Bangladesh and India agree to work toward enhancing bilateral trade ties

Bangladesh and India have agreed to work toward expanding bilateral trade, Commerce Minister Khandakar Abdul Muktadir said on Monday.

“Trade between the two countries has encountered various obstacles due to certain decisions taken by both sides. We have drawn each other’s attention to reviewing measures such as the closure of several Indian land ports, border haats and the suspension of trans-shipment facilities,” he said. The minister made the remarks while speaking to reporters after a meeting with Indian High Commissioner Pranay Verma at his office in the Bangladesh Secretariat.

He said the high commissioner paid a courtesy call to congratulate the new government, but discussions also focused on different ways to boost trade between the two countries.

The talks included reopening some of the closed land ports, he added.

Muktadir said Bangladesh raised concerns over existing restrictions on the export of certain products, while the Indian side referred to the possibility of restarting the closed border haats.

“There are indeed some reciprocal barriers created by both countries, and it is true that these have affected trade relations,” he said, adding that the high commissioner would take up the matters at higher levels in India, while Bangladesh would also raise them at the cabinet level.

Responding to a question, the minister said there was no discussion about the future of Indian-funded projects.

When asked about the potential impact of a closure of the Strait of Hormuz due to the Iran war, he said shipping costs would increase in such a scenario.

“There is no immediate cause for concern, as the situation may be resolved within a few days. If it is prolonged, the government will adopt alternative measures. At present, there is no shortage of goods in the country,” he said.