Dhaka and New Delhi are progressing towards standard harmonisation to alleviate significant non-tariff barriers between Bangladesh and India.
India’s concept note, currently under review by Bangladesh, highlights concerns about escalating technical and sanitary measures even as efforts to harmonise these standards are seen as crucial for enhancing bilateral trade and economic ties.
This is as per reports, which added mutual alignment of product standards is emphasised by officials to unleash trade potential.
The complexity arising from differing standards issued by BSTI and BIS poses challenges during imports and exports even as harmonising sanitary measures is also deemed essential to mitigate existing barriers.
Meanwhile, experts advocated signing the proposed CEPA to streamline trade complexities even as various initiatives undertaken since the 1990s, including SAFTA, aim to bolster economic and trade relations.
The document suggests identifying priority products facing non-tariff barriers for regulatory harmonisation. Expert agencies could analyse barriers, ranging from manufacturing standards to certification processes, and propose collaborative solutions.
It may be mentioned here technical and sanitary measures in bilateral trades are governed by WTO agreements, aiming to ensure compliance with health and safety regulations. Despite similar policy goals, countries often adopt different standards, complicating trade operations. harmonising regulations is crucial to ease market access, reduce costs, and enhance business efficiency.
