PM calls on India to promote trade ties to investment relations; FBCCI president urges removal of non-tariff barriers and withdrawal of anti-dumping duty

Bangladesh Prime Minister Sheikh Hasina to enable larger gains Bangladesh-India cooperation urged India to go beyond trade. It should include investment, finance, services technology transfer, and be placed within the context of regional cooperation. She urged the Indian business houses to invest in Mongla and Mirersharai Special Economic Zones which are dedicated to India.

She made this call at the meeting of Indian selected CEO’s with H.E. Sheikh Hasina, Hon’ble Prime Minister of Bangladesh jointly organized by FBCCI and Confederations of Indian Industries-CII on Wednesday morning in Delhi, India.

FBCCI President Md. Jashim Uddin called Indian investors to take advantage of Bangladesh’s prominent and growing domestic market, international market access facilities, one-stop service in BIDA and liberal investment ecosystem.

“Under the impressive leadership of Hon’ble Prime Minister of Bangladesh H.E. Sheikh Hasina, we can proudly say that Bangladesh and India’s relations are scaling up to a robust and diversified economic portfolio complementing Bangladesh’s next tier of development,” he added.

Mr. G. Kishan Reddy, Minister for Development of North Eastern Region, Tourism and Culture, Government of India mentioned that We need to further strengthen the relationship between Bangladesh and India in areas that will help bring benefits to the people of the two countries in a way that is long-lasting and based on respect and trust for each other.

Earlier on Tuesday evening, a meeting titled “New Horizons in India-Bangladesh Economic Relations” was held jointly organized by FBCCI and the Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi.

In that meeting, FBCCI President Mr. Md. Jashim Uddin urged the governments of both countries to address the issues of non-tariff barriers and trade facilitation including port restrictions, procedural bottlenecks, anti-dumping measures in case of commodities like jute and floating glass, testing facilities in port areas and removing logistic disruptions in the export-oriented value chain.  This would enable the two countries to take full advantage of SAFTA.

Commerce Minister Tipu Munshi, MP said, with the geo-political advantage of Bangladesh, there are various sectors and products with huge opportunities including ceramic and glass products.

“Bangladesh has very progressive and industry-friendly policies. “We both should work together for mutual benefit. Business can really take us to a level where everybody can see a better life both in India and Bangladesh,” he mentioned.

Private Industry and Investment Adviser to Prime Minister Salman F Rahman highlighted the investment potential in Bangladesh and stated, “agriculture has been one of the many success stories of Bangladesh and in today’s world after the pandemic, food security has been critical for every country. We want to further capitalize on our manufacturing capabilities along with agro-processing business in Bangladesh”

Among others, Former FBCCI President Abdul Matlub Ahmad, FICCI South Asia Regional Council chair Manoj Chug, and FICCI Director General Arun Chawla also spoke in the Tuesday meeting.

A high-level business delegation led by FBCCI President is visiting India as an entourage of Prime Minister Sheikh Hasina. The delegation reached India on Monday.