Bangladesh signed a deal with India to export 8 million pieces of readymade garments to the neighboring country with zero tariffs under the South Asia Free Trade Agreement.
The caretaker government of Bangladesh has initiated a study on the impact of striking free trade agreements (FTAs) with India, Pakistan and Sri Lanka.
This Chamber is being launched by the Federation of Bangladesh Chambers of Commerce & Industry and the Federation of Indian Chamber of Commerce & Industry to provide a high-level forum for accelerating economic partnerships between the two countries.
Indian Foreign Secretary Shivshankar Menon yesterday urged India's smaller neighbours to overcome political issues to become stakeholders in the India-led regional economic growth by dismantling trade and road and water transport barriers.
Describing Bangladesh and Pakistan's fears about having open trade with India as "completely misplaced", former External Affairs Minister Yashwant Sinha on Sunday asked them to understand the logic of mutual economic benefits which should triumph over politics.
Business houses in South Asian region are seeking specific timeframe to remove bottlenecks that hinder trade and investment in the SAARC region. It is sad to note that whatever developments take place in the business and political forums; those are not implemented at the operation level.
It remains unclear to me what the advantages of being part of the Saarc grouping are over entering into bilateral relations with each individual Saarc country instead. I have always like the concept of Bimstec instead.
Bangladesh's business leaders are rather dismayed at India's recent duty-free market access offer, as they have expressed the view that mere duty-free access could not ensure free flow of goods into Indian market unless non-tariff and para-tariff barriers are removed.
Business leaders Sunday expressed their dismay that the SAARC had failed to deliver "much" in the fields of economy and politics in the South Asian region, although it could attract the attention of the international community.