The uncertainty over duty-free export of eight million pieces of apparel items from Bangladesh to India is likely to be resolved in a week or two, a meeting was told in the city Sunday, reports UNB.
Indian High Commissioner in Dhaka Pinak Ranjan Chakravorty conveyed the latest position on the export to Finance and Commerce Adviser Mirza Azizul Islam.
"The Indian envoy assured that it will be resolved within a week or two," the adviser told reporters after a meeting with India-Bangladesh Chamber of Commerce and Industry (IBCCI) at the Finance Ministry conference room.
The IBCCI President Abdul Matlub Ahmed led a delegation of the new chamber, scheduled for formal launching on July 22.
Aziz said Dhaka already sent its comments to New Delhi on a draft memorandum of understanding (MoU), which India sent earlier proposing a modality for duty-free export of apparels.
India offered Bangladesh to allow duty-free import of the apparel items under SAFTA framework a year back, but the authorities could not yet finalise a modality in this regard.
The IBCCI delegation apprised the adviser of their efforts in reducing the huge trade deficit Bangladesh suffers with India.
"We'll take steps to reduce the trade imbalance… we'll try to boost readymade garments (RMG) export to India in a larger volume," Matlub Ahmed told reporters.
He said the IBCCI would encourage exports from Bangladesh to India, especially to the northeastern Indian states, as well as investments from India to Bangladesh accompanied by transfer of technology.
The chamber sought an exclusive Export Processing Zone (EPZ) in Bangladesh for the investors from India.
The IBCCI also stressed the need for relaxed visa regime for the business community of the two countries and also improved connectivity between the two countries in all modes of transportation.
Decision on duty-free export of 8m pcs apparel to India in a week or two
FE Team | Published: June 25, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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