Indian export to Bangladesh stands at 1.7 billion dollars while Indian import from B’desh stands at 1.50 million dollars during 2005-06.

The Centre is hoping to boost economic-commercial cooperation with Bangladesh to reduce trade surplus in favour of India by adopting steps, said Union Minister of State for Commerce Joyram Ramesh. While inaugurating first-ever single country fair organized by Bangladesh, Mr. Ramesh told reporters that the figure of Indian export to Bangladesh stands at 1.7 billion dollars during the 2005-2006 financial year while Indian import from Bangladesh stands at 1.50 million dollars during the period.

Even as the bilateral trade is in favour of India, Bangladesh enjoys trade surplus in Tripura, he said adding that this trade fair will provide Bangladeshi entrepreneurs to showcase their products. He said the Ministry is trying to remove non-tariff barriers on the basis of case by case to encourage the Bangladeshi traders.

“India has offered eight million garments amounting to Rs. 60 million dollars to be imported duty free”, he said adding that three testing laboratories were being set up Bangladesh to give certificate to the businessmen. Ramesh also stressed on removal of FDI policy in Bangladesh to remove bottleneck in increasing investment in both sides.

Praising the interim government in Bangladesh, the Minister said Indian Government has already offered a proposal amounting to 150 million dollars to improve the rail connectivity in the neighbouring country. Besides, the BRO has taken up a construction work for setting up a bridge at Raghnacherra while HBEL has been entrusted with commissioning a 240 MW power project in Bangladesh, he said.

Mr. Ramesh said the TATA has offered to make an investment amounting to Rs. 3 billion dollars in power, coal and fertilizer sectors. He also underlined the need on value addition to the natural rubber in Tripura. “Out of total 20,000 MT natural rubber, only 2,000 MT is processed in Tripura. This should be stopped immediately to tap the full potential of rubber”, he said.

Impressed by the unique rubber plantation along the Indo-Bangla border, Ramesh urged the Rubber Board to prepare a perspective plan to build up rubber fencing along the international border. He assured he would take up the matter with Ministry of Home Affairs (MHA) and Defence Ministry to get necessary clearance. Meanwhile, inaugurating the trade fair Tripura Chief Minister Manik Sarkar said this kind of fair would help to increase  volumes of trade between India and Bangladesh.

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