Even as India continues to be an important export destination for ‘Made in Bangladesh’ products including apparel items — as per reports, In 2019, Bangladesh’s exports to India, for the first time reached the billion dollar mark, with goods worth US$ 1.25 billion shipped to the neighbouring nation — the two countries have begun talks on signing a comprehensive economic partnership agreement (CEPA) to enhance trade relations.
This was maintained in media reports, which claimed that Bangladesh’s exports to India are six times more than that of its exports to six member countries of South Asian Association for Regional Cooperation (SAARC) even as it imports the highest number of goods from India after China while adding that Bangladesh proposed the agreement focusing on the challenges during LDC graduation even as experts are, reportedly, of the opinion that if such deal is signed in addition to improving connectivity, trade between the two neighbours will increase.
The report, citing sources at the Commerce Ministry, further underlined that discussions on signing the CEPA (between Bangladesh and India) started last year itself while adding that a study in this regard will be carried out in six months even as it maintained that the Bangladesh Government has allocated Taka 9 million to Bangladesh Foreign Trade Institute (BFTI) to conduct the study while a 10-member advisory committee — the committee held its first meeting at the secretariat on 23 March — headed by Commerce Secretary Md. Jafar Uddin has been formed to facilitate the process.
