India calls for increased bilateral trade with Bangladesh
“There is a chance to establish many more cross-border ventures between the two countries,” Harsh Vardhan Shringla, the Indian high commissioner in Bangladesh said, adding that Bangladeshi companies also have the potential to either export or establish plants in India.
Over the years, the agribusiness sector in Bangladesh has improved its processing facilities. Bangladeshi agricultural products such as fruits, vegetables and spices have huge untapped potential, Industries Minister Amir Hossain Amu said.
The private sector has taken the lead to transform the agricultural sector through value addition and expanding agricultural exports, which include fisheries and processed fruits and vegetables.
India's exports to Bangladesh increased from $1 billion in fiscal 2001-02 to about $6 billion in fiscal 2016-17, and according to rough estimates another $3 billion worth of goods are brought in informally, the minister said.
On the other hand, Bangladesh's exports to India hit roughly half a billion. So, the balance of trade between Bangladesh and India is heavily tilted in favour of India, he added.
Read more at thedailystar.net
