In the last one year, Bangladesh-India trade has increased by 94 percent. At the end of the current financial year, 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. For this, the Indian Ambassador to Bangladesh Mr. Vikram K Doraiswami has sought the cooperation of FBCCI.
On Tuesday, the Ambassador of India to Bangladesh paid a courtesy call on FBCCI President Md. Jashim Uddin. At the meeting held at the FBCCI office in Motijheel, Vikram K Doraiswami said his country wants to improve trade and investment relations with Bangladesh in the areas of logistics, food processing, automobiles and garments.
Meanwhile, FBCCI President Md. Jashim Uddin said that development of the logistics sector is the prime agenda of FBCCI.
The apex trade body is working to submit a 12-year plan to the government for the development of the logistics. On India's trade potential with Bangladesh, the President said India could be a major supplier of yarn and cotton to the garment industry in the near future. Citing some of the Indian companies operating in Bangladesh, the FBCCI Chief said, they all are doing great. Therefore, the investment of other Indian entrepreneurs in Bangladesh has a huge potential to be profitable, he added.
During the meeting, FBCCI President Md. Jashim Uddin called for the development of infrastructure in the Indian part of the land ports to boost bilateral trade. He said poor infrastructure hampers bilateral trade as many products cannot be exported from Bangladesh due to lack of facilities at Indian ports.
The Indian Ambassador informed that another new gate would be opened soon at Petrapol land port to facilitate the movement of trucks. He also assured that development work for other land ports would be undertaken if these ports are permitted to trade more goods.
He said his government was keen to facilitate trade between the two countries.