Banglabandh Land Port facilitates Indo-Bangla trade
Tuesday, 3 May 2011
Anu Mahmud
Another new overland trade point has been opened between Bangladesh and India on 22 January, 2011 at Banglabandh in Bangladesh corresponding to Phulbari in India. This sees the fulfillment of a longstanding demand of businessmen from both the countries. Considering the importance that geography lends to this point, this would open a vista of new economic and trade relationship, not only between the two neighbours but also between other regional countries. Given also that this point was opened on September 1, 1997 to facilitate Nepal-Bangladesh transit, but since the trade between the two countries has been going on at a low key, we would hope that the new arrangement will reinvigorate trade and transit between Bangladesh and Nepal as well as between Bangladesh and Bhutan. The skewed balance of trade has been a vexing problem between Bangladesh and India, and whereas Bangladesh had opened its market to unhindered access to foreign goods with the significant liberalisation of trade since the mid-nineties (the time of the BNP first tenure in office ), Indian export benefited greatly by it also. Unfortunately, Bangladeshi goods have had to encounter all sorts of tariff and non-tariff barriers from India, which have not been removed completely as yet in spite of repeated assurances. One should not overlook the fact that economic and trade issue, particularly between Bangladesh and India, tend to influence not only internal politics in Bangladesh but also affect the bilateral relationship. In that context, we consider the statement of the Indian Finance Minister, assuring Bangladesh of freeing another 60 items for export to India, during the ceremony at the borders on January 22, a positive step on the part of India towards addressing the huge bilateral trade imbalance. One would hope that the pledge would be implemented soon given that being the larger neighbour, with an overwhelmingly larger economy, India must take the lead role in ensuring that Bangladesh's trade is not overwhelmed by it. One must take into account the huge potential of the Bangladesh-Phulbari which perhaps will assume more importance in the long run than the currently largest land port, Benapole-Petrapole, because of its potential to become an international trade and transit point, given its geographical location. Apart from trade, with the assurance that immigration facilities will be in place in the next three months on the Indian side, travel between the two countries will become easier too, particularly to southern part of North-east India. Let the potential of the new trading point be maximised for the largest economic benefits of the region, Bangladesh in particular. On January 22, 2011 Indian Finance Minister Mr. Pranab Mukharjee and Bangladesh Minister for Agriculture Begum Matia Chowdhury inaugurated the Banglabandh land port in Panchagarh district in Bangladesh. Indian Finance Minister, in his inaugural speech said, that the port was illustrations of globalisation where geographical boundary was not a barrier; and the Bangladesh minister said, this would not only promote trade but also boost bilateral relations. As we understand, in the words of the two sides the real feelings of the people of their respective sides have been voiced. We shall urge upon the governments and functionaries of both countries to translate the words of the ministers into actions through mutually facilitated trade and improved relationship based on each others' needs and interests. Banglabandha-Phulbari port is a port of far-reaching possibility if all of its potentialities are harnessed by political will and uninterrupted trade by removing all tariff and non-tariff barriers. The land trade which Bangladesh-Nepal-Bhutan now has shall get a leap forward if the port is fully equipped and infrastructural arrangements are made. Trade through this port will be no less important to India as its import from Nepal and Bhutan and transportation of inland commodities to north-eastern provinces will be facilitated immensely saving time and money. Bangladesh's plan to import electricity from Nepal and Bhutn and Nepal's access to Bangladeshi sea ports, if everything goes well, will ease augmenting bilateral and multilateral benefits. Opening up of newer land ports and India's positive attitude towards Bangladesh is encouraging. Bangladesh can now hope that the wide trade gap, that exists, will gradually wither. Bangladesh's trade with India has not only been stunted by tariff barriers there are certain non-tariff barriers too. As the bigger trade partner India's liberal attitude and facilitating measures can help remove them. If needed some concessional or professional treatment from its side could be considered for Bangladesh to strike a logical balance in bilateral trade. We hope that will get India's utmost consideration. The writer may be reached at E-mail: anumahmud@yahoo.com
Another new overland trade point has been opened between Bangladesh and India on 22 January, 2011 at Banglabandh in Bangladesh corresponding to Phulbari in India. This sees the fulfillment of a longstanding demand of businessmen from both the countries. Considering the importance that geography lends to this point, this would open a vista of new economic and trade relationship, not only between the two neighbours but also between other regional countries. Given also that this point was opened on September 1, 1997 to facilitate Nepal-Bangladesh transit, but since the trade between the two countries has been going on at a low key, we would hope that the new arrangement will reinvigorate trade and transit between Bangladesh and Nepal as well as between Bangladesh and Bhutan. The skewed balance of trade has been a vexing problem between Bangladesh and India, and whereas Bangladesh had opened its market to unhindered access to foreign goods with the significant liberalisation of trade since the mid-nineties (the time of the BNP first tenure in office ), Indian export benefited greatly by it also. Unfortunately, Bangladeshi goods have had to encounter all sorts of tariff and non-tariff barriers from India, which have not been removed completely as yet in spite of repeated assurances. One should not overlook the fact that economic and trade issue, particularly between Bangladesh and India, tend to influence not only internal politics in Bangladesh but also affect the bilateral relationship. In that context, we consider the statement of the Indian Finance Minister, assuring Bangladesh of freeing another 60 items for export to India, during the ceremony at the borders on January 22, a positive step on the part of India towards addressing the huge bilateral trade imbalance. One would hope that the pledge would be implemented soon given that being the larger neighbour, with an overwhelmingly larger economy, India must take the lead role in ensuring that Bangladesh's trade is not overwhelmed by it. One must take into account the huge potential of the Bangladesh-Phulbari which perhaps will assume more importance in the long run than the currently largest land port, Benapole-Petrapole, because of its potential to become an international trade and transit point, given its geographical location. Apart from trade, with the assurance that immigration facilities will be in place in the next three months on the Indian side, travel between the two countries will become easier too, particularly to southern part of North-east India. Let the potential of the new trading point be maximised for the largest economic benefits of the region, Bangladesh in particular. On January 22, 2011 Indian Finance Minister Mr. Pranab Mukharjee and Bangladesh Minister for Agriculture Begum Matia Chowdhury inaugurated the Banglabandh land port in Panchagarh district in Bangladesh. Indian Finance Minister, in his inaugural speech said, that the port was illustrations of globalisation where geographical boundary was not a barrier; and the Bangladesh minister said, this would not only promote trade but also boost bilateral relations. As we understand, in the words of the two sides the real feelings of the people of their respective sides have been voiced. We shall urge upon the governments and functionaries of both countries to translate the words of the ministers into actions through mutually facilitated trade and improved relationship based on each others' needs and interests. Banglabandha-Phulbari port is a port of far-reaching possibility if all of its potentialities are harnessed by political will and uninterrupted trade by removing all tariff and non-tariff barriers. The land trade which Bangladesh-Nepal-Bhutan now has shall get a leap forward if the port is fully equipped and infrastructural arrangements are made. Trade through this port will be no less important to India as its import from Nepal and Bhutan and transportation of inland commodities to north-eastern provinces will be facilitated immensely saving time and money. Bangladesh's plan to import electricity from Nepal and Bhutn and Nepal's access to Bangladeshi sea ports, if everything goes well, will ease augmenting bilateral and multilateral benefits. Opening up of newer land ports and India's positive attitude towards Bangladesh is encouraging. Bangladesh can now hope that the wide trade gap, that exists, will gradually wither. Bangladesh's trade with India has not only been stunted by tariff barriers there are certain non-tariff barriers too. As the bigger trade partner India's liberal attitude and facilitating measures can help remove them. If needed some concessional or professional treatment from its side could be considered for Bangladesh to strike a logical balance in bilateral trade. We hope that will get India's utmost consideration. The writer may be reached at E-mail: anumahmud@yahoo.com