Doraiswami for infrastructure dev to boost Bangladesh-India trade
Publish- February 23, 2021, 05:42 PM
UNB NEWS - UNB NEWS
Update- February 23, 2021, 09:27 PM
Indian High Commissioner to Bangladesh Vikram Kumar Doraiswami paid a courtesy visit to Dhaka Chamber of Commerce & Industry (DCCI) and had a bilateral trade talk with the President of DCCI Rizwan Rahman.
Indian High Commissioner to Bangladesh Vikram Kumar Doraiswami on Tuesday said Bangladesh can export edible oil to India with at 20 percent value addition to the product.
"We would like to establish a unique mechanism to allow Bangladesh’s BSTI certification, especially for the food products as well as other products, including steel, in a reciprocal manner," he said.
He said for goods export and import, railway can be the best cost-effective option and he renewed his call for railway infrastructure and capacity development.
"We’re also very keen to expedite the use of Bangladesh’s existing river ports for goods transportation, but this needs a few regulatory things to be done, including river dredging," said the High Commissioner.
Regarding Indian investment in Bangladesh, he said: “It would be great if we could jointly work to stimulate more Indian businesses to come to Bangladesh and invest in SEZs [Special Economic Zones] as Bangladesh has huge potentials.
The High Commissioner paid a courtesy visit to Dhaka Chamber of Commerce & Industry (DCCI) and had a bilateral trade talk with the President of DCCI Rizwan Rahman.
During the discussion, DCCI President Rizwan Rahman said that the bilateral trade between Bangladesh and India was US$ 6.9 billion in FY 2019-20 where Bangladesh’s export to India was USD 1.10 billion against the import of USD 5.79 billion.
The total FDI Stock from India to Bangladesh as of September, 2020 was USD 645.54 million.
Since 2017, Bangladeshi jute products have been facing anti-dumping duties ranging between USD 19 and USD 351.72 per ton while exporting to India, he added.
Besides, India has enacted Customs Rules 2020 which may create problems in claiming preferential duty for Bangladeshi goods in the Indian market under SAFTA and APTA.