(a) whether the Government has identified the manner in which the business relationship with Bangladesh could be strengthened; and
(b) if so, the details thereof?
(a) whether the Government has identified the manner in which the business relationship with Bangladesh could be strengthened; and
(b) if so, the details thereof?
THE MINISTER OF STATE IN THE MINISTRY OF EXTERNAL AFFAIRS
[GEN. (DR) V. K. SINGH (RETD)]
(a) & (b) The Government of India has taken several steps to develop our trade and commercial ties with Bangladesh. As part of concessions under the SAARC framework - SAPTA and SAFTA, India has granted Bangladesh duty-free, quota-free access on all items except tobacco and alcohol. Similar concessions have been provided under the Asia Pacific Free Trade Agreement (APTA). During Prime Minister’s visit to Bangladesh in June, 2015, further steps have been taken including renewal of the bilateral trade agreement and signing of an MoU on establishment of an Indian Special Economic Zone in Bangladesh. Several instruments for facilitating bilateral trade and economic linkages are in place including the Convention for the Avoidance of Double Taxation and Prevention of Fiscal Evasion (DTAC), Bilateral Investment Protection & Promotion Agreement (BIPPA) and Agreement on Establishment of Joint Economic Commission (JEC). Bilateral mechanisms to discuss trade-related issues are also in place including a Joint Working Group on Trade, Commerce Secretary level talks, Protocol on Inland Water Transit and Trade (PIWTT), etc. Trade & commerce, investment & development cooperation are regularly discussed in high level visits. There are also institutional tie-ups between apex trade bodies from both sides.
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