Commerce Minister Tipu Munshi on Monday said that there is ample scope for further boosting the bilateral trade between Bangladesh and India through addressing the trade barriers, reports BSS.
The Minister said this when Indian High Commissioner to Dhaka Vikram K Doraiswami met him at his office at Bangladesh Secretariat, said a Ministry press release.
Terming India as a tested friend of Bangladesh, Tipu said that a close trade and economic relationship exists between the two countries.
He noted that discussion could be held between the two countries to address the non tariff barriers while the bilateral trade could be further boosted through improving the customs management in the border.
“For this, both the countries will have to take necessary initiatives as well as to take necessary measures for removing the existing trade related complexities. Initiatives will be taken in this regard as it’s possible to
ensure a peaceful solution of all problems through working sincerely.” he added.
The Commerce Minister also hoped that the existing problems would be resolved speedily since an opportunity has come to initiate discussion afresh.
Echoing with the Commerce Minister, the Indian High Commissioner said there is enough scope for further boosting the bilateral trade between Bangladesh and India while all the existing problems between the two countries could be resolved through discussions.
Doraiswami said that a scope for initiating import and export operations has been created through construction of a bridge along Ramgarh border where customs house and immigration formalities could be launched to further boost trade and connectivity.
He said the people of this region including Tripura would be benefitted for this initiative adding that necessary measures would be undertaken to simplify the customs formalities along the border.
According to official data, Bangladesh exports goods worth $1,096.38 million to India in the last fiscal year (2019-20) against the imports of goods worth $5,774 million. Once the trade related complexities are addressed properly, the export of Bangladeshi products to India would further get a boost.