BD can close trade gap with India through alternative ways

As Bangladesh’s export to India remains below the expectation despite having duty-free access, business leaders and economists say Bangladesh needs to look for alternative ways for closing the trade gap with its important neighbour.
Proper market analysis, producing products by analysing India’s demand with competitive price, removal of non-tariff barriers, encouraging joint ventures (JVs) and the idea of re-export could help boost Bangladesh’s export to India, said industrialists.
“We’ll encourage big Indian companies to have partners in Bangladesh,” special adviser to India Bangladesh Chamber of Commerce and Industry (IBCCI) Abdul Matlub Ahmed told UNB.
He said the Indian big companies could produce products here through joint ventures, and the products could be exported to India and elsewhere in the world availing of duty-free advantage apart from addressing Bangladesh’s domestic demand.
Major Indian imports from Bangladesh include textile fibres, paper yarn, fish, apparel, raw jute, jute goods, fruits, garments, cotton waste, inorganic chemicals, iron or steel articles, salt and cement. Major Indian exports to Bangladesh include cotton, sugar, cereals, vehicles and accessories.