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India, Bangladesh to sort out trade issues
It seems to be a torrent of activities this monsoon on the Indo-Bangla trade front. The Federation of Indian Export Organisation (FIEO) said on Tuesday that it has planned a meeting of Bangladesh exporters with Indian importers in city shortly.

Early this month the Indo-Bangla Trade Fair 2012 was held in Dhaka and the joint trade study team launched a tour of North-Eastern States beginning with Tripura. In July both neighbours are scheduled to meet on the Protocol on Inland Water Transport and Trade.

The trade between the two countries is expected to have grown to over Rs 300 crore (official available statistic up to December, 2011, says Rs 232 crore).

Mr R. K. Agarwal, Eastern Regional Chairman of FIEO, at an interaction with the Bangladeshi Deputy High Commissioner, Ms Abida Islam, said the trade body will hold a meet on trade issues.

The programme is aimed at providing Bangladesh businessmen access to their Indian counterparts to imports textiles , jute and leather and export engineering goods, electronics items, auto parts, agri products and processed foods.

The Bangladesh diplomat said there was a need for greater engagement to sort out trade-related problems and remove bottlenecks. She said traders on both sides of the border face almost identical irritants — delays on the land border posts, payments and absence of efficient mechanisms infrastructure.

“In May, one such issue pertaining to long-term visas was taken up at an official level meeting”, Ms Islam said.

Mr Agarwal said an improvement in the formal and informal trade channels would justify the investments in facilitation measures of the two countries. FIEO also urged that the system of the certification called ‘Clear Record of Findings’ for exports from India be removed altogether.

The Bangladesh Government has already done away with the certification for several products, except for a few.

SOURCE:Business Line

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