Dhaka, Yangon agree to boost trade ties

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Bangladesh and Myanmar Tuesday agreed to enhance trade volume between the two neighbouring countries for mutual welfare, as they tred to give a boost to bilateral cooperation, reports UNB.
The consensus came out of a meeting between Finance Adviser Mirza Azizul Islam and Myanmar Deputy Commerce Minister Brig Gen Aung Tun in the Finance Ministry conference room.
After the talks, the Finance Adviser told newsmen that they arrived at an agreement that the trade volume between two countries should increase.
"Actual trade will be done by the private sector; we are trying to make an enabling framework through policy support," he said.
The two-way trade between the two countries stood only at around US$ 35 million, with Bangladesh suffering a deficit of $30 million.
The Adviser of the caretaker government (CG) said that Bangladesh was thinking about contract farming in Myanmar under which Bangladesh could take lease of farmlands from the neighbour and cultivate agricultural products.
A committee headed by agriculture secretary was formed for this purpose, Aziz told the press.
Bangladesh proposed to Myanmar to utilise their natural gas in producing urea in Bangladesh's fertiliser factories and take back to their country.
The Finance Adviser indicated that to enhance trade with Myanmar, Bangladesh could export pharmaceuticals, cosmetics and ceramic items.
Bangladesh in the second Bangladesh-Myanmar Joint Trade Commission meeting at a city hotel Monday proposed that Myanmar could utilise their natural gas here as the country recently struck gas in Rakhain State.
The visiting Myanmar side requested Bangladesh to set up fertiliser factory in Myanmar while the host told them that the country had already got installed capacity to produce more fertiliser as against a huge investment was required to set up a new factory.