Update February 23, 2015

Dhaka 12-13 am, 30-September, 2020

Bangladesh-India joint business council by April 2015

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23 February 2015, Nirapad News: A joint business council will be set up for Bangladesh and India  by April, 2015. It will identify the major obstacles to the growth of bilateral trade and business between the two countries.

The business council will also recommend ways for quick resolution of the long-standing disputes in the trade, business and investment between Bangladesh and India.

“We have already passed a lot of time without effectively addressing the bottlenecks that are hindering the expected growth of our trade and business with India”, India-Bangladesh Chamber of Commerce and Industry (IBCCI) President Mohammad Ali told the press.”We would like to proceed as fast as we can to set up the joint business council, proposed by West Bengal Chief Minister Mamata Banerjee”, he added.

Mohammad Ali said Mamata suggested that the problems in bilateral trade and business be solved with the joint efforts from a common platform such as the joint business council. “So, we hope to set up the joint business council no later than two months,” he added.

Ali said, they would soon start working with Indian Chamber of Commerce (ICC) to form the business council, which would include government officials and chamber representatives of the two countries. “We will go to Kolkata first for setting up the council, and then to New Delhi to give the new platform the final shape,” he added.

IBCCI president said, after setting up of the business council, business leaders of the two countries would have the opportunity of addressing the problems in bilateral business with coordinated efforts, which would help resolve the drawbacks faster than before.

“We know our problems better and so does our counterpart in India,” the IBCCI president said, observing that all these problems of the businessmen of the two countries would be put together at the business council so those could be resolved with coordinated and effective efforts by the public and private sectors of the two countries.

Ali said India had already withdrawn all kinds of duties on the import of Bangladeshi products, except 25 alcoholic and drug items. But, he said, exports from Bangladesh were still facing huge problems due mainly to the non-tariff and para-tariff barriers by several Indian states.

For example, he said, “We hardly face any problem in exporting goods through Benapole to the West Bengal, but often suffer difficulties in case of exporting to Assam and Tripura because of local tax and tariff barriers.

Referring to the memorandum of understanding (MoU), singed on Saturday between IBCCI and ICC in presence of Mamata, Ali said under the MoU, the two trade bodies would conduct a joint study on the bottlenecks, which are hindering the growth of bilateral trade and business between India and Bangladesh.

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