By IANS,
Dhaka: Bangladeshi traders have urged India to withdraw non-tariff barriers and simplify the customs rules to reduce trade deficit between the two nations.
“We urge the Indian government to take effective measures in this regard by providing duty-free access to our products there,” said A.K. Azad, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
He expressed the fear that trade gap between the two South Asian neighbours would further widen unless the existing non-tariff barriers were withdrawn.
Trade deficit between the two countries in the current financial year stands at $4 billion, against the previous fiscal year’s $2.9 billion.
Bangladesh imported Indian products worth about $4.57 billion in the fiscal year 2010-11, against about $512 million worth of goods it exported to India, the web news portal Bangladesh Business News reported Tuesday.
“The trade gap between the countries is gradually increasing. It’s not a good thing for the country,” Khan said at a press conference organised here Sunday ahead of Indian Prime Minister Manmohan Singh’s Dhaka visit Sep 6-7.
Several other trade organisations participated.
Metropolitan Chamber of Commerce and Industry (MCCI) president Amjad Khan Chowdhury said visa-related problem is the biggest barrier to trade relations.
“We’ll not be economically benefited by any agreement if we do not have visa on arrival facility,” Khan added.