The Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and India will be a gamechanger for bilateral trade partnership, says Indian High Commissioner to Bangladesh Vikram Kumar Doraiswami.
CEPA is under active discussion of both the governments, he said while addressing a virtual event on Wednesday.
High Commissioner Doraiswami highlighted Duty-Free Quota-Free market access available to Bangladesh products under SAFTA since 2011.
He said India’s vast consumer market offers enormous opportunities for the quality food products from Bangladesh and underscored the importance of linkages among trade bodies.
The High Commissioner also emphasized the importance of finalizing reciprocal arrangements with regard to food safety standards and rapid upgradation of logistics to enhance such trade.
Focusing on Bangladesh-India trade agricultural and processed food products, Agricultural and Processed Food Products Export Development Authority (APEDA) in association with Bangladesh Fresh Fruits Importers Association and India Bangladesh Chamber of Commerce and Industry organised the virtual conference and India-Bangladesh Trade Fair on Agri Products.
The meet brought together key stakeholders from respective trade bodies and governments on a common platform for strengthening strategic cooperation between India and Bangladesh in the agri-food sector.
Md Alamgir, Chairman, Bangladesh Land Port Authority, highlighted that the Bangladesh government is in the process of phased development and upgradation of land ports worth BDT 1.5 billion and starting with ports at Benapole, Sutarkandi, Belonia and Ramgarh.
He said land port authorities of both the countries are committed to seamless operation, passenger facilitation and timely handling of goods for the benefit of business community.
Abdul Matlub Ahmad, President of India Bangladesh Chamber of Commerce and Industry (IBCCI), said World Bank reports suggests that seamless transport connectivity between India and Bangladesh has the potential to significantly increase national incomes on both sides.
He urged the multilateral donors and private sector to invest in the development of ICDs, cold storages and warehousing facilities at the land customs stations. “Infrastructure, both digital and physical,will benefit traders and business community.”
The virtual conference was joined by Dr M Angamuthu, Chairman, APEDA, Salimul Haque Essa, President, Bangladesh Fresh Fruits Importers Association, Shamim Ahamed, President, Halal Meat Importers Association of Bangladesh, Abdul Matlub Ahmad, President, India-Bangladesh Chamber of Commerce and Industry, Dr Pramyesh Basall, Commercial Representative, High Commission of India, Dhaka, Dr Tarun Bajaj, Director, APEDA and other senior officials of APEDA and High Commission of India, Dhaka.
During the conference, an E-Catalogue for the Virtual Buyer Seller Meet was released followed by Virtual Trade Fair B2B meeting and interactions between exporters and importers.
Over 200 businesses from both the countries took part in the event.
