Minister for Commerce Tofail Ahmed on Thursday urged India to take steps to remove tariff and non-tariff barriers to boost exports from Bangladesh to India. "Due to different tariff and non-tariff barriers, Bangladesh's export to India is not growing at expected levels despite having duty benefits in almost all products except tobacco and liquor." Tofail said.

Inaugurating the 4th Indo-Bangla trade fair as the chief guest, the Minister urged the Indian High Commissioner in Dhaka to take initiatives for removing the barriers so that those can not hinder the bilateral trade.  The India-Bangladesh Chamber of Commerce and Industry (IBCCI) organized the three-day showcase at the Pan Pacific Sonargoan Hotel.

More than 30 companies in the field of automobile, processed food, banking, insurance, home appliances, consumer goods, power, paints, electronics and electrical, textiles, cement manufacturing, and lubricants manufacturing sector are exhibiting their product and services in six pavilions and 30 stalls.

IBCCI President Taskin Ahmed presided over the opening ceremony of the fair, while the Indian High Commissioner in Dhaka, Harsh Vardhan Shringla and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Abdul Matlub Ahamd also spoke as special guests. 

Addressing the meeting Tofail Ahmed also said that Bangladesh exported goods worth $689.78 million in fiscal 2015-16 and at the same time, India exported goods worth $5.70 billion to Bangladesh.

"The trade gap is natural. But, India will have to come forward to remove the trade barriers. We have a lot of expectations from our largest neighboring country India, as they also helped us during our war of liberation."Digital Bangladesh is no longer a dream, now, it is a reality and total exports from Bangladesh will exceed $60 billion by 2021, Tofail hopes.

Shringla said that the Indo-Bangla trade fair offers great opportunity to promote bilateral commercial ties between India and Bangladesh. In 2015-16, Bangladesh exports to India surged 30.8 percent to $689.62 million and Indian exports declined  by 6.3 percent, the Indian High Commissioner pointed out adding that, "The companies from both the countries are also exploring new opportunities for investing and setting up joint ventures in each other's country."
India is interested to set up manufacturing industries in Bangladesh, Shringla said.

He said, "Around $11 billion of investments from India in power, LNG and port sectors in Bangladesh are in the pipeline. India has also been offered sites by Bangladesh for setting up Special Economic Zones exclusively for Indian companies to invest."

"In an important development in waterways/sea connectivity between India and Bangladesh, first container ship will arrive from Kolkata to Pangaon Inland Container Terminal tomorrow under the Coastal Shipping Agreement between two countries," added Shringla.

Abdul Matlub Ahmad said that during the fair they are talking to Indian delegates about BIBN and the fair will held Bangladeshi entrepreneurs to know India closely.He also said, "The fair is not only to promote sale, but also to show Indian capacity."

Feb 17, 2017
Source: Daily Asian Age