December 23, 2022
1 min read

India, Bangladesh trade talks to commence at an early date

The last meeting between the Commerce Ministers of the two countries was held in Dhaka in September 2018…reports Asian Lite News

Union Commerce Minister Piyush Goyal and his Bangladesh counterpart Tipu Munshi met in New Delhi on Thursday and agreed to start talks for a trade deal at an early date.

“Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Government of India, and Tipu Munshi, Commerce Minister, Government of Bangladesh met in New Delhi today,” the Ministry of Commerce and Industry said in a statement. “Both sides agreed to starting the CEPA discussions at an early date,” the release added.

The last meeting between the Commerce Ministers of the two countries was held in Dhaka in September 2018. The commerce ministry said both sides held comprehensive discussions to further strengthen bilateral economic relations.

“A Joint feasibility study on a Comprehensive Economic Partnership Agreement (CEPA) has been carried out after the two countries agreed for exploring a bilateral FTA. The study confirmed the CEPA would provide a sound basis for substantial enhancement of trade and commercial partnership between the two countries,” the commerce ministry said.

Further, both sides agreed that CEPA will create new jobs, raise living standards, and provide wider social and economic opportunities in India and Bangladesh. In addition, the partnership would establish reliable and sustainable Regional Value Chains (RVCs).

The ministers discussed various issues of mutual interest including removal of non-tariff barriers and port restrictions, re-opening of border haats, harmonization and mutual recognition of Standards and procedures on both sides, settlement of trade in Indian rupees, strengthening connectivity and trade infrastructure, among others, to realise the full potential of India-Bangladesh economic ties.

Both sides agreed to work together in order to resolve the issues raised during the course of the meeting and ensure that the outcomes expected in the Joint Statement by the two leaders, PM Narendra Modi and PM Sheikh Hasina, in September 2022 are achieved in letter and spirit at the earliest. (ANI)

ALSO READ: India-UK FTA: Technical discussions held on 11 policy areas

Previous Story

Pakistan-born Scottish inventor of Chicken Tikka Masala dies at 77

Next Story

12 members of BNP-led alliance form new coalition

Latest from -Top News

Protests across US against Trump

The largest event was at the National Mall in DC, where demonstrators numbered in the tens of thousands People across the US took to the streets on Saturday to oppose what left-leaning

Namibia voices concern over US tariffs

AGOA is a non-reciprocal trade arrangement aimed at supporting development in African countries through preferential access to US markets The Namibian government has expressed concern over newly imposed US tariffs, warning that

Africa CDC calls for self-reliance

Data from the African Union’s specialised healthcare agency show that the continent, over the past 24 months, has witnessed an “unprecedented surge in public health emergencies,” rising from 152 disease outbreaks in

US to revoke all South Sudan visas

Trump’s administration has taken aggressive measures to ramp up immigration enforcement, including the repatriation of people deemed to be in the US illegallyThe US said on Saturday it would revoke all visas

Panama wants ‘respectful’ ties with US

The US State Department said Landau had “expressed gratitude for Panama’s cooperation in halting illegal immigration and working with the US to secure a nearly 98% decrease in illegal immigration Panama hopes
Go toTop

Don't Miss

BANGLADESH GOES TO POLLS

International election expert teams from the EU are present in

B’desh Unrest Could Benefit India’s Exports

In the global RMG trade ($550 billion in 2023), Bangladesh