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

China’s growth projections sink

Next Story

12 members of BNP-led alliance form new coalition

Latest from -Top News

Pakistan in the Dark: Power Crisis Boils Over

Regular power outages are a fact of life in Pakistan, but recent developments suggest that the situation is escalating to new extremes….writes Nasir Khattak In early January 2025, a nerve-breaking power outage

Modi, MBZ talk big ties

The call reaffirmed their keenness to “strengthen relations in line with their shared vision to leverage opportunities and deepen strategic cooperation.”…reports Asian Lite News In a significant diplomatic engagement, Prime Minister Narendra

It’s Official: Trump Slaps 25% Tariff on India

Trump issues executive order formalising India’s tariff at 25 pc…reports Asian Lite News New York, Aug 1 (IANS) As the deadline for tariffs neared, US President Donald Trump imposed the threatened tariff

Balochistan not for sale, Trump told

Mir Yar Baloch asserted that Trump’s recognition of the oil and mineral reserves in the region is “indeed accurate.”…reports Asian Lite News Just after US President Donald Trump announced to help Pakistan
Go toTop

Don't Miss

Yunus condemns mob attack at book fair, orders probe 

Yunus said the attack shows contempt for both the rights

India’s Role in Bangladesh Liberation War

As we celebrate the Victory Day in India and Bangladesh,