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

Taipei Gets Tough on Beijing

The new move marks one of the most comprehensive efforts in recent years to strengthen Taiwan’s legal defences against Beijing’s covert attempts…reports Asian Lite News Taiwanese lawmakers from both the ruling and

Pakistan Warns Afghanistan War

Pakistan’s Defence Minister Khawaja Asif warned that Islamabad could enter an “open war” with Kabul if peace talks in Istanbul fail to ease rising Afghan border tensions…reports Asian Lite News Pakistan’s Defence

UN Signs Landmark Cybercrime Treaty

Malaysia’s foreign minister warned ASEAN is losing neutrality amid rising global power competition, ahead of the bloc’s annual summit….reports Asian Lite News Sixty-five nations have signed a landmark United Nations convention in

Malaysia Warns ASEAN Neutrality Eroding

Malaysia’s foreign minister warned ASEAN is losing neutrality amid rising global power competition, ahead of the bloc’s annual summit….reports Asian Lite News  Malaysia’s foreign minister has warned Southeast Asian counterparts that the

Trump Treads Carefully on Taiwan

Trump confirmed that Taiwan would be among the topics likely to come up during his discussions with Xi…reports Asian Lite News As US President Donald Trump began his five-day tour of Asia
Go toTop

Don't Miss

Indian variant: WHO warns against hasty conclusions

It is not clear at this point to what extent

India-Japan agree to enhance bilateral security

During the meeting, Modi highlighted the steps taken by the