The Hindu Business Line : Bangladesh seeks scrapping of NTBs

NO BORDERLINE: The Prime Minister of Bangladesh, Begum Khaleda Zia, and the Minister for Commerce & Industry, Mr Kamal Nath, with the Managing Director, Tata Steel Ltd, Mr B. Muthuraman, (extreme left) and the Senior Vice-President, FICCI, Mr Habil F. Khorakiwala, at a luncheon meeting with Indian captains of industry in the Capital on Wednesday. — Kamal Narang

New Delhi , March 22

Expressing concern over the growing trade gap between Bangladesh and India, the Prime Minister of Bangladesh, Ms Khaleda Zia, sought the dismantling of the non-tariff barriers in India to facilitate Bangladeshi exports into the country. She also invited investment from India.

"We welcome foreign investment, particularly from our friendly neighbour India," she said.

At a meeting organised here on Wednesday by industry chambers FICCI, CII and Assocham, Ms Zia urged India to create an improved land port on the Indian side of the Indo-Bangladesh border for boosting trade between the two countries.

The Prime Minister of Bangladesh said that her government is keen to support strategic business partnership between the traders and investors of the two countries in key areas such as information and communication technology.

Free trade pact

In his address, the Union Minister for Commerce and Industry, Mr Kamal Nath, said a free trade agreement (FTA) between the two countries would address the issues of trade deficit considerably. Citing the example of success of Indo-Sri Lankan FTA, the Minister said, "Sri Lankan exports to India in 2001 was barely $45 million. By 2004, its exports to India had grown to $200 million."

Connectivity

On facilitation of Indo-Bangladesh trade, he said, "Greater connectivity is vital. Containerised movement of goods through the riverine route, land route and railways between India and Bangladesh will considerably reduce the existing heavy congestion at the Petrapole-Bena pole station."

He said trade between the two countries had almost doubled in the last five years, growing to $1.6 billion in 2004-2005 from less than $900 million in 2000.

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