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, Putin Seek Peace In Middle East

Trump said he explained to the Russian president that the Russia-Ukraine conflict “should also end” during the one-hour call. U.S. President Donald Trump said he had a phone call with his Russian

Beirut Airport Reopens

The precautionary closure of Lebanese airspace was part of a broader trend of heightened alert across the Middle East…reports Asian Lite News Lebanese Minister of Public Works and Transport Fayez Rasamny announced

Iran Hits Israel

Following the launches, air defence sirens were activated, sending millions of residents to protected rooms and shelters for more than an hour. Nearly 100 missiles were launched from Iran toward central and

New Medical Team

Sheikh Sultan bin Ahmed attends Sharjah medical graduates’ ceremony at University City Hall. H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of

Nigerian leader’s pardon draws criticisms

During an event to mark the 26th anniversary of Nigeria’s return to democracy, Tinubu pardoned the “Ogoni Nine,” including celebrated writer Ken Saro-Wiwa, and described them as “national heroes.” Nigeria’s President Bola
Go toTop

Don't Miss

Govt refuses to exempt mainstream media from new IT Rules

The government’s clarification came as the National Broadcasters Association (NBA)

India, Israel build partnership on drones, defence tech

Focused on their common threat of international terrorism and the