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Business Economy

Improved connectivity to boost bilateral trade b/w India & Bangladesh

New Delhi, Oct 11 (UNI) Bangladesh is sending a strong buyer delegation to India during the upcoming Indus Food-II to be held in January 2019 in Greater Noida, announced Jahangir Bin Alam, Secretary & CEO of Dhaka-based India-Bangladesh Chamber of Commerce & Industry (IBCCI).
Mr Alam visited Trade Promotion Council of India (TPCI) office here on Wednesday for talks.
Indus Food-II is being organised jointly by Department of Commerce, Ministry of Commerce and Industry.

The bilateral trade between the two countries touches $9 billion out of which Bangladesh exports goods worth $900 million.
The IBCCI CEO said that trade growth depends on the developmental progress of Bangladesh, adding that Bangladesh is growing and hence trade is increasing with India and the rest of the world.
India being an immediate neighbour with whom Bangladesh not only shares a long border but also culture, traditions and language will be looking towards India to import the items it needs.
There is immense scope for increasing Food & Beverages (F&B) exports from India to Bangladesh.
Presently, Bangladesh’s total import of F&B from the world is USD 5016.4 million, out of which India is fifth in ranking with exports worth USD 332.4 million.
Bangladesh currently sources 17.2 per cent of its F&B requirements from Brazil, followed by Indonesia (12.1 per cent), Canada (9.7 per cent), Argentina (9.1 per cent) and India (6.6 per cent).
Fresh fruits going from India to Bangladesh include mangoes, grapes, pomegranates and apples.
Among other F&B products, there is still great scope for added export of dried, shelled chickpeas, fresh or chilled onions and shallots, food preparations, cumin seeds, fresh grapes, semi-milled or wholly milled rice, black fermented tea and partly fermented tea, turmeric and cane sugar.
Improved connectivity between the two countries will help a lot in developing trade further. Till only a sometime back, maximum trade between India and Bangladesh was routed through ports in Singapore.
The traditional river waterways that connected various cities in Bangladesh to India were operational till 1965. The recent thrust to rebuild those waterways and develop new routes to ease connectivity will not only be in the interest of bilateral trade between India and Bangladesh, but will also help Indian mainland to connect better with its own North Eastern States.
Indusfood is being billed as the World Food Supermarket – a one-stop event to source all requirements related to food and beverage from India, according to Commerce and Industry ministry statement here on Thursday.
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