FBCCI urges India to cut non-tariff barriers

FE Report FBCCI president A K Azad urged the visiting Indian chief ministers (CMs) to help remove the non-tariff barriers (NTBs) so that Bangladesh could derive benefits from the duty-free access that India granted last Tuesday to 46 Bangladeshi apparel items to market. The chief of the country's apex trade-body said if the NTBs are removed, the existing bilateral trade gap, amounting to more than $3.0 billion and highly tilted in favour of India, will reduce significantly. Mr Azad said these at a luncheon meeting, held in honour of the chief ministers of four north-eastern Indian states. However, the Indian chief ministers, especially Chief Minister of Tripura Manik Sarkar suggested Bangladesh to lobby with the central government in this connection. "We've nothing to do in this regard, you should convince our central government to remove the non-tariff barriers." The FBCCI (Federation of Bangladesh Chambers of Commerce and Industry) president highlighted some important issues which, he felt, needed to be addressed on a priority basis to enhance mutual trade and economic cooperation. Mr Azad also urged the Indian government to take immediate steps to formulate an energy trade agreement among Bangladesh, India, Nepal and Bhutan, covering generation, transmission and distribution of electricity. Replying to this suggestion, the chief minister of Tripura said: "We've no objection to inking a deal with Bangladesh to provide 100 megawatt of electricity from Palatana gas-based plant." Mr Azad said there is a need for facilitating regional connectivity to ensure speedy movement of goods and vehicles to and from Bangladesh, Bhutan, India, Nepal and beyond. He suggested that to ensure speedy clearance and movement of goods, acceptance of certificates issued by the designated national bodies should be ensured in all points of entry as an interim measure. Chief ministers of Assam Tarun Gogoi, Meghalaya Mukul Sangma and Mizoram Lal Thanhawla also spoke in the meeting. Finance Minister A M A Muhith, Commerce Minister Faruk Khan, Prime Minister's Adviser Dr Moshiur Rahman, Bangladesh Bank Governor Dr Atiur Rahman and Indian High Commissioner Rajeet Mitter joined the programme. The city's leading business personalities and leaders of different trade-bodies were also present at the function. Addressing the meeting, the chief minister of Tripura also said Bangladeshi investors can invest in gas-based industries as well as food and agricultural sectors in his state. Chief Minister of Assam Tarun Gogoi said: "We want connectivity in all spheres. We want connectivity of minds also. The basic problems of both the countries are same. I see very bright future for two regions." "We can set up textile industries and agro-processing plants, and also extend cooperation in tourism sector," he added. Chief Minister of Meghalaya Mukul Sangma said both the regions can be turned into attractive destinations for international tourists. "Domestic markets of both the countries are very big. We can also explore these markets," he added.