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India’s cross-border trade with Bangladesh will improve with political stability in the neighbouring nation, Abida Islam, Deputy High Commissioner of Bangladesh in Kolkata, said here on Thursday.
General elections in Bangladesh took place on January 5.
“We are moving towards a stable political regime which will facilitate sound (bilateral) trade. Pre- and post-poll violence did lead to some problems in trade (with India),” Islam told reporters on the sidelines of a conclave on ‘Bilateral Trade: Opportunities and Challenges’ organised by the Bharat Chamber of Commerce.
Bangladesh is currently India’s largest trade partner amongst the SAARC (South Asian Association for Regional Cooperation) nations. The other SAARC countries include Pakistan, Nepal, Maldives and Sri Lanka.
Bilateral trade (with Bangladesh) accounts for around $5 billion, as on FY13. A majority of the trade is though land customs stations with Petrapole, 100-odd km from Kolkata, accounting for the lion’s share.
India primarily exports raw cotton, agri-commodities, vehicles and auto parts, cement and steel to Bangladesh, while the imports include apparels, jute, fish and other food stuff.
While the Deputy High Commissioner could not quantify the losses or impact on trade, she confirmed that there were losses.
“I cannot quantify the exact losses but there will definitely be some impact on trade,” she said adding that the “situation (trade) will improve” with blockades (by the Opposition parties) being lifted.
abhishek.l@thehindu.co.in
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