Improved connectivity to Boost Bilateral Trade between India and Bangladesh : Commerce Ministry

Improved connectivity to Boost Bilateral Trade between India and Bangladesh : Commerce Ministry

Improved connectivity to Boost Bilateral Trade between India and Bangladesh : Commerce Ministry

NEW DELHI: Improved connectivity between the two countries will help a lot in developing trade further says a recent release from the Commerce Ministry. Till only a sometime back, maximum trade between India and Bangladesh was routed through Ports in Singapore. The traditional river waterways that connected various cities in Bangladesh to India were operational till 1965. The recent thrust to rebuild those waterways and develop new routes to ease connectivity will not only be in the interest of bilateral trade between India and Bangladesh, but will also help Indian mainland to connect better with its own North Eastern States.

The CEO of the India-Bangladesh Chamber of Commerce & Industry (IBCCI) on his India visit said that trade growth depends on the developmental progress of Bangladesh. He further said that Bangladesh is growing and hence trade is increasing with India and the rest of the world. India being an immediate neighbour with whom Bangladesh not only shares a long border but also culture, traditions and language will be looking towards India to import the items it needs.

There is immense scope for increasing Food & Beverages (F&B) exports from India to Bangladesh. Presently, Bangladesh’s total import of F&B from the world is $5016.4 million, out of which India is 5th in ranking with exports worth $332.4 million. Bangladesh currently sources 17.2 % of its F&B requirements from Brazil, followed by Indonesia (12.1%), Canada (9.7%), Argentina (9.1%) and India (6.6%).

Source : .dailyshippingtimes

Manjula

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