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29 January, 2017 00:00 00 AM
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Tofail urges India to remove barriers to boost bilateral trade

STAFF REPORTER

Bangladesh has exported only US$ 689.62 million to Indian markets in the last fiscal year, while the import volume from India was US$ 5695.78 million in the same fiscal, Commerce Minister Tofail Ahmed said yesterday.

Besides, imposition of antidumping duty on jute goods will also hamper export of Bangladesh jute goods to India and this anti-dumping duty should be withdrawn, the commerce minister also said. 
India on January 5 slapped the antidumping duty on imports of jute and jute goods from Bangladesh and Nepal to “protect the domestic industry”. For Bangladesh, the duty ranges between $19 and $352 per tonne.
“Export-import should be increased between Bangladesh and India removing all the trade barriers. The Indian government has to take initiatives that tariff and non-tariff cannot hamper the bilateral trades between the two brotherly countries,” commerce minister Tofail Ahmed said while addressing a two-day long partnership summit at Visakhapatnam in Andhra Pradesh.
The Indian Chamber of Commerce and Indian Commerce and Industry ministry jointly organized the 2-day long partnership summit on ‘Towards Achieving Sustained Economic and Trade Growth : Can Asia Lead ?’, said a commerce ministry press release.
Among others, Indian finance minister Arun Jaitley, Sri Lankan commerce minister Abdu Rishad Bathiudeen and Indian Commerce and Industry Minister Nirmala Sitharaman were also spoke at the function. “Bangladesh is facing negative impact to export jute products after imposition of antidumping duty on jute products by India. Initiatives for official talks are needed between Bangladesh and India to remove all trade barriers between the two countries,” Tofail Ahmed said. 
Bangladesh’s commerce minister urged the Indian government to withdraw the antidumping duty imposed on Bangladesh’s jute products.
“If trade barriers are removed—Bangladesh would able to increase its export volume in its expected level to Indian markets,” the commerce minister said.
Bangladesh’s commerce minister said, Bangabandhu daughter Prime Minister Sheikh Hasina has declared for 100 special economic zone in Bangladesh, where many countries are investing on various sector.
“Bangladesh government is giving special facilities for foreign investment in these economic zones. Bangladesh now stands on strong economy. The per capita income of people is US$ 1466. Bangladesh government is now implementing mega projects from its own resources,” the commerce minister said.
He further said that Bangladesh will turn into a middle income country by 2021.
Bangladesh’s export volume stands now 34 billion US dollar, he added.

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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