BD to press Yangon for shipping links at JTC meeting Jan 14

The government will press Yangon for allowing country's shipping links with Myanmar in the upcoming Bangladesh-Myanmar Joint Trade Commission (JTC) meeting to be held on January 14 next, in Myanmar to boost bilateral trade, officials said Tuesday.
Besides, border trade, cooperation in the power and gas sectors, facilitation and promotion of trade and Asian Clearing Union (ACU) would be discussed on priority basis in the meeting, they said.
The JTC meeting between Bangladesh and Myanmar would be held in Yangon from January 14 to 15. The previous JTC meeting was held in Dhaka last year.
"The meeting will discuss various issues to enhance bilateral trade and introduce border trade and cooperate in power, gas, agriculture and fisheries sectors,' a Joint secretary, ministry of commerce (MoC) told the FE.
"Introducing direct shipping links and opening up of border trade are the highest priority issues for the businessmen of Bangladesh, he said adding that Myanmar's businessmen also want to establish a close tie with us," he added.
Presently, Myanmar is allowed to use Bangladesh's ports. But Bangladeshi ships are not allowed to touch Myanmar ports.
Draft of Standard operating procedure (SOP) and the Agreement of Coastal & Maritime Shipping by Bangladesh have already been finalized. The contract, in this regard, might be signed within February next, if the Bangladesh-Myanmar authorities approve.
"The Myanmar officials concerned will inspect our ports. Already, the Joint Shipping committee of Myanmar has been invited to visit Bangladesh ports," he said.     
Earlier, Myanmar was supposed to sign two separate agreements on setting up of direct shipping links between the two countries during the proposed visit of Myanmar's president Thein Sein in 2012. But the visit was postponed due to ethnic violence in Myanmar. Bangladesh officials already visited three ports in Myanmar. The ports are Yangon, Pathein and Sittw.
According to the proposed agreement, both sides will allow movement of non-conventional vessels or small vessels, between the two countries in a bid to enhance bilateral trade through the waterways.
The Myanmar government is ready to give long-term lease of land to Bangladeshi entrepreneurs for agricultural purposes from which both the countries would benefit.
Officials of the MoC said the JTC meeting would discuss how to carry out most of the transactions through the ACU payment system.
Bangladeshi importers now settle their payments for bulk shipments by bank drafts issued by foreign banks to a third country.
The potential for setting up wholesale border markets at Bangladesh's Teknaf and Myanmar's Maungdaw, a border town, would also be discussed in the meeting.
The volume of bilateral trade between Bangladesh and Myanmar was worth $ 79 million in fiscal year (FY) 2011-12. Bangladesh exported goods worth $ 13.45 million to Myanmar while imported goods worth $ 65.55 million from that country during the fiscal year (2011-2012).