India-Bangladesh trade can double to $10 billion by 2018, says CII
26/06/2014 11:02
Industry body Confederation of Indian Industry (CII) said that India-Bangladesh trade could double to USD 10 billion by 2018, provided trading irritants like non-tariff barriers and infrastructure related issues are resolved. “The first stand- alone foreign visit of Sushma Swaraj since taking over as the External Affairs Minister of India to Bangladesh will turn a new leaf in bilateral relations. CII feels that economic cooperation will get a boost and further intensify trade and Investment between the two countries,” stated Chandrajit Banerjee, Director General, CII. Two-way trade between India and Bangladesh stood at USD 6.6 billion in 2013-14 with India’s exports at USD 6.1 billion and imports from Bangladesh at USD 462 million. This represents more than double the value of USD 2.7 billion five years ago. However, the trade imbalance in favor of India and decline in Bangladesh exports to India are of concern. Skewed trade could be redressed with greater investment participation of Indian companies in Bangladesh, said CII. CII has suggested addressing Non-tariff barriers (NTBs) such as harmonization and classification issues and non-recognition of Technical Standards to grow trade.
26/06/2014 11:02
Industry body Confederation of Indian Industry (CII) said that India-Bangladesh trade could double to USD 10 billion by 2018, provided trading irritants like non-tariff barriers and infrastructure related issues are resolved. “The first stand- alone foreign visit of Sushma Swaraj since taking over as the External Affairs Minister of India to Bangladesh will turn a new leaf in bilateral relations. CII feels that economic cooperation will get a boost and further intensify trade and Investment between the two countries,” stated Chandrajit Banerjee, Director General, CII. Two-way trade between India and Bangladesh stood at USD 6.6 billion in 2013-14 with India’s exports at USD 6.1 billion and imports from Bangladesh at USD 462 million. This represents more than double the value of USD 2.7 billion five years ago. However, the trade imbalance in favor of India and decline in Bangladesh exports to India are of concern. Skewed trade could be redressed with greater investment participation of Indian companies in Bangladesh, said CII. CII has suggested addressing Non-tariff barriers (NTBs) such as harmonization and classification issues and non-recognition of Technical Standards to grow trade.
