Wednesday, 18 May, 2022

India for better trade ties in 4 areas

Indian ambassador seeks FBCCI’s cooperation in boosting bilateral trade in logistics, food processing, automobiles and garments

  • Special Correspondent
  • 19 January, 2022 12:00 AM
  • Print news

India wants to improve trade and investment relations with Bangladesh in the areas of logistics, food processing, automobiles and garments, said Indian envoy in Dhaka.

Vikram K Doraiswami, High Commissioner of India to Bangladesh, paid a courtesy call on president of the country’s apex trade body FBCCI Md Jashim Uddin at the latter’s office in Dhaka on Thursday.

In the last one year, Bangladesh-India trade has increased by 94 percent.

At the end of the current financial year in June 2022, Bangladesh's exports to India are expected to reach $2 billion for the first time.

India is keen to take this trade relationship to a new height, according to the ambassador.  For this, the Indian ambassador sought cooperation of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

Meanwhile, MdJashim Uddin said the development of the logistics sector is the prime agendaof FBCCI.

FBCCI is working to submit a 12-year plan to the government for the development of the logistics.

About potentials of trade between India and Bangladesh, Md Jashim Uddin said India could be a major supplier of yarn and cotton to the garment industry in near future.

Citing some of the Indian companies operating in Bangladesh, the FBCCI chief said they “all are doing great.”

He, therefore, thinks the investment of other Indian entrepreneurs in Bangladesh has huge potentials to be profitable.

During the meeting, FBCCI president also stressed the need to develop the infrastructure in the Indian part of land ports for a better trade communication.

He said poor infrastructure hampers bilateral trade as many products cannot be exported from Bangladesh due to lack of facilities at the Indian ports.

The Indian envoy informed that a new gate would be opened soon at Petrapol land port to facilitate the movement of trucks.

He also assured that the development work at other land ports would be undertaken if those ports are permitted to trade more goods.  Ambassador Doraiswami said his government was keen to facilitate trade between the two neighbouring countries.

The issue will, therefore, get importance ats the secretary-level meeting in February, he added.

The ambassador hoped to launch a forum for CEOs of the two countries.

He said the forum of chief executives of top Indian and Bangladeshi companies could play an effective role in resolving the issuesin bilateral trade.

FBCCI senior vice president Mostofa Azad Chowdhury Babu, vice president Md. Habib Ullah Dawn, directors Rejaul Kariem Rejnu, Bijoy Kumar Kejriwal, Md. Shah Jalal, Mohammed Bazlur Rahman, Dr. Joshodha Jibon Deb Nath, Priti Chakraborty and secretary general Mohammad Mahfuzul Hoque were also present at the meeting.