Staff Reporter
Commerce Minister Faruq Khan yesterday said that the government was actively considering providing transit to neighbouring India and the Trade and Investment Framework Agreement (TIFA) is in the final stage of processing.
“Transit to India is under active consideration of the government. If we find it benefiting the people of the country, we will definitely sign agreement,” the Minister told a questioner at American Chamber’s monthly luncheon meeting at a city hotel.
Faruk said Bangladesh is waiting for the visit of Indian Foreign Minister Pranab Mukharjee, who is due next week in the first high-level trip from India after change of government in Dhaka.
He also said that the proposed Trade and Investment Framework Agreement (TIFA) with the United States was now at the final stage and it would be placed before the Cabinet soon for consideration.
American Chamber of Commerce (AmCham) president Ershad Ahmed presided over the meeting. US Ambassador in Dhaka James F Moriarty was present on the occasion.
Faruq Khan said transit and other trade-related issues like Bangladeshi products, particularly RMG’s, quota-free, duty-free access to Indian market, non-tariff barriers against Bangladeshi products on the Indian side would be discussed in the meeting with the neighbouring Indian Foreign Minister.
“We hope all the issues will be resolved in the meeting and both the governments will be able to get some positive results,” he said.
Faruq Khan, however, said the issue of providing the transit facility had already been agreed upon in the Article 8 of the Indo-Bangla Trade Agreement signed with India way back during Ziaur Rahman’s government.
“The then Bangladesh Commerce Minister, Tanveer Ahmed Siddiky, and his then counterpart Pranab Mukharjee had signed that agreement,” Faruk Khan informed the audience.
The deal was renewed every three years–and the last renewal was made in 2006, during the previous BNP government, when the then Finance Minister, Saifur Rahman, was the signatory.
Replying to another question, the Commerce Minister said the issue of transit with Nepal and Bhutan would also be discussed in the meeting with the Indian Foreign Minister.
“All issues can be resolved if there is political will. I hope both the countries will understand the benefit of the people, because all the governments now in the South Asian region are democratically elected,” he said.
Khan, a former army officer, observed that the politicians have failed to utilise the business and development potentialities of the region. “Trade issues always came as political weapon.”
He alleged that Bangladeshi products could not get easy access to the Indian market because of the non-tariff barriers imposed by the Indian side to create obstacles.
About the TIFA, Faruq Khan said there had been three negotiations on the matter and the government has almost reached the final stage to give the deal the seal of approval.
The US government has been pursuing the Bangladesh government for signing on the proposed TIFA. But all the previous Bangladesh governments had taken time to examine the matter and negotiate with the USA.
Faruq Khan said the present government is a business- friendly one and its one of the main responsibilities is to create environment to restore the confidence of the businessmen.
Courtesy: nation.ittefaq.com
