The issues were discussed at a meeting between Commerce Minister Khandaker Abdul Muktadir and Indian High Commissioner to Bangladesh Dinesh Trivedi at the Secretariat on Monday (August 24). The meeting focused on expanding bilateral trade and removing obstacles to business activities.
After the meeting, the commerce minister said bilateral trade between Bangladesh and India currently stands at nearly $13 billion. However, he said trade activities have slowed somewhat over the past one and a half years due to various obstacles. The two sides discussed identifying and addressing these issues to make bilateral trade easier and more effective.
He said India is Bangladesh’s second-largest trading partner after China. The meeting placed particular emphasis on fully operationalising land ports, reopening closed border haats and lifting restrictions on yarn imports through land routes.
The commerce minister said the meeting also discussed forming a joint task force comprising business representatives from both countries and developing digital infrastructure. The initiatives are aimed at creating new investment opportunities and accelerating bilateral trade.
Indian High Commissioner Dinesh Trivedi, meanwhile, said that despite some differences between the two countries on political and economic issues, ordinary people want development and progress. He said Bangladesh and India need to work together, particularly for the future of their younger generations.
He said Bangladesh and India are two independent and sovereign countries, with neither being bigger or smaller than the other. The two countries should move forward on the basis of equality, he added.
Dinesh Trivedi further said economic cooperation is crucial to improving bilateral relations. Strengthening economic ties, he noted, would also help expand cooperation in other areas.
Emphasising joint investment and production, the Indian high commissioner said Bangladesh’s ready-made garment sector has achieved significant success in the global market. India can support the sector by supplying zippers, machinery, buttons and other materials, he said. Such cooperation would further increase mutual economic interdependence between the two countries.
Praising the international success of Bangladesh’s garment industry, Trivedi said he feels proud when he sees garments marked “Made in Bangladesh” in international markets. He said joint initiatives could help Bangladesh’s garment sector expand further.
The two sides expressed hope that greater cooperation between businesses, new investment opportunities and stronger supply chains would help further expand Bangladesh-India commercial relations in the coming days.
