Commerce Minister Tipu Munshi has highlighted that enhanced connectivity with India will help Bangladesh achieve its Sustainable Development Goals (SDGs) targets faster along with economic development.

He fondly remembered his visit to Meghalaya and Assam last year and the interest of business community of India to have more connectivity especially through the waterways. He also spoke on the special and very close relations between India and Bangladesh.
The Commerce Minister was addressing a webinar organized by the High Commission of India (HCI), Dhaka in collaboration with India-Bangladesh Chambers of Commerce & Industry (IBCCI) to discuss “Connectivity for Growth, Prosperity and Development” on Thursday.

More than 150 industry leaders attended the webinar, said the HCI in a press release.

Speaking on the occasion, High Commissioner of India Riva Ganguly Das said “Connectivity has been an important focus of our (India-Bangladesh) mutually beneficial bilateral relation".

She added, India has opened its huge markets to Bangladesh under SAFTA since 2011 wherein, Bangladesh exporters are provided Duty Free and Quota Free market access for 100 % tariff lines except alcohol and tobacoo.

Bangladesh exports registered a significant growth of 42.91 % in the FY 2018-19. She highlighted that both the governments have commissioned a joint study for a bilateral Comprehensive Economic Partnership Agreement which is likely to be completed this year.

The early green shoots of economic recovery are visible both in India and Bangladesh and having more consultative dialogue between the business community, Chambers and think tanks, will further facilitate quick recovery and allow them to explore new business opportunities.
Sheikh Fazle Fahim, President, Federation of Bangladesh Chambers of Commerce & Industries said that enhanced multimodal connectivity in the region will complement the bilateral value chain initiative (BVCI).

He put forward the idea of transshipment of Bangladesh EXIM cargo from Indian ports including third country EXIM cargo could benefit in terms of cost and time savings. He added our bilateral connectivity should look beyond bilateral trade to include the global trade and value chains.

The FBCCI President expressed hope that Air bubble arrangements between India and Bangladesh will help in restoring and further accelerating the B2B dialogue.

Abdul Matlub Ahmed, President, India-Bangladesh Chamber of Commerce moderated the Webinar and highlighted that world over connectivity has played an influential role in shaping regional development.

The change in the world economic scenario and shifting of global value chains has made Bangladesh and India as great investment destination. President IBCCI also announced IBCCI Media awards starting from year  2020 onwards,  to be given for the best performance amongst IBCCI  members.

Nihad Kabir, President Metropolitan Chamber of Commerce and Industry, Mahbubul Alam, President Chittagong Chamber of Commerce and Industry, Dr. Pramyesh Basall, Commercial Representative to High Commission of India and Nurul Alam, Member Finance from BIWTA also participated as guest speakers  in the Webinar.

They highlighted that with the economy returning back to normal these new arteries of trade will help in tapping vast market potential for sustained economic growth.