The Hindu Business Line : Apex chambers to study FTA with Dhaka

THE apex chambers of both Bangladesh and India - the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Federation of Indian Chambers of Commerce and Industry (FICCI) - are of the unanimous view that free trade between India and Bangladesh shall be advantageous for the development of business relations between the two countries.

The chambers have decided to undertake a more detailed study of the various aspects of Bangladesh-India free trade agreement (FTA) and submit it to their respective Governments, a joint statement has said.

The joint statement issued on Wednesday on the occasion of fifth executive committee meeting of the Bangladesh-India Chamber of Commerce and Industry (BICCI) in Dhaka, said that free trade arrangement will have a multiplier effect on the trade, industry and overall economic growth in the region.

Further, FBCCI and FICCI urged upon the two Governments to involve representatives from the business community in drafting the FTA so that the practical business inputs can be incorporated right from the initial stages. The BICCI Executive Committee also decided to undertake two studies: One on `improvement of trade infrastructure between India and Bangladesh' to be coordinated by FICCI and other on `non-tariff barriers between India and Bangladesh, including harmonisation of customs procedures and documentation' to be coordinated by FBCCI.

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