The Assam Chronicle

News and Views from Northeast India

 General V.K. Singh Hon'ble Minister of State (IC) DoNER, MoS MEA and OIA Govt. of India, Dr. Mukul Sangma Hon'ble CM of Meghalaya and Mr. Tapan Chakraborty Industry Minister of Tripura with the PM, Bangladesh

Indo-Bangla Business Conclave

Dhaka (Bangladesh) 23rd Aug 2014 - Focusing on the major issues on enhancing bilateral trade and commerce between India and Bangladesh, India-Bangladesh Business Conclave will be organized by the IBCCI of Bangladesh and Indian Chamber of Commerce (ICC) on 24th August, 2014 at Pan Pacific Sonargaon Hotel, Dhaka. The Business Conclave will cover different topics including increasing connectivity between the two countries, development of border trade infrastructure & removal of trade barriers, which will prove beneficial for entrepreneurs of these countries. The 31 member Indian Chamber of Commerce delegation to INDIA-BANGLADESH BUSINESS CONCLAVE organized by ICC and India-Bangaldesh Chamber of Commerce and Industry (IBCCI) with support from Indian High Commission, Dhaka is being lead by Gen (Rtrd) Dr. V K Singh Hon'ble Minister of State (IC) DoNER, MoS MEA and OIA Govt. of India along with Dr. Mukul Sangma, Hon'ble CM of Meghalaya and Tapan Chakrabarty Hon'be Minister Industries and Commerce Govt. of Tripura, Mr. Roopen Roy and Dr. Rajeev Singh , President and Director General Indian Chamber oif Commerce respectively and senior Goverment Officials shall call on Her Excellency Sheikh Hasina, Prime Minister of Bangladesh in the evening.

Sharing an international border of 4096 km through states of West Bengal, Tripura, Assam, Mizoram and Meghalaya; Bangladesh remains India’s one of the most trusted trading partners over years. Bangladesh enjoys preferential tariff lines while exporting to India under the aegis of SAFTA and SAPTA. India is the largest trading partner of Bangladesh. While 15% of Bangladeshi imports come from India, export from Bangladesh constitutes less than 1% of India’s import basket. During 2012-13, Indian export volume to Bangladesh was Rs 280 billion with 52% growth over previous year against import of only Rs 35 billion and its 24% growth. Even though the trade imbalances have persisted over years, corrective measures are being taken to reduce the difference. Bangladesh having rich source of natural resources and significant volume of MSME & agrarian supplies, there lays immense potential to enhance Bangladesh’s trade ties with West Bengal and North East India. Some of the commodities having comparative trade advantages include coal, limestone, stone chips, bamboo, cement, palm oil, wheat, sugar, fruit and vegetables, plastic goods, readymade garments, processed food and drinks. India has taken a lot of trade liberalization measures with Bangladesh and has also been reciprocated, paving the way for a much more enhanced and robust bilateral relationship. India enjoys a trade surplus of $4.5 billion with Bangladesh, so in terms of financing the widening current account deficit, it is a valuable trading partner.