India, Bangladesh discuss ways to boost bilateral trade and economic relations

The Indian delegation was led by Rita Teaotia, Commerce Secretary and the Bangladesh delegation was headed by Shubhashish Bose, Secretary, Ministry of Commerce, Government of Bangladesh.

The commerce ministry said in a statement “the two sides held extensive and productive discussions on a variety of issues concerning bilateral trade and economic relations, including development and up-gradation of infrastructure at border trading points, further expansion of the Border Haats of the two countries, identification and resolution of non-tariff issues affecting bilateral trade, regional connectivity under BBIN MVA and ease of investment.”

Both sides agreed to explore the possibilities to further enhance bilateral trade relations and cooperation in fields such as export promotion and capacity building on trade related matters, it said.

Commerce secretaries of both sides also discussed the establishment of an institutional B2B mechanism to provide policy level inputs on trade and investment. The next bilateral meeting will be held in New Delhi at a mutually convenient date.

Meanwhile, bilateral trade between the countries increased to USD 7.52 billion in 2016-17 from USD 6.76 billion in the previous fiscal. Indias main exports to Bangladesh include cotton, iron and steel, vehicles and chemicals, while imports are jute and textiles.