November 16, 2022
1 min read

India seeks early free trade deal with Bangladesh

Bilateral trade between India and Bangladesh has grown in the last five years. It is now touching almost $2 billion….reports Asian Lite News

The proposed Comprehensive Economic Partnership Agreement (CEPA) between New Delhi and Dhaka has the potential for a new institutional framework and supply chain linkage thereby enhancing bilateral trade and investment, India’s High Commissioner to Bangladesh Pranay Verma said. Verma who met business leaders in Dhaka also underlined the need to expand connectivity between the two neighbours.

Bilateral trade between India and Bangladesh has grown in the last five years. It is now touching almost $2 billion.

Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina have pressed the pedal on deepening economic ties, trade and connectivity between the two nations to deal with the rising geopolitical challenges. Both sides are also working to complete negotiations related to CEPA at a time when Bangladesh is gearing up to exit the list of least developed nations (LDC).

“It is important for both countries that share the world’s fifth largest land border to march ahead together,” Ishfaq Ilahi Choudhury, retired Air Force Officer in Bangladesh, who is now a geopolitical analyst, told India Narrative.

Despite being closely linked, South Asia as a region is one of the least connected. “In South Asia, transport and trade challenges mean that it is about 15-20 per cent less expensive for an Indian company to trade with a counterpart in Brazil or Germany than in Bangladesh.  Improved connectivity can reduce trading costs, lead to greater economic growth, and reduce poverty in South Asia,” Cecile Fruman, World Bank Director, Regional Integration and Engagement, South Asia in an interview said.

(India Narrative)

ALSO READ: Modi, Biden discuss Quad, I2U2

Previous Story

Imran wants US to have a dignified relationship with Pakistan

Next Story

India-B’desh forces agree on effective border management

Latest from -Top News

Trump tariffs send world markets into panic

US benchmark crude oil shed $2.70 to $64.25 a barrel after major oil producers announced they plan to increase production. Brent crude, the international standard, was down $2.63 at $67.51 a barrel

EU prepares retaliation for Trump’s tariffs

The European Commission is assembling a fresh round of counter-tariffs aimed at US goods, adding to two existing lists of potential targets—one of which includes products that were hit by suspended tariffs

US, EU slam China’s war games near Taiwan

US President Donald Trump underscored the need to maintain peace in the Taiwan Strait, advocating for a diplomatic approach to cross-strait tensions while warning against the use of force The United States

£13.9 billion of R&D fund to boost innovation, jobs

Funding outlined to support transformational R&D in areas like life sciences, green energy, engineering and beyond More UK innovators like those developing treatment-transforming dementia tests or building world-leading testing facilities to power

OPEC+ accelerates oil output hikes

Despite the production boost, the group emphasised that future adjustments remain flexible and could be paused or reversed depending on market conditions. Eight OPEC+ nations have unexpectedly decided to accelerate their oil
Go toTop

Don't Miss

U19 World Cup Final: India chase record-extending 5th title

Rew’s wicket triggered a collapse and England lost the final

India, Germany Strengthen Defence Ties in Delhi

The meeting was conducted in a friendly, warm, and cordial