New Trade Routes

Southasia - - 13 -

Bangladesh has pro­posed In­dia to fol­low new trade routes for im­port of goods in the coun­try. Th­ese routes will im­port goods to seven north­east­ern In­dian states with a high de­mand for Bangladeshi prod­ucts. Re­cently, the de­mand for mo­tor­bikes, air-con­di­tion­ers, re­frig­er­a­tors and other ac­ces­sories has been ris­ing, which In­dia is im­port­ing through Per­trapole, sit­u­ated at the In­dia-Bangladesh bor­der. Un­til now, In­dia has al­lowed im­ports from Bangladesh from Be­napole in Jes­sore, sit­u­ated op­po­site to Per­tapole.

The In­dian side is eval­u­at­ing the prospects of fol­low­ing this al­ter­nate trade route, which will re­duce the im­port costs for In­dian traders. Bangladesh and In­dia en­joy bi­lat­eral trade re­la­tions where trade in­creased by nearly 20 per­cent, ex­ceed­ing US$ 4.5 bil­lion in the fis­cal year (FY) 2011-12. The two-way trad­ing is ex­pected to cross the $5 bil­lion-mark at the end of the on­go­ing FY 2012-13. It is be­lieved that Bangladesh will in­crease its ex­ports to In­dia, fur­ther strength­en­ing bi­lat­eral trade re­la­tions be­tween th­ese neigh­bors.

The pro­posal by Bangladesh comes at a time when In­dia is eye­ing to be­come the re­gional leader in trade and Bangladesh is fast pro­gress­ing in all sec­tors. The rise in ex­ports from In­dia will help Bangladesh in­crease its bal­ance of pay­ments, which will fa­cil­i­tate the lat­ter in its quest of be­com­ing an eco­nomic hub of South Asia.

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