Bangladesh has again called upon the Indian government to remove all non-tariff barriers to help reduce the existing bilateral trade gap, worth about $1.9 billion.
Dhaka also urged New Delhi to peacefully settle all existing border related disputes that often hamper bilateral trade.
The state minister for finance, Shah Muhammad Abul Hussain, made the call Saturday while opening a two-day buyer-seller meet cum exhibition of Indian products at the Dhaka Chamber of Commerce and Industry auditorium.
Indian High Commission in Bangladesh and Chemical and Allied Products Export Promotion Council jointly organised the business meet in association with the Dhaka chamber.
The event opened up a window to the local exporters to directly negotiate with their Indian counterparts as well as for showcasing their respective exportables.
Shah Abul Hussain said the major cause of Bangladesh’s inability to increase exports to India is the existing non-tariff barriers like anti-dumping duties, lengthy banking procedures, technical requirements and standards, inefficiencies and red tapism and unpredictable delays in procedures.
‘These increase uncertainty and the cost of export and decrease the competitiveness of the small and medium enterprise of Bangladesh,’
He said the both countries should utilise the potentials of South Asian Free Trade Agreement to reduce the trade imbalance.
The State Minister sought support from India to increase the exports of Bangladesh under SAFTA by not imposing non-tariff measures on Bangladeshi exports to India.
He hoped that the meeting would help increase individual to individual contacts and act as a forum for exchange of views and ideas with an eventual goal of increasing bilateral trade.
Trade volume between the two counties has increased notably but trade balance heavily tilted in favor of India.
In 1995-96, Bangladesh’s export to India was worth $72 million against the imports from that country worth $ 1.1 billion. And in 2004-05, Bangladesh’s import from India rose to US$ 2.04 billion against the exports worth $144 million only.
DCCI president, MA Momen presided over the opening session which was also addressed among others by economic and commercial minister of Indian High Commission, N Shreevastab, CAPEXIL chairman Samir Kumar Ghosh and executive director, SK Bhattachariya.
