday organised the first stakeholders consultation meeting of the joint study on a Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and India through zoom platform.

The meeting focused on the investment section of the joint study, said a press release.

Chief guest of the meeting Senior Secretary of Ministry of Commerce Dr. Md. Jafar Uddin said, “Mutual recognition in the areas of investment and trade between Bangladesh and India can strengthen the historical bonding and create more opportunities for growth.”

Chief Executive Officer (In-charge) of BFTIO Baidul Azam, who chaired and moderated the event, put emphasis on increasing bilateral investment flows between two countries considering the potentials.

Md. Shawkat Ali Waresi, Ex- Additional Secretary, Ministry of Commerce and sectoral consultant of the study presented the key-note presentation at the meeting.

Stakeholders from diverse sectors provided their inputs for the enrichment of the study.

They urged the Ministry of Commerce to include joint testing facility, one-stop service in India, and opening investment for Bangladeshi investors in India in the proposed Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and India.

All the stakeholders were optimistic that the proposed CEPA agreement will result in removing the investment barriers and higher investment in flow between two neighboring countries.

The Centre for Regional Trade (CRT) under the Indian Institute of Foreign Trade (IIFT) has been nominated to conduct the joint study from the Government of India.

Rizwan Rahman, President of DCCI, Nihad Kabir, President of MCCI, Faruque Hassan, President of BGMEA, Syed Almas Kabir, President of BASIS, Mahbubul Alam, President of CCCI, and Abdul Matlub Ahmad, President of India-Bangladesh Chamber of Commerce and Industry, attended the meeting as business leaders.

Among others, officials from public sectors, business leaders, Indian investors and academicians participated in the meeting as stakeholders.