Speakers at a discussion emphasised Tuesday the need for removing bottlenecks that hinder boosting Bangladesh's exports to India even after offering duty free market access by the neighbour.
They also stressed the need for expansion of export basket through product diversification as Bangladesh's exportables are very small in number.
The Centre for Policy Dialogue (CPD), a private think tank organised the dialogue titled 'Utilising Indian Market Access Offer through Promotion of Trade Facilitation' at a city hotel with its chairman Prof Rehman Sobhan in the chair. Minister, trade leaders and secretaries to government attended the programme.
State Minister for Foreign Affairs Shahriar Alam said the government has been working for trade facilitation to raise export to India utilising the market access facility it offered to the least developed countries.
He said steps have been taken to ensure smooth connectivity for which the two neighbours are in discussion to start plying of container train alongside raising number of passenger trains to four from existing two between the two countries.
Mr Alam said opening of a deputy high commission office in Guahati and another consulate office at Chennai are under process to facilitate trade with India.
"There is nothing to be worried much about the high trade imbalance with India. The raw material of US$20 billion apparel industry comes from there. The apparel sector may not be able to fetch such a big amount of foreign currency had the raw materials were not imported from there. So, all trade deficits are not bad," he said.
However, he said, "Despite all the political elements are there in case of Bangladesh-India relations, we have to carry forward trade and investment dialogue to expand bilateral trade."
Addressing as guest of honour, former president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Abdul Awal Mintoo, urged businessmen to seize the opportunity of duty free market access and export more goods to India.
Acknowledging various bottlenecks including lack of infrastructure and existence of non-tariff and para-tariff barriers he said the number of exportable products have to be raised to boost export.
Former president of India-Bangladesh Chamber of Commerce and Industry Abdul Matlub Ahmad urged the government to remove the infrastructure bottlenecks to raise export to India.
Regarding Indian investment to Bangladesh he said investors need to be provided land, gas, and electricity at reasonable price.
Executive director of CPD Prof Mustafizur Rahman in his keynote presentation emphasised the need for deepening trade investment, transport, and people to people connectivity between the two countries.
He identified infrastructure-related bottlenecks, inadequate customs and port facilities, non-tariff barriers and cumbersome export procedures and documentation as barriers to raise export to India.
Mustafizur Rahman suggested introduction of single window facilities, electronic data interchange between land customs stations, establishing automated systems for cargo processing and building dedicated bypass roads and multi-lanes to reduce congestion at land customs stations, among others.
FBCCI leader Manzur Ahmed, former commerce secretary Sohel Ahmed, CPD distinguished fellow Debapriya Bhattacharya also spoke on the occasion.