Bangladesh, India propose joint task forces to boost business

Bangladesh and India have proposed forming joint task forces to enhance cooperation between businesses of the two countries.

The proposal was made at a meeting between Commerce Minister Khondker Abdul Muktadir and Indian High Commissioner Dinesh Trivedi at the Secretariat on Monday, according to a press release issued by the Ministry of Commerce.

Bangladesh and India discussed a number of issues aimed at strengthening bilateral trade and economic relations, including reopening suspended border haats, making land ports fully operational and lifting restrictions on yarn imports through land routes.

The meeting also discussed expanding bilateral trade, removing barriers to business, promoting joint investment and enhancing cooperation between the business communities of the two countries.

After the meeting, the commerce minister said bilateral trade between Bangladesh and India currently stands at around $13 billion. However, he said the pace of trade had slowed somewhat over the past one and a half years due to various obstacles.

“We discussed how to identify these problems and make bilateral trade easier and more effective,” the minister said.

He said India is Bangladesh’s second-largest trading partner after China and that the two countries have a long-standing economic relationship.

“Restoring land ports to full operational capacity, reopening the suspended border haats and lifting restrictions on yarn imports through land routes have received importance,” the minister said.

The meeting also proposed forming joint task forces to enhance cooperation between businesses of the two countries, he added.

The two sides also discussed creating new investment opportunities through the development of digital infrastructure and facilitating business-to-business connectivity.

Indian High Commissioner Dinesh Trivedi said that although the two countries have differences over some political and economic issues, their people want development and progress.

“Especially for the future of the younger generation, the two countries need to work together,” he said.

Trivedi stressed that Bangladesh and India are independent and sovereign countries and that neither country is bigger or smaller than the other.
“Both countries are equal. Relations must move forward on the basis of this equality,” he said.

The Indian envoy said economic cooperation is the most important factor in improving bilateral relations. Stronger economic ties, he added, would create greater opportunities for cooperation in other areas as well.