In order to expand bilateral trade between Bangladesh and India, it is necessary to develop the communication infrastructure between the two countries. Due to inadequate infrastructure in the land ports, import-export is taking more time, and the cost of trade is also increasing. As a result, there is no alternative to infrastructure development to keep commercial activities moving.
The views were expressed during a meeting between the representatives of the Dhaka Chamber of Commerce and Industry (DCCI) delegation and the Industries and Commerce Minister of West Bengal, Partha Chatterjee on Saturday (28 May). DCCI President Rizwan Rahman and DCCI members were present on the occasion.
DCCI President Rizwan Rahman said that the import and export of goods are taking more time due to inadequate infrastructure in the land ports of the two countries. As a result, the cost of doing business is increasing. To overcome this situation, it is necessary to take initiative to ensure improved infrastructure. He said that Indian entrepreneurs have already invested about USD 3.55 billion in Bangladesh. At this time, the business leader urged the entrepreneurs of Kolkata to come forward to invest in the economic zones of Bangladesh. Rizwan Rahman opined that non-tariff barriers, simplification of Rules of Origin, and signing of the ‘Comprehensive Economic Partnership Agreement’ between the two countries could play a significant role in further increasing Indian investment in Bangladesh.
West Bengal Industries and Commerce Minister Partha Chatterjee said that there is no alternative to improved infrastructure to keep trade and commerce afloat. Existing barriers to bilateral trade and investment between Bangladesh and India need to be addressed. To this end, the Dhaka Chamber and the Indian Chamber of Commerce can jointly conduct research, the Minister said.
On the same day, members of the Dhaka Chamber delegation visiting West Bengal met Rajiva Sinha, Chairman of West Bengal Industrial Development Corporation (WBIDC) at his office. At the same time, Rajiva Sinha called for enhancing the communication infrastructure, necessary policy support, and interaction between the representatives of the trade organisations to increase bilateral trade and investment. In particular, the rail link between the two countries will speed up the business activities, said a senior official of the WBIDC.
Apart from this, the members of the delegation also participated in the B2B Match-Making organised by the Bengal Chamber of Commerce and Industry. Speaking on the occasion, Bengal Chamber President Subir Chakraborty said that India was interested in developing communication infrastructure between the North-Eastern region of India and Bangladesh.
It may be mentioned that the members of the Dhaka Chamber delegation met Nandini Chakraborty, Principal Secretary of Tourism Department, West Bengal, and a representative of Kolkata Port Trust. Here, facilitation of communication, policy support, removal of existing barriers, etc. were discussed in detail.
