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Business Economy


Prabhu on three-day visit to Bangladesh for bilateral talks

New Delhi, Sep 25 (UNI) Union Commerce and Industry Minister Suresh Prabhu began a three-day visit to Bangladesh from September 24 during which which he will hold discussions on Bangladesh - India trade relations with his Bangladesh counterpart Tofail Ahmed.
Mr Prabhu will also meet business leaders in Dhaka. Bilateral trade between India and Bangladesh has grown steadily over the last decade. In the five years for the period between FY 2012-13 and FY 2016-17, total trade between the two countries has grown at a compounded annual growth rate of 11.45 per cent.
Bilateral trade stood at USD 7.52 billion in 2016-17. India’s exports to Bangladesh for the financial year 2016-17 stood at USD 6.82 billion and imports from Bangladesh during FY 2016-17 stood at USD 0.7 billion.
For 2017-18 (April-December), India's exports to Bangladesh was USD 5862.73 million and import figures stood at USD 463.34 million.

Earlier on Tuesday, the Minister visited the Liberation War Museum in Banglabazar, Bhola, which commemorates the Bangladesh Liberation War that led to the independence of Bangladesh.
He also visited an old age home in Bhola. The Minister was given a civic reception in the Fatema Khatun Degree College in Bhola. Addressing at the occasion, the Minister spoke about the close ties between India and Bangladesh and the commonalities in culture and also on the growing opportunities in bilateral trade and investments.
Mr Prabhu said that India and Bangladesh have recently partnered in the construction of cross-border oil pipe line and new rail projects.
''Received a warm welcome from the people of Bangladesh and addressed the civic reception organised by the Bhola Chamber of Commerce and Industry,'' Mr Prabhu wrote in a tweet on Monday after he arrived in Dhaka.
''Spoke on our commonalities in culture & thought processes and also on the growing opportunities in bilateral trade and investment,'' he said.
''Bangladesh is an important partner for India. Hon'ble PM @narendramodi ji and H.E. PM Sheikh Hasina have constantly led the efforts towards strengthening India Bangladesh ties,'' he said in another tweet, adding that '' We have just recently partnered in the construction of cross-border oil pipeline and new rail projects.''
India and Bangladesh relations are deeply anchored in history, culture, language, shared values and countless other commonalities between our two countries, Mr Prabhu said.
''This relationship has been further strengthened in the recent past through cooperation in new and high-technology areas,'' he stated.

During his stay in the Bangladesh capital, Mr Prabhu will also meet the Bangladesh Minister for Civil Aviation and Tourism AKM Shahjahan Kamal and Bangladesh Minister of Road Transport and Bridges, Obaidul Quader.
The Commerce Minister will also call on Bangladesh President Abdul Hamid.
UNI RSA SHK1920
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