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Bangladesh welcomes Indian investment in Chittagong: Foreign minister

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Bangladesh welcomes Indian investment in Chittagong: Foreign minister

Manas Paul, TNN, Nov 11, 2010, 06.34pm IST

AGARTALA: Bangladesh would welcome Indian investment in developing Chittagong port as well as deep sea port at Sonadia Island in the Bay of Bengal, said Bangladesh foreign minister Dr Dipu Mani. At present China is bidding for the two projects which, experts feel, is Beijing's geo strategic String of Pearls policy.

"Why only China, we want all our neighbours to take part in developing Chittagong port and Sonadia Island. And that includes India too", said Dipu Mani. She was addressing a press conference in Agartala after laying the foundation stone of a massive Bangladesh War Memorial at Chottakhola in South Tripura from where in Mukti Yuddhas ( Liberation Fighters ) used to sneak into East Pakistan for guerrilla warfare in 1971.

"We also want other countries like Nepal and Bhutan to use our ports", she said.

Chittagong port assumes strategic importance due to its location in Bangladesh seas with Myanmar and India close by. Sonadia Island is about seven km off the Cox Bazaar. During her visit to Beijing in March last Bangladesh Prime Minister Sheikh Hasina had approached China to invest in her country. China readily agreed and revived the old plans for Kunming to Chittagong via Myanmar tri nation Highway and also mooted the idea of developing the two ports. Recently, Myanmar also gave a green signal to China for construction of the road.

"The proposals for Kunming-Myanmar-Chittagong road and ports development by China are there but no final decision in this regard has yet been taken. But we are positive in our approach", she said. "It would be good if Indian support also comes for these ports", added Bangladesh foreign minister.

The Chinese inroads into Bangladesh infrastructure and trade and business sectors-with about 186 Chinese investment proposals worth $ 320 million registered with 'Board of Investment' till first half of the year rang an alarm bell in the Indian establishments. Chinese foray into Chittagong port, many observed, would make it another Hambantota in Southern Sri Lanka. China is also actively involved in Kyakpiu port in Myanmar and is building a road and oil-gas pipeline from there up to Kunming. Kyakpiu is also very close to Chittagong.

No Indian agency took part in the bidding for Sri Lankan Hambantota port, which ultimately went to Beijing.

In this backdrop, Bangladesh foreign minister's indication that Dhaka would happily agree to Indian involvement in Chittagong and also in Sonadia Island is considered a significant development.

Dipu Mani also reiterated both governments' pledge for strong Indo-Bangla relations.

"Prime Minister Sheikh Hasina had categorically said our land would not be allowed to commit any anti Indian, for that matter any terrorist activities. We are committed to this pledge and our security establishments are working in tandem at bilateral, regional and international level. There is continuous and uninhibited exchange of information at these three layers through various mechanisms", she said adding that despite absence of extradition treaty between the two countries special measures for pushing back the Indian insurgents could always be an option. Mani however indicated that if necessary both the countries could sign the extradition treaty at any moment to expedite smooth exchange of criminals and terrorists.

Bangladesh foreign minister also pointed out that there was an important breakthrough on Wednesday regarding the standoff on disputed enclaves between the two countries.

When her attention was drawn to the disputed 162 enclaves-of them 111 in Indian side and 51 in Bangladesh side, Dipu Mani said the issue was discussed during Sheikh Hasina's visit to India in January last. Accordingly, the Joint border working group formed to look into the matter held a meeting on Wednesday. "I was informed that there was indeed a great success in the meeting", she said and sought to dispel the confusion on resolving issues relating to common rivers and 6.5 kms of un-demarcated border.


Read more: Bangladesh welcomes Indian investment in Chittagong: Foreign minister - The Times of India Bangladesh welcomes Indian investment in Chittagong: Foreign minister - The Times of India
 
Indian should grab this opportunity to further Indo Bangladesh relations...It is good that Bangladesh is cognizant of India's interests
 
Indian should grab this opportunity to further Indo Bangladesh relations...It is good that Bangladesh is cognizant of India's interests

Listen... we have no problem if bhartis invest in bangladesh in any sector... but the indian involvement should be benefacial for bangladesh, not just a 1 sided deal just like the present transit one.
 
Listen... we have no problem if bhartis invest in bangladesh in any sector... but the indian involvement should be benefacial for bangladesh, not just a 1 sided deal just like the present transit one.

You are looking at one deal in isolation (although I must admit, I do not know much about it). Whenever nations deal with each other, they always look at the collective package the relations promise them.
 
You are looking at one deal in isolation (although I must admit, I do not know much about it). Whenever nations deal with each other, they always look at the collective package the relations promise them.

Listen... there are 100s of people those who are interested to invest in chittagong... specially in the sea port... UAE, USA, many european country and so on... even Dubai World wanted to invest as much as 5 billion USD in the sea port.... I am just wondering why this bharti dalal asking for indian involvement in Chittagong where there are many other member who would like to invest... instead of asking bhartis to invest in power, manufacturing and allowing bd goods to enter india freely....... then we would like to see what will the bhartis reaction at that time...
 
Listen... there are 100s of people those who are interested to invest in chittagong... specially in the sea port... UAE, USA, many european country and so on... even Dubai World wanted to invest as much as 5 billion USD in the sea port.... I am just wondering why this bharti dalal asking for indian involvement in Chittagong where there are many other member who would like to invest... instead of asking bhartis to invest in power, manufacturing and allowing bd goods to enter india freely....... then we would like to see what will the bhartis reaction at that time...

Just leave your anti Al, anti- India attitute .........Thts doesn't help you

Well you can got lost of thanks here by this but PDF pe sari duniya khatam nahi ho jati ......:lol:
 
Just leave your anti Al, anti- India attitute .........Thts doesn't help you

Well you can got lost of thanks here by this but PDF pe sari duniya khatam nahi ho jati ......:lol:


Which part do you think i have said wrong.... is there any shortage of people who want to invest in chittagong port??? But when it comes to the fact of allowing bd goods to enter india freely... allowing bd to get its legal share of water bhartis have only 1 answer ... no... disgusting...:mad:
 
Which part do you think i have said wrong.... is there any shortage of people who want to invest in chittagong port??? But when it comes to the fact of allowing bd goods to enter india freely... allowing bd to get its legal share of water bhartis have only 1 answer ... no... disgusting...:mad:

Yup there is.....thats why your foreign minister is inviting us in...and i guess your foreign minister doesn't know about the billions you are talking about
 
Yup there is.....thats why your foreign minister is inviting us in...and i guess your foreign minister doesn't know about the billions you are talking about

Read it by yourself... even AL finance minister is aware of it....

gulfnews : Bangladesh seeks international bids for projects worth $10b


Dubai's DP World has expressed an interest in Chittagong Port and subsequent development of the sea port.

Muhith welcomed their intention.

"We welcome bids by the UAE companies. These will be international competitive bids and we will choose the winner on the basis of the merits and pricing.



So before posting just judge by yourself what will be the validity about the message that I am going to post...
 
Listen... there are 100s of people those who are interested to invest in chittagong... specially in the sea port... UAE, USA, many european country and so on...
Yeah...just give the port to USA and watch the fun :D

I sincerely hope India doesnot invest in this project and let USA do it for us :)
 
Yeah...just give the port to USA and watch the fun :D

I sincerely hope India doesnot invest in this project and let USA do it for us :)

Listen I told earlier we have no problem in the investment by india but it should be beneficial to Bangladesh... as we have lots of interested companies or country in this case... so we should ask india to invest in other sectors of bangladesh where it needs investment... and also want bd government to ask india to allow bd goods to enter freely in india and to ask legal right of water.... but instead of doing all these .... this dalal's are asking india to invest in sea port... :-@.
 
Listen I told earlier we have no problem in the investment by india but it should be beneficial to Bangladesh... as we have lots of interested companies or country in this case... so we should ask india to invest in other sectors of bangladesh where it needs investment... and also want bd government to ask india to allow bd goods to enter freely in india and to ask legal right of water.... but instead of doing all these .... this dalal\'s are asking india to invest in sea port... :-@.
The free trade agreement is also on it\'s way dude...chill :)
 
sami6108...here you go with the free trade agreement.

NEW DELHI, Jan 4 (BSS): Bangladesh and India are planning to sign a free trade agreement as early as 2011.

Trade between the two countries is likely to grow fourfold in about five years once the pact is in place, the Kolkata-based largest circulated English daily the Telegraph reported Monday.

The paper said the drill for the Free Trade Agreement (FTA) was expected to gain momentum after the visit of Bangladesh Prime Minister Sheikh Hasina to Delhi, scheduled on January 11.

Her visit was expected to speed up the FTA process that would open up duty-free export of garments, leather, jute and ceramic products from Bangladesh, it said.

\\\"We are targeting a free trade pact by 2011. We have received positive response from studies that we have carried out on the possibility of a pact,\\\" Bangladesh Commerce Minister Faruk Khan said over the phone to the Telegraph.

India has free trade pacts with only Sri Lanka and the ASEAN, though it is negotiating similar agreements with the European Union, Japan, Australia, New Zealand and the Gulf states.

\\\"This is the best time to take things forward. Both the governmental and party leaders have good relations. We want to cash in on this to garner gains for Bangladesh,\\\" the Telegraph quoted the minister as saying.

The ruling parties of India and Bangladesh -- the Congress and Awami League, respectively -- are on good terms.

Hasina knows the Gandhi family as well as top leaders such as Finance Minister Pranab Mukherjee and Railway Minister Mamata Banerjee.

Studies by various global agencies suggest that Bangladesh, like Sri Lanka, will benefit from the FTA, the Telegraph said.

According to a study, five years after the India-Sri Lanka FTA, the balance in favour of India declined from 15:1 in 1998 to 3.5:1 in 2004. This means for every dollar of Lanka\\\'s exports, India\\\'s exports were $3.5 in 2004 against $15 six years ago.

In 2004, bilateral trade amounted to $1.73 billion -- Indian exports stood at $1.35 billion, while Sri Lanka exported goods worth $382 million.

India was ranked No. 3 in 2004 vis-a-vis exports from Lanka against 21st in 1998.

Sri Lanka\\\'s FTA with India has attracted many multinationals in search of cheap labour and good port facilities. Bangladesh could also see similar investments after the pact.

\\\"We will be engaging with our Indian counterparts during the course of our Prime Minister\\\'s visit and we expect a political decision on trade issues. Once there is a clear political will, everything will follow,\\\" Khan told the Telegraph.

About the negative list, or the list of products, which India does not buy from Bangladesh, is likely to be pruned from over 400 items to almost half, said the newspaper quoting Indian officials.

India has already cut the initial list of 700 products, but Bangladeshi traders were disappointed as key items such as garments and footwear continued to be banned.

\"We have 68 products where we have an advantage and on which there is duty. We have asked for these to be made duty-free. The products include ceramics, jute, garments and leather products,\" said Khan.

Indian officials said India was likely to agree to these demands to reduce the huge trade gap between the two neighbours.

Indo-Bangla free trade deal likely by 2011
 

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