Bangladesh to expand infrastructure to boost trade with India's northeast

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"The new industrial policy of the Bangladesh government would be declared soon and it (the policy) would provide enormous scope to develop trade and business with India, especially the northeast region," Bangladesh Industry Minister Dilip Barua said while addressing the Tripura industries and trade fair here Tuesday night.

"The present Bangladesh government wants more close regional and sub-regional economic relations with neighbouring countries.

"Bangladesh Prime Minister Sheikh Hasina's visit to New Delhi (last month) has already given a new momentum that Dhaka wanted to explore the markets in northeast India, Nepal and Bhutan. We want to increase the business manifold with these countries," he said.

Referring to the 1971 Bangladesh liberation war and India's contribution, the minister said his government has identified some emerging industries, including agro and food processing, jute, information technology, automobiles, pharmaceuticals, and manufacturing and engineering, which have huge potential to boost the economy.

Bangladesh is going to set up Special Economic Zones (SEZs) instead of Export Processing Zones (EPZs) to ensure equal scope and facilities for both domestic and foreign financiers.

The visiting Bangladesh minister Tuesday and Wednesday held a series of meetings with Tripura Chief Minister Manik Sarkar, state Commerce Minister Jitendra Choudhury, captains of Indian trade bodies, including the Federation of Indian Chambers of Commerce and Industry (FICCI).

Choudhury said a new land custom stations would soon open at India-Bangladesh border at Sabroom in southern Tripura and the proposed trade station would be just 75 km away from the Chittagong international port in southeast Bangladesh.

"If the Bangladesh government provides transit facilities via Chittagong, Sherpur, Ashuganj and Mongla ports, it (Bangladesh) would benefit in terms of revenue while northeast India would get a new transportation route to carry goods from rest of the country and abroad," Choudhury said.

He said the matter was in principle agreed during the three-day visit to India by Sheikh Hasina.