Bangladesh, India sign two pacts on trade, investment; Promoting bilateral trade, investment
UNB, Dhaka
Visiting Indian External Affairs Minister Pranab Mukherjee Monday called on Prime Minister Sheikh Hasina at her official residence Jamuna, when they discussed issues of bilateral interest of the two countries.
Hasina received the Indian FM as he arrived at the Jamuna at 5 PM after official talks with his Bangladesh counterpart, Dr Dipu Moni. Pranab Mukherjee was accompanied by Indian foreign secretary Shiv Shankar Menon and Indian ambassador in Dhaka Pinak Ranjan Chakrabarty.
Foreign Minister Dr. Dipu Moni, State Minister Hasan Mahmud, State Minister for Home Affairs Tanjim Ahmed Sohel Taj, Foreign Secretary M Touhid Hossain, Secretary of the PM’s Office Kazi Aminul Islam and PM’s Press Secretary Abul Kalam Azad were also present. The meeting ended at 6:15 pm.
Bangladesh and India on Monday signed two agreements on trade and investment promotion and protection to facilitate enhanced trade and investment between the two countries.
Visiting Indian External Affairs Minister Pranab Mukherjee and host Commerce Minister Lt Col (rtd) Faruk Khan signed the Bilateral Trade Agreement. The Bilateral Investment Promotion and Protection Agreement was inked by Pranab and Industries Minister Dilip Barua. Foreign Minister Dr Dipu Moni witnessed the signing ceremony held at Hotel Sheraton after formal talks between the two sides at the state guesthouse Padma. The Foreign Minister led the host side at the talks.
The volume of two-way trade between the two next-door neighbors was recorded US$ 3.76 billion in the 2007-08 fiscal year. India enjoys huge trade surplus with Bangladesh as Bangladesh imported Indian goods worth US$ 3.37 billion in the fiscal year while its exports fetched only US$ 358 million from the vast Indian market.
Addressing a post-talks joint press conference, Mukherjee and Moni said they had fruitful and comprehensive discussions on a wide range of bilateral issues.
The Indian foreign minister listed the issues they talked as security, border management, strengthening connectivity, promoting trade and investment, and people-to-people contact.
Dipu Moni said they had comprehensive discussions on how Bangladesh and India can move forward. She said they discussed practical ways of promoting economic relations, two-way trade, reduction of the trade gap and increasing investment. “Discussion on connectivity was held specifically focusing on national interests,” said Foreign Minister Moni.
Besides, matters of security and anti-people activities by fundamentalists and extremists were also discussed. In this context, the two sides shared views on Bangladesh’s proposal on South Asian Anti-Terrorism Task Force.
Dipu Moni said she categorically assured Pranab Mukherjee that Bangladesh wouldn’t allow its territory to be used by any anti-Indian elements to carry out activities against India. She also sought Indian cooperation against elements who are trying to harm the interests of Bangladesh (from the other side).
At the comprehensive talks, Dhaka requested New Delhi to revive the stagnant talks on the longstanding issues of sharing the waters of common rivers and demarcation of land and maritime boundaries. As the two countries struck the package deals, both sides agreed to use the existing “structural mechanisms” to elevate the level of cooperation, Foreign Minister Moni said. Asked whether India would remove para and non-tariff barriers to reduce the trade gap, Pranab said he is aware of the trade imbalance and they are trying to explore how this can be done.
However, being a former Commerce Minister, he said there is no mechanism between the two countries to make the trade balanced. “What is possible is to reduce the gap and keep it within manageable limit.”
Pranab said India already has removed tariff barriers on few Bangladeshi items and he requested Dipu Moni to send him a list on which the Bangladesh government is interested so that India can further prune the ‘negative list’.
Unilaterally, he said, India at the 14th SAARC summit declared that they would allow export of a number of items from LDCs, including Bangladesh, with any duty.
“Our relations witnessed upward swing in the recent past,” he said, adding that enhanced connectivity and linkages are needed in this globalized world to boost trade and ensure prosperity in the region.
Dipu Moni said they had comprehensive discussions on a wide range of bilateral issues: reduction of the trade gap, management of common borders, connectivity, anti-terrorism taskforce in South Asia, sharing waters of the common rivers and security matters.
Asked about the killing of Bangladeshi civilians by Indian BSF, Pranab said the chiefs of BSF and BDR need to work out a mechanism to avoid any unpleasant incident and unnecessary action.
To another question, Pranab said the joint economic commission would meet in New Delhi to discuss issues regarding bilateral trade and targets. Asked about Pakistan’s proxy war and use of Bangladesh as ‘buffer state’ to import terrorists to carry out terrorist activities against India, Dipu Moni said Bangladeshi soil will not be used by any elements inimical to India to work against India.
In reciprocity, said the foreign minister of the newly elected Awami League government, Bangladesh sought the Indian cooperation against elements who are trying to harm Bangladesh’s interests. State Minister for Foreign Affairs Dr Hasan Mahmud was also present at the press conference.
Courtesy: thebangladeshtoday.com
