Wednesday, Apr 24 2024 | Time 04:27 Hrs(IST)
image
Business EconomyPosted at: Sep 26 2018 6:46PM


The two Commerce ministers expressed their intention to inaugurate the first additional Border Haat at the earliest.
Recognising the importance of Petrapole-Benapole land border trading point, the two Ministers agreed to remove impediments affecting smooth clearance of cargo at this location. In this regard, they agreed for a one-time push to remove congestion of cargo trucks, with effect from October 15, 2018, for a period of two months.
Mr Prabhu also reiterated India’s offer to support improvement of infrastructure of Land Customs Stations (LCS) in Bangladesh, adjoining Tripura border.
Mr Ahmed raised the issue relating to recognition by Indian authorities of test certificates issued by the Bangladesh Standard and Testing Institution (BSTI) and Mr Prabhu assured that expeditious resolution would be carried out for acceptance of BSTI test certificates for export of cement and steel products from Bangladesh.
On the request of recognition of BSTI test certificates for six additional food products, Mr Prabhu assured that it would be recognised once BSTI receives the accreditation from NABL or equivalent institution for these products.
Mr Ahmed also raised the issue of acceptance of BSTI certificates for caustic soda. Mr Prabhu mentioned that the issue is being examined for expeditious resolution, including issue of license to Bangladesh exporters, as an interim measure.
Mr Prabhu raised the issue of sudden increase in imports of refined edible palm and soybean oil from Bangladesh and the possibility of routing of third country origin oils into India, through Bangladesh under SAFTA. It was requested that the Certificates of Origin concerned are issued with due diligence and regularly shared with the Indian authorities, if possible through online mode.
Mr Ahmed mentioned that the Certificates of Origin under SAFTA are issued carefully after considering the requisite evidence. He, however, agreed to examine the issue for resolution keeping in view the interest of bonafide exporters.
Mr Prabhu appreciated the recent relaxation in port restrictions allowed by Bangladesh but requested that as per issue taken up by Tripura and other State Governments, more products may be allowed to be exported through the Land Customs Stations on the border.
He highlighted that many international tenders issued by various agencies and Ministries of Government of Bangladesh preclude participation of Indian companies by restricting the country of origin of goods or services to be supplied. He requested that this issue may be addressed expeditiously. Minister Ahmed agreed to have the issue examined by the concerned authorities for early resolution.
Both Ministers expressed appreciation on the recent developments in the field of connectivity between the two countries, including rail connectivity. Noting the need to restore pre-1965 railway connectivity between two countries, Bangladesh side proposed to start a new end-to-end train service between Dhaka and Siliguri with customs and immigration checks at the starting points at both ends. Bangladesh side mentioned the need to establish seamless dual gauge rail connectivity between western and eastern part of Bangladesh for which Indian side offered its support to Bangladesh.
The Ministers expressed concern that the global trade and economic situation is at a critical stage due to the ongoing trade tensions in which developing countries and LDCs suffer consequential collateral damage. Keeping this in view, they reiterated their commitment to the rule-based multilateral trading system that ensures free, fair and open global trade for achieving sustainable economic growth and development.
Recalling the successful WTO Mini Ministerial Meeting held in New Delhi in March 2018, the Ministers called for collective action for revitalising WTO without undermining its core principles of Special and Differential Treatment, Consensus Building, Inclusiveness and Transparency, according to an official statement on Wednesday.
UNI RSA SHK1846
Please log in to get detailed story.
Tags: #....
More News
Sensex ends in green; up 89 83 points

Sensex ends in green; up 89 83 points

23 Apr 2024 | 6:58 PM

Mumbai, April 23 (UNI) The stock market on Tuesday opened strong with 400 points up with all-round shopping but paired early gains towards end of the trading hour and closed at 73,738, about 90 points up from its previous close.

see more..

FHRAI seeks govt intervention to utilize increased FAR scheme for hotel industry expansion

23 Apr 2024 | 6:55 PM

New Delhi, Apr 23 (UNI) The apex association of hotels and restaurants FHRAI has approached the Government for resolution of long pending issue of not able to use the provision of increased Floor Area Ratio (FAR) saying this coming in the way to expanding the capacity and new hotel developments in Delhi.

see more..

23 Apr 2024 | 6:22 PM

New Delhi, Apr 23 (UNI) Telecom major Jio Infocomm, a wholly owned by Reliance Industries Limited, has increased its subscriber tally to 470.86 million at the end of December, 2023, up 8.76 per cent from its subscriber base of 432.92 million a year ago.

see more..

Kottayam-Kochi Rubber Market Rates

23 Apr 2024 | 6:11 PM

Kottayam, April 23 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal.

see more..

Rupee marginally up 3 paise against USD

23 Apr 2024 | 4:37 PM

Mumbai, April 23 (UNI) The Rupee on Tuesday gained three paise to close at 83.34 against the USD on selling US Dollar by bankers and exporters, dealers at the Foreign exchange said.

see more..
image