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The Southern India Mills’ Association

Committed to Foster the Growth of the Textile Industry

India, Bangladesh discuss ways to boost trade, investment

Senior officials of India and Bangladesh held detailed discussions in Dhaka on ways to boost bilateral trade and investments.The commerce secretary level talks were held on February 7-8.”The two sides held extensive and productive discussions on issues concerning bilateral trade and economic relations, including development and upgradation of infrastructure at border trading points,” the commerce ministry said in a statement.Both sides also deliberated upon expansion of border haats, identification and resolution of non-tariff issues affecting bilateral trade, regional connectivity under BBIN (Bangladesh-Bhutan-India-Nepal ) MVA (motor vehicles agreement) and ease of investment, it said.The ministry said the two countries agreed to explore possibilities to enhance bilateral trade relations and cooperation in fields of export promotion and capacity building.The commerce secretaries also discussed about establishment of an institutional B2B mechanism to provide policy-level inputs on trade and investment.Bilateral trade between the countries increased to USD 7.52 billion in 2016-17 from USD 6.76 billion in the previous fiscal.India’s main exports to Bangladesh include cotton, iron and steel, vehicles and chemicals, while imports are jute and textiles.