Delhi for giving Dhaka MFN status in trade: Chidambaram

FE Team | Published: January 07, 2012 00:00:00 | Updated: February 01, 2018 00:00:00

NEW DELHI, Jan 6 (Agencies): Indian Home Minister P Chidambaram today said his country wants to accord Bangladesh the most favoured nation (MFN) status in trade with almost tariff-free imports from the neighbour.
"Joining hands together, so much business can be created on both sides of the border. I think it is important that businessmen look at Bangladesh and India as one market, as a market where goods and services can be produced, traded and exchanged," the minister said at a meeting of North East India Business Summit here.
Chidambaram said, "That is why we are very keen to give Bangladesh the most preferred nation status for trade across the border (so that) trade between the two countries takes place almost tariff-free. We should reach out to Bangladesh," he said.
Stating that the relations between the two neighbours have improved a lot, he said, "I want to pay tribute to the vision and statesmanship of Prime Minister Sheikh Hasina. India and Bangladesh are today closer than ever before. We are perhaps today as close as the day on which Bangladesh was liberated."
He said Bangladesh is blessed with natural resources, especially natural gas and India is blessed with entrepreneurs and capital.
Chidambaram said since India's economy is many times bigger than the economy of Bangladesh, it is New Delhi's responsibility to give access to goods and services from Dhaka.
"It is India's responsibility to ensure that capital flows from India to Bangladesh to start businesses," he said.
Highly praising Bangladesh Premier Sheikh Hasina, the Home Minister said India today has the best of relationship with Bangladesh, thanks to the vision and statesmanship of the Prime Minister.
The Home Minister said India went into many agreements with Bangladesh, especially on territory, the enclaves, the adverse possession areas which had become possible due to the cooperation of the Chief Ministers of Northeastern states, especially, Assam, Tripura, Meghalaya and Paschimbanga.
"They have made it possible to settle these long standing disputes. There are still one or two outstanding issues, but I am confident that we will settle those issues also in 2012," he said.
The minister said the South Asian nation is a bridge between India and its northeast, and between South Asia and Southeast Asia. Bangladesh could become a hub for transit and travel, a hub for manufacturing, he added.