India seeks FBCCI help to increase bilateral trade

Indian Ambassador to Bangladesh, Vikram K Doraiswami, says his country wants to improve trade and investment relations with Bangladesh in the areas of logistics, food processing, automobiles and garments.

For this, Doraiswami sought cooperation from the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) to increase trade, during a visit with its President, Md Jashim Uddin, at the latter's office in the capital on Tuesday.

During the meeting, the FBCCI President called for the development of infrastructure on the Indian side of the land ports to increase bilateral trade.

"Poor infrastructure hampers bilateral trade as many products cannot be exported from Bangladesh due to lack of facilities at Indian ports," he said.

Md Jashim Uddin said the apex trade body is working on submitting a 12-year plan to the government for the development of logistics.

The Indian Ambassador said another new gate will soon be opened at Petrapole land port to facilitate the movement of trucks.

Development work for other land ports will be undertaken if these ports are permitted to trade more goods, he assured.  

"Our government is keen to facilitate trade between the two countries and the issue will be given importance at a secretary level meeting next February," Doraiswami said.

Bangladesh-India trade has increased 94% in the last one year.  At the end of the current financial year, Bangladesh's exports to India are expected to reach $2 billion for the first time.

Doraiswami also hoped to launch a CEO forum between the two countries.

The forum of chief executives of top India-Bangladesh companies could play a most effective role in resolving issues of bilateral trade, he said. 

Regarding India's trade potential with Bangladesh, the FBCCI President said India could be a major supplier of yarn and cotton to the garment industry in the near future.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Md Habib Ullah Dawn, directors Rejaul Kariem Rejnu, Bijoy Kumar Kejriwal, Md Shah Jalal, Mohammed Bazlur Rahman, Dr Joshodha Jibon Deb Nath, CIP, Priti Chakraborty, and Secretary General Mohammad Mahfuzul Hoque were present at the meeting.