The Hindu Business Line : `Bangladesh can consider FTA with India'

Bangladesh will look into the possibility of a free trade agreement (FTA) with India provided the business communities of the two countries come out with an agreed list of items for inclusion, according to the Finance and Planning Minister of that country, Mr Saifur Rahman.

Speaking at a meeting in the Capital, he said: "We may not be able to go the full length with such an agreement right away, but we can still make a beginning."

Scope for pact

He added that there was scope for an agreement for freer trade between India and Bangladesh. The meeting was jointly organised by Indian and Bangladesh industry chambers FICCI and FBCCI.

Mr Rahman emphasised the need for mutual recognition of standards, testing, and certification.

He also welcomed technical assistance from India to upgrade testing facilities in his country.

Mr Rahman also said that there is a need for better sharing of information between the Customs points of the two countries in order to facilitate bilateral trade.

11-point agenda

At the meeting, FICCI Past President Mr Y.K. Modi suggested an 11-point agenda that would help achieve the target of doubling bilateral trade flows by 2010 and also would give an impetus to the Indian investments in Bangladesh.

The agenda focuses on issues such as reduction of tariff on both sides to increase market access, implementation of inland waterways agreement, and facilitation of movement of business teams for long duration.

Related Stories:
Bangladesh seeks scrapping of NTBs

More Stories on : Foreign Trade | Foreign Relations

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page