Address barriers to boost trade: DCCI to West Bengal

Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman has urged West Bengal to address the prevailing non-tariff barriers, relax the rules of origin and withdraw anti-dumping duty to facilitate more trade and investment between Bangladesh and India.

He made the call when a DCCI delegation met with Dr Partha Chatterjee, the minister-in-charge of industry, commerce and enterprises of West Bengal, at his office in Kolkata on Friday, said a press release issued Saturday.

During the meeting, Rizwan said the lead time of export and import has increased due to lack of adequate infrastructure of the land ports.

Apart from requesting recognition of Bangladesh Standards and Testing Institution (BSTI) certificate for some products, he also suggested that Dhaka and Kolkata can sign a comprehensive economic partnership agreement (CEPA) in order to ensure a win-win situation.

Indian investment in Bangladesh is currently $3.55 billion, according to the press release.

Rizwan also requested Chatterjee to facilitate more investment from the entrepreneurs of West Bengal into the economic zones of Bangladesh.

Mentioning mobility in the infrastructure sector was very important, Chatterjee suggested DCCI and its counterpart in India to initiate a joint study to identify opportunities, challenges and weaknesses in the existing operation of trade and commerce between the two countries.

He also said that Bangladesh is good in finished jute products and he termed textile is a potential area where investors of both countries have good prospects. “We need to utilize the regional corridors for better economic development,” he added.

Later, the DCCI delegation also held a meeting with West Bengal Industrial Development Corporation Chairman Rajiva Sinha at his Kolkata office.

“To boost the bilateral trade to the expected level, we have to improve our transportation system. Besides, private sector should identify the problems of doing business and the government should react on these issues through needed policy support,” the press release quoted Sinha as saying.

“More railway accessibility will play a vital role in goods transportation,” he told the delegation, and also stressed chamber-to-chamber relation for better trade activities.

The DCCI delegation also had an interactive B2B at the Bengal Chamber of Commerce and Industry (BCC&I), where BCC&I President Designate Subir Chakraborty said connectivity has been central to India’s investment in Bangladesh.

India has a focus on building infrastructure connectivity between the north eastern region and Bangladesh, he added.

Later, the DCCI delegation also held separate meetings with Nandini Chakravorty, the principal secretary of West Bengal’s Tourism Department, and the representatives of Kolkata Port Trust. The meetings also underscored the need for smoother connectivity, policy assistance, identifying existing trade barriers and possible way out, and exchange of business delegations.