A new gate will be opened soon on the Indian side of the Benapole-Petrapole border to facilitate the movement of freight trucks. Aside from this, if the volume of import-export goods between the two countries increases further, development work will be done in other land ports of India as well. These issues will be taken up at the secretary-level meeting next month (February).
Bangladesh Federation of Industries and Merchants (FBCCI) President. This was stated by the Indian Ambassador to Bangladesh Vikram Kumar Doraiswami during a courtesy call on Md. Jashim Uddin, President of the Federation of Bangladesh Chambers of Commerce and Industry, on Tuesday (18 January).
The Indian Ambassador also hoped that the launch of a CEO’s forum with the chief executive officers (CEOs) of the top companies of the two countries would be discussed. He said that this forum could play a very effective role in overcoming the existing problems in the field of bilateral trade.
During the meeting held at the FBCCI office in Motijheel, Dhaka, Vikram Doraiswami said that the Government of India was keen to facilitate trade between the two countries. His country wants to improve trade and investment relations with Bangladesh in the sectors of food processing, logistics, automobiles, and clothing. The Ambassador sought the cooperation of FBCCI, the country’s top business body, to give a new dimension to trade between the two countries.
During the meeting, the FBCCI President said that the development of the logistics sector is the main goal of the FBCCI. His organisation is working to submit a 12-year plan to the government for the development of this sector.
In the last year, trade between Bangladesh-India has increased by 94%. At the end of the current 2021-22 fiscal year, Bangladesh’s exports to India are expected to cross USD 200 million for the first time. Regarding India’s trade potential with Bangladesh, Md. Jashim Uddin said that India could be a major supplier of yarn and cotton to Bangladesh’s garments industry in the post-LDC period.
Indian companies are doing well in Bangladesh. Therefore, the investment of other Indian entrepreneurs in Bangladesh is also likely to be profitable. At the meeting, he called for quick development of infrastructure in the Indian part of the land ports to boost bilateral trade.
