If para-tariff and non-tariff barriers go
DHAKA, APR 26: India is committed to remove all trade barriers between the two countries and improve infrastructures like road, port and rail links for boosting bilateral trade, Indian High Commissioner Pankaj Saran said Thursday. Addressing a reception meeting organised by the apex chamber body Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), the Indian High Commissioner said that steps are underway to remove difficulties relating to testing, warehousing and labeling.
FBCCI convened the meeting to receive the newly appointed high commissioner and let him know the problems the business community is facing while doing business with India. Business leaders, attending the programme demanded that India withdraws all para-tariff and non-tariff barriers to deepen economic relations between the two countries. They also requested the envoy to make the visa process easier and demanded long term multiple visa for businessmen.
Responding to the businessmen, he said that India has already taken steps to open its market to Bangladesh products. This marked a paradigm shift in how we wish to deal with Bangladesh, he said adding Bangladesh goods enjoy zero tariff access to Indian market.
Dweeling on visa, he pointed out that reputed businessmen should normally be granted long-term multiple entry visa as per decision of the last secretary level meeting. He, however, said that the concern would be conveyed to concerned authorities immediately to expedite the process. You will see the improvement soon, he said adding online application for visa has already been made easier and that visitors are getting appointments the next day.
The Indian High commission praised the country for its economic development over the years despite global slow down. A new entrepreneurial class has emerged, and in general, Bangladesh is a more out looking economy now, he said adding, Indian entrepreneurs are interested to invest and open factories here. This is an act of faith in Bangladeshs expertise, skill and creativity.
India as an economy cannot prosper alone and it recognises that both the countries have a stake in each others success. Indias growth offers opportunities to Bangladesh investors and businessmen. And, Bangladesh will help neighbouring Indian states and beyond. Bangladesh can become a hub that connects India with East and South East Asia, he added.
Earlier in his welcome address FBCCI president AK Azad pointed out that a number of issues, including para-tariff and non-tariff impediments, visa complexities and infrastructural bottlenecks were hindering smooth business between the two countries. He urged Indian envoy to form consultative and monitoring committee to review developments.
The meeting, attended by a large number of chamber leaders and businessmen, was addressed among others by Bangladesh-India Chamber of Commerce and Industry president Abdul Matlub Ahmed and FBCCI vice president Jashim Uddin.
Dwelling on various issues of Indo-Bangla trade, the FBCCI president said, if the impediments are removed Bangladeshs export to India will be about US$ 10 billion within the next 5 years from the present scanty figure of 500 million. Presently, Bangladeshs exports to India are confined to a few items, mostly frozen products. To give a level playing field Azad demanded removal of trade barriers and development of infrastructural facilities. He also urged that US$ 1 billion soft loan from India could be used for infrastructural developments.
Azad said products certified by Bangladesh Standards and Testing Institution (BSTI) are still being checked by the Indian side. We have modernised the BSTI. If the BSTI can certify all products, the trade will go up. He urged India to set up laboratories on its side to speed up the products certification process.
Saran said efforts are underway to upgrade eight more land customs stations on the Indian side along the borders with Bangladesh and more border haats to boost trade between the two countries. One border haat along Bangladesh-India boundary in the northeastern state of Meghalaya has already been commissioned while another one will soon be operational, the new Indian envoy said.
Business people attended the meeting opined that Bangladesh could not exploit full benefits from the deals signed so far with India due to non-tariff barriers. As a result, our exports did not rise to the expected level said a businessman urging the envoy to remove the obstacles.
DHAKA, APR 26: India is committed to remove all trade barriers between the two countries and improve infrastructures like road, port and rail links for boosting bilateral trade, Indian High Commissioner Pankaj Saran said Thursday. Addressing a reception meeting organised by the apex chamber body Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), the Indian High Commissioner said that steps are underway to remove difficulties relating to testing, warehousing and labeling.
FBCCI convened the meeting to receive the newly appointed high commissioner and let him know the problems the business community is facing while doing business with India. Business leaders, attending the programme demanded that India withdraws all para-tariff and non-tariff barriers to deepen economic relations between the two countries. They also requested the envoy to make the visa process easier and demanded long term multiple visa for businessmen.
Responding to the businessmen, he said that India has already taken steps to open its market to Bangladesh products. This marked a paradigm shift in how we wish to deal with Bangladesh, he said adding Bangladesh goods enjoy zero tariff access to Indian market.
Dweeling on visa, he pointed out that reputed businessmen should normally be granted long-term multiple entry visa as per decision of the last secretary level meeting. He, however, said that the concern would be conveyed to concerned authorities immediately to expedite the process. You will see the improvement soon, he said adding online application for visa has already been made easier and that visitors are getting appointments the next day.
The Indian High commission praised the country for its economic development over the years despite global slow down. A new entrepreneurial class has emerged, and in general, Bangladesh is a more out looking economy now, he said adding, Indian entrepreneurs are interested to invest and open factories here. This is an act of faith in Bangladeshs expertise, skill and creativity.
India as an economy cannot prosper alone and it recognises that both the countries have a stake in each others success. Indias growth offers opportunities to Bangladesh investors and businessmen. And, Bangladesh will help neighbouring Indian states and beyond. Bangladesh can become a hub that connects India with East and South East Asia, he added.
Earlier in his welcome address FBCCI president AK Azad pointed out that a number of issues, including para-tariff and non-tariff impediments, visa complexities and infrastructural bottlenecks were hindering smooth business between the two countries. He urged Indian envoy to form consultative and monitoring committee to review developments.
The meeting, attended by a large number of chamber leaders and businessmen, was addressed among others by Bangladesh-India Chamber of Commerce and Industry president Abdul Matlub Ahmed and FBCCI vice president Jashim Uddin.
Dwelling on various issues of Indo-Bangla trade, the FBCCI president said, if the impediments are removed Bangladeshs export to India will be about US$ 10 billion within the next 5 years from the present scanty figure of 500 million. Presently, Bangladeshs exports to India are confined to a few items, mostly frozen products. To give a level playing field Azad demanded removal of trade barriers and development of infrastructural facilities. He also urged that US$ 1 billion soft loan from India could be used for infrastructural developments.
Azad said products certified by Bangladesh Standards and Testing Institution (BSTI) are still being checked by the Indian side. We have modernised the BSTI. If the BSTI can certify all products, the trade will go up. He urged India to set up laboratories on its side to speed up the products certification process.
Saran said efforts are underway to upgrade eight more land customs stations on the Indian side along the borders with Bangladesh and more border haats to boost trade between the two countries. One border haat along Bangladesh-India boundary in the northeastern state of Meghalaya has already been commissioned while another one will soon be operational, the new Indian envoy said.
Business people attended the meeting opined that Bangladesh could not exploit full benefits from the deals signed so far with India due to non-tariff barriers. As a result, our exports did not rise to the expected level said a businessman urging the envoy to remove the obstacles.
