North-eastern India's chamber chief highlights trade prospects for BD

Mohammad Ali Good business prospects await Bangladesh in the north-eastern region (seven sisters) of India, especially in areas of jute and Bangladeshi coal, said the top person of the region's chamber of commerce. "We have huge scope of expansion in use of jute products. Supply to meet the demand is beyond our capability. So we want assistance, cooperation and supply from Bangladesh in this connection," Nilotpol Choudhury, president of Southern North-East Chamber of Commerce (India), told the FE in an interview. "If you go to the West, you will spend only. And you will earn, when you go to East. I have already urged Bangladesh Finance Minister AMA Muhith to look at the East as your money lies there," he continued. "Trade with India's north-eastern region is also an opportunity for Bangladesh to reduce the existing bilateral trade gap between the two countries", he added. Currently, the trade imbalance between the two countries is over US$ 4.0 billion in favour of India, sources said. Mr Choudhury was in Dhaka recently to receive the "Friends of Liberation War Honour" on behalf of his father from the Bangladesh government. He dwelt on different business prospects that could be shared between India's seven-sister region and Bangladesh while talking with the FE at a city hotel. About the possible extent of demand for jute in north-east India, he said, "There are huge demands for jute there." Mentioning the demand for jute-geotextile there, such as jute-made sacks used on the slopes of river banks, new roads and tea gardens etc, the business leader urged the Bangladesh jute industry to explore business prospects in the region. Apart from jute, Bangladesh's coal will also help us a lot, he said. The chamber's president also urged the government to allow them to use the Chittagong port as he said it would benefit both the sides economically. "I urge your government to allow us to sell the tea of Barak valley and Tripura (in India) upon auction at the Chittagong port to the buyers in greater India and abroad," he said. One product will show the way, and other products will follow, he added. If Bangladesh allowed them to use the port, transportation cost of their exportable products and time would be reduced, benefiting the region's people, while Bangladesh would gain access to huge additional income; employment would also be generated at the port, he said. At present, north-eastern India sends export goods, including tea and coal, to Haldia in Paschimbanga or Kanla in Gujarat by long-haul transports. Use of the nearby Chittagong port and the short water-way will reduce their transport costs and save time significantly, Nilotpol Choudhury said. "Our tea-sale through Guahati takes seven days, which will drop to three days if we sell it through Chittagong port, cutting four days' bank interests along with the lowering transport costs," he said, adding that they could pay a part of the 'savings' as charge to the port authorities. Apart from this direct income, he mentioned indirect incomes, such as increase in work volume, employment facility and investment etc. Many things can be done, but some parties, persons, groups or industries should be interested and come forward, he said. The volume of Indian export and import to and from the seven sisters through the Chittagong port will not be less than half a million 'metric tons' per annum, he said adding mainly a huge amount of cement and steel would be imported through the port. Mentioning the apprehension of Bangladesh that its tea price will go down, he said, "There is no reason behind the apprehension as we don't want to sell tea to Bangladesh rather through Bangladesh." The total tea production in the seven sisters comes to 6 million kg yearly.