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The Union Minister for Commerce and Industry, Shri Kamal Nath has said that India is keen to further expand its trade and economic cooperation with Bangladesh. At a meeting with the Bangladeshi Foreign Secretary, Mr. Hemayetuddin who called on him here last evening, Shri Kamal Nath said that India would welcome and assist Bangladeshi efforts to encourage increased economic interaction between the two countries including organizing trade shows and export promotion in India and Indian investments in Bangladesh.
Bangladesh is India’s largest trading partner in the region and the 6th largest destination for our exports. The current bilateral trade is more that US $ 1.5 billion. Major items of exports from India are fabrics, engineering goods, chemicals and pharmaceuticals, transport equipment, cement, fruits and vegetables and coal. India’s imports include raw jute, glycerin, leather, fabric yarn, Jamdani Sarees etc.
Both India and Bangladesh have entered into a bilateral trade agreement and it is being extended from time to time by mutual consent. Shri Kamal Nath said that India was serious in addressing the Bangladeshi concern of trade deficit with India by exploring newer areas of cooperation. Measures such as having an Free Trade Agreement (FTA) with India, according transit rights for Indian goods through Bangladeshi territory, and the export of gas to India could be considered to correct the trade imbalance, Shri Kamal Nath said.
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