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Bangladesh’s trade with northern India likely to expand

Published : 09 May 2023 10:45 PM

Business and trade between Bangladesh and Northern Indian region is likely to get a boost as businesses of both the countriesare looking for new opportunities to expand their activities. 

A delegation of the Business Association of Nagas(BAN) is visiting Bangladesh on an invitation from the India-Bangladesh Chamber of Commerce and Industry (IBCCI) to explore trade and business opportunities.

Bangladesh is keen on expanding its exports to India and has been developing its land and river ports to facilitate bilateral trade. Industries Minister Nurul Majid Humayun invited the business delegation to utilise Bangladesh’s economic zones, particularly the one located on Sylhet border. 

He said this while exchanging views with the visiting Nagaland delegation at a seminar on Monday. He also stated that the Bangladesh government is ready to provide any necessary support to increase trade and business between the two countries.

“We want to remove any kind of trade barriers and I think we can easily remove those through bilateral meetings with business leaders. We are providing all kinds of 

cooperation for investment in Bangladesh, especially providing maximum opportunities to our neighboring countries,” added the minister. 

Indian High Commissioner to Bangladesh, Pranay Kumar Varma, attended the seminar as the special guest and emphasized the need for upgrading existing land port infrastructure to increase trade and business.

The Indian High Commissioner said, “We have always given priority to Bangladesh’s trade with the Northeast region of India. Bangladesh is India’s largest development partner. Almost a quarter of global development cooperation goes to Bangladesh. The recent development of India-Bangladesh relations is strengthening the country’s (Bangladesh) economy.” 

“We have already opened 36 land ports to boost trade between the two countries. Of them, there are five small integrated depots, the last of which is Dawki port in Meghalaya. It can easily be used by Nagaland. With this the connectivity with the Northeast region is increasing more than ever,” he added. 

“Historically Bangladesh and India have close relations. Bangladesh can be a great partner for our Northeast region in terms of mutual development. Besides, both countries can act as gateways for each other in entering the international market to strengthen the economies of both countries. The excellent economic development of Bangladesh and India in the last 10 years reinforces the point of connectivity,” he added further.

On the invitation of IBCC President Abdul Matlub Ahmad, the visiting BAN delegation was led by its president MongkumZamir.