Bangladesh wants to maintain duty-free access to Indian markets even after leaving the category of Least Developed Countries (LDCs). Bangladesh will make an official proposal in this regard. Bangladesh has included it as a new agenda in the meeting of trade secretaries of the two countries to be held on 4 March in New Delhi. Earlier, a meeting of a joint working group comprising representatives of the two countries will be held there on 2 and 3 March.
Bangladesh is expected to exit the LDC category in 2026. Bangladesh has proposed to the WTO to receive priority trade benefits for 12 years even after the transition from LDC; which has not yet been settled. A decision on the issue could be made at a ministerial-level conference in Geneva next June.
Bangladesh will seek solutions to various problems of exporting Bangladeshi goods due to the new tax law issued by India in 2020 at this year’s secretary-level meeting. It will focus on the export of Bangladeshi products to Nepal and Bhutan over India. However, the foreign ministry will discuss the matter in more detail at the BBIN meeting on 8 March. Additionally, Bangladesh will demand the withdrawal of the anti-dumping tax imposed by India on Bangladeshi jute products and float glass.
India has issued new customs rules in 2020, under which the country’s customs officials can ask exporters for a variety of information, including the rules of origin, and added value. Dhaka had requested at the secretary-level meeting in Dhaka last year not to implement this rule, citing India’s opposition to the SAFTA agreement.
Meanwhile, the import of goods and raw materials by train from India has started during COVID-19. After the goods are unloaded in Bangladesh, the empty containers return to India. There is an opportunity to export Bangladeshi products in those. However, this requires the approval of the Indian authorities. Bangladesh will propose to export goods to India in empty containers without this approval.
India wants to set up ICD in Sirajganj: Ministry of External Affairs has sent the Indian agendas to the Indian High Commission joint working group and secretary-level meeting in Dhaka. In this, importance has been given to rail container service in the trade of goods. The Indian High Commission in Dhaka has said that although container train service has been running through Benapole-Petrapole, the main land ports of the two countries, since July 2020, it is not increasing due to the infrastructural crisis in Bangladesh. According to the High Commission, India is interested in setting up a container handling centre in Sirajganj, Bangladesh, from where all the containers of import-export will be managed.
