ICCB seeks stronger bilateral economic cooperation with India

International Chamber of Commerce-Bangladesh (ICCB) held a meeting with Dinesh Trivedi, High Commissioner of India to Bangladesh, at the ICC Bangladesh Secretariat on Monday, where both sides exchanged views on strengthening bilateral trade, investment, and regional economic cooperation.

ICCB President Mahbubur Rahman highlighted the longstanding friendship and growing economic partnership between Bangladesh and India. He underscored the importance of stronger private sector engagement to unlock the full potential of bilateral cooperation and promote sustainable economic growth, says a press release.

Bangladesh and India continue to enjoy one of the largest trading relationships in South Asia. Bilateral merchandise trade reached approximately US$11.39 billion in FY2024�"25, with Bangladesh exporting goods worth US$1.76 billion to India and importing US$9.62 billion. The ICCB President emphasised the importance of improving market access for Bangladeshi products, reducing non-tariff barriers, harmonising standards, simplifying customs procedures, and concluding the proposed Comprehensive Economic Partnership Agreement (CEPA) at the earliest opportunity to help narrow the trade gap.

The meeting also discussed opportunities to deepen cooperation in investment, regional value chains, multimodal connectivity, renewable energy, cross-border power trade, digital commerce, fintech, artificial intelligence, climate finance, sustainable manufacturing, healthcare, education, and skills development. Rahman further highlighted the importance of revitalising regional cooperation through SAARC, expediting the implementation of the Bangladesh-Bhutan-India-Nepal (BBIN) Motor Vehicles Agreement, and advancing practical cooperation under BIMSTEC to enhance connectivity, reduce logistics costs, and strengthen regional supply chains.

Rahman reiterated the importance of resolving the anti-dumping measures affecting Bangladeshi exports, particularly jute and jute products, and called for continued dialogue to ensure fair and transparent trade remedies.

Dinesh Trivedi said Bangladesh and India possess all the ingredients necessary to emerge as a global economic powerhouse. He observed that both countries have exceptional strengths in innovation, education, healthcare, and human capital, and stressed that these advantages should be translated into stronger economic cooperation and sustainable development.

The High Commissioner said many longstanding bilateral issues could be resolved through sustained engagement and dialogue at the highest political level. He emphasised the indispensable role of the private sector in driving economic growth, investment, and employment, noting that businesses are the foundation of a stable and prosperous economy.

He also highlighted significant opportunities for establishing joint venture industries in border areas, which could strengthen regional value chains, attract investment, and create employment. Reaffirming the High Commission's commitment to supporting the business community, he encouraged Bangladeshi entrepreneurs and investors to approach the High Commission whenever they encounter challenges in expanding bilateral trade and investment.

Concluding the meeting, the ICCB President expressed ICCB's commitment to working closely with the High Commission of India and ICC India, under the aegis of the Federation of Indian Chambers of Commerce and Industry (FICCI), to further strengthen economic collaboration and promote a more prosperous, sustainable, and mutually beneficial future for both Bangladesh and India.

The meeting was also attended by ICCB Vice-President Naser Ezaz Bijoy; Executive Board Members Abdul Hai Sarker, Tapan Chowdhury, and Simeen Rahman; Deputy High Commissioner of India to Bangladesh Pawan Kumar Badhe; Second Secretary (Economic & Commerce) at the High Commission of India to Bangladesh Gourab Kumar Agarwal; ICCB Secretary General Ataur Rahman; General Manager Ajay Bihari Saha; and Deputy General Manager Syeda Shahnewaz Lotika.