BD, India to sign border haat deal Oct 23
Wednesday, 20 October 2010
Monira Munni
Bangladesh and India will sign the much talked about border haat agreement on October 23 to pave the ways for launching makeshift frontier bazaars initially at two points.
In this regard, a 22-member business delegation, headed by Commerce Minister Faruk Khan and including 16 top businessmen and trade-body leaders will leave for India on October 21. A memorandum of understanding (MoU) will be signed during the visit, a senior official of Ministry of Commerce (MoC) said.
According to the draft an individual will not be able to trade above $50 at the bazaars, using both Bangladeshi and Indian currencies, while farm and home-made items produced within 10-kilometre radius of the markets will be traded in the haats, to be set up within 75 metres of the frontier.
Items to be traded at the bazaars include farm products, handicrafts, horticulture products, fresh and dry fish, wooden and cane furniture, utensils, farming tools and home-made clothes.
A committee, comprising government officials and representatives of border forces of both the countries, would run and oversee the operation of the haats, official sources said.
The officials added that during the commerce minister's visit to India four major areas will get priority - elimination of trade barriers, increase in export volume to north-eastern Indian states, duty-free market access for 61 Bangladesh items, and relaxing universal Indian ban on cotton export for Bangladesh. The list of 61 items includes 49 ready-made garment (RMG) items.
The major goods under 61 items of the Indian sensitive list include different kinds of RMG, edible soybean oil, refined palm oil, aviation turbine fuel and fuel oil, natural rubber (smoked sheets), toilet or facial tissue stock, sanitary napkin, paper or paperboard labels of all kinds and silk fabrics.
"The list of these 61 items will bring positive benefit, if provided with duty-free facility," the MoC official said.
Earlier, the government sent a list of non-tariff and para-tariff barriers to the Indian government, requesting their removal.
Bangladesh's imports from India in 2008-2009 were $2.841 billion and exports to India were $276.58 million, whereas the total bilateral trade stood at $3.117 billion.
Bangladesh and India will sign the much talked about border haat agreement on October 23 to pave the ways for launching makeshift frontier bazaars initially at two points.
In this regard, a 22-member business delegation, headed by Commerce Minister Faruk Khan and including 16 top businessmen and trade-body leaders will leave for India on October 21. A memorandum of understanding (MoU) will be signed during the visit, a senior official of Ministry of Commerce (MoC) said.
According to the draft an individual will not be able to trade above $50 at the bazaars, using both Bangladeshi and Indian currencies, while farm and home-made items produced within 10-kilometre radius of the markets will be traded in the haats, to be set up within 75 metres of the frontier.
Items to be traded at the bazaars include farm products, handicrafts, horticulture products, fresh and dry fish, wooden and cane furniture, utensils, farming tools and home-made clothes.
A committee, comprising government officials and representatives of border forces of both the countries, would run and oversee the operation of the haats, official sources said.
The officials added that during the commerce minister's visit to India four major areas will get priority - elimination of trade barriers, increase in export volume to north-eastern Indian states, duty-free market access for 61 Bangladesh items, and relaxing universal Indian ban on cotton export for Bangladesh. The list of 61 items includes 49 ready-made garment (RMG) items.
The major goods under 61 items of the Indian sensitive list include different kinds of RMG, edible soybean oil, refined palm oil, aviation turbine fuel and fuel oil, natural rubber (smoked sheets), toilet or facial tissue stock, sanitary napkin, paper or paperboard labels of all kinds and silk fabrics.
"The list of these 61 items will bring positive benefit, if provided with duty-free facility," the MoC official said.
Earlier, the government sent a list of non-tariff and para-tariff barriers to the Indian government, requesting their removal.
Bangladesh's imports from India in 2008-2009 were $2.841 billion and exports to India were $276.58 million, whereas the total bilateral trade stood at $3.117 billion.