Dhaka, Delhi agree on comprehensive economic partnership

NEW DELHI: Amidst high decibel campaign in the country against “illegal Bangladeshi termite” by the BJP President Amit Shah, Indian Government has decided on Wednesday to make Bangladesh as a partner country in the Partnership Summit organised by the Commerce Ministry in January next year here.

This was announced by the Commerce & Industry and Civil Aviation Minister, Suresh Prabhu, in Dhaka who is visiting the country for the first time for three days on an official visit.

On Wednesday, New Delhi and Dhaka have agreed to forge a comprehensive partnership to boost trade ties as Bangladesh moves out of the LDC. Commerce Minister Suresh Pravu and his Bangladeshi counterpart Tofail Ahmed took the decision at a bilateral meeting in Dhaka.

“This will be futuristic as well as realistic,” Prabhu said in a joint briefing at the state guesthouse Padma.

India and Bangladesh have an existing trade agreement and both countries are also members of the Agreement on South Asian Free Trade Area or SAFTA, under which India has granted duty-free access to Bangladesh as an LDC.

As Bangladesh graduates from the LDC status in the next few years, Prabhu said there would be a need to have a bilateral arrangement to enhance trade and commerce between the countries.

This is Prabhu’s first official visit to Bangladesh as a minister.

Since his arrival in Bangladesh on Monday, there have been informal one-on-one talks with his counterpart to find out what are the issues that need to be addressed, he said.

“In the formal delegationlevel talks we have decided to address each and every issue that both the countries have faced while dealing with trade with each other,” said Prabhu, flanked by his counterpart.

“This is in line with the great understanding, friendship, and relationship that both the prime ministers share with each other that resulted in the relationship with two close neighbours – one of the best ever we are experiencing today,” he said.

India will be a $10 trillion economy by 2035 and soon after that Bangladesh will be a developed country, Prabhu said. “Young people dominate both the countries.”

So, he said, they have decided to work closely to address the aspirations of the people and societies so that all can benefit.

Taking that into account, they have decided to look at the possibilities of signing a “comprehensive economic partnership agreement”, he said. The Union Minister further said that the economic growth of Bangladesh is a model that could be emulated by other Least Developed Countries in the region. He congratulated the Government of Bangladesh led by Prime Minister Sheikh Hasina for the rapid strides made in the areas of economic growth, poverty eradication, and social and human development.

“Both sides decided to work together at the WTO to infuse dynamism into it. “

As India and Bangladesh operate four border haats on the no man’s land of the border, they have decided to open six more.

One on the Sherpur border will be opened very soon, Ahmed said.

Both sides also decided to give a push for two months from October 15 at the Benapole-petrapole border to clear the congestion so that all the export and import goods can reach the destination on time.