Bangladesh and India have discussed reopening closed border haats, making land ports fully operational and withdrawing the existing restriction on yarn import through land routes as part of efforts to deepen bilateral trade relations.
The issues were discussed at a meeting between Commerce Minister Khandakar Abdul Muktadir and Indian High Commissioner Dinesh Trivedi at the Secretariat on Monday.
After the meeting, the commerce minister told reporters that bilateral trade between Bangladesh and India stands at around $13 billion. However, commercial activities have slowed somewhat because of several obstacles that have emerged over the past one and a half years.
Discussions were held to identify these challenges and explore ways to make trade relations between the two countries smoother and more effective, he said.
Indian High Commissioner to Bangladesh Dinesh Trivedi holds talks with Commerce Minister Khandakar Abdul Muktadir at the Bangladesh Secretariat on Monday. Photo: PID via BSS
The minister said India is Bangladesh's second-largest trading partner after China, noting that the two countries have maintained longstanding economic ties.
Muktadir also mentioned that proposals were made to form a joint taskforce and improve digital infrastructure to strengthen cooperation between businesses in the two countries. The initiatives are aimed at creating new investment opportunities, expanding business ties and accelerating trade.
The minister expressed hope that Bangladesh-India relations would be further strengthened and economic cooperation would reach a new level.
The Indian high commissioner said people in both countries want development and progress despite differences in political and economic views. The two countries, he said, need to work together for the sake of the younger generation.
Economic cooperation is crucial to the development of both countries, Trivedi said, adding that cooperation across sectors would increase if economic relations were strengthened.
The envoy also stressed the importance of joint investment and production. He highlighted Bangladesh's globally successful readymade garment sector, saying India could support the industry by supplying inputs such as zippers, machinery and buttons.
Such cooperation, he said, would further deepen mutual interdependence between the two countries.
Trivedi said he felt proud to see garments carrying the "Made in Bangladesh" label in international markets. He added that Bangladesh's garment sector could expand further through greater joint ventures between the two countries.
