NEW DELHI, April 23 (IANS): India-Bangladesh trade is set to grow further this fiscal with the South Asian economic giant offering a 25 percent increase in tariff free apparel imports, lifting of duties on jute and establishing 'Haats' (markets) at the borders.
These and other steps were announced by Indian Commerce and Industry Minister Anand Sharma on his two-day visit to Dhaka. Sharma held wide-ranging discussions with his Bangladesh counterpart, Commerce Minister Lt. Col. (retd.) Muhammad Faruk Khan.
Bangladeshi exports to India, during the first three quarter of 2010-11, have outstripped the total figure of last fiscal, having touched $359 million.
Among the steps announced by Sharma to further trade ties with Bangladesh are:
- Increasing tariff-free quota of apparel exports from Bangladesh by 25 percent to 10 million pieces;
- Lifting of countervailing duties on all jute exports from Bangladesh;
- Strengthening of infrastructure at borders, including construction of land customs stations and integrated check posts;
- Stepping up schedule for completion of border 'haats' in Meghalaya for a formal launch in June 2011;
- Assistance for the upgradation of Bangladesh Standards and Testing Institution and providing training facilities for capacity building;
- Assistance in the construction of bridge over river Feni, including the construction of the connecting road on the Bangladesh side; and
- Offer to export 300,000 tonnes of par-boiled rice to Bangladesh.
Sharma is to meet Bangladesh Prime Minister Sheikh Hasina Sunday.