Verma for upgrading cross-border railway infrastructure

Indian High Commissioner Pranay Verma highlighted the importance of upgrading cross-border railway infrastructure to reduce congestion at the Petrapole-Benapole Integrated Check Post. He emphasised that rail-based transportation plays a crucial role in enhancing economic efficiency and returns.

Verma made these remarks during the 2nd Quarterly Luncheon Meeting of 2023 organised by the Metropolitan Chamber of Commerce and Industry in Dhaka on Tuesday.

The high commissioner stressed the significance of improved connectivity and trade infrastructure at the borders to fully capitalize on the potential of the bilateral economic partnership, which has been bolstered by the rapid growth and development of both countries.

As Bangladesh aims to achieve an important economic milestone by becoming a developing country in 2026, he said, negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between India and Bangladesh would establish a new institutional framework to leverage the economic opportunities arising from the transformative economies of both nations.

The MCCI proposed introduction of a dual-currency credit card between the two countries, the free flow of Bangladeshi Taka and Indian Rupee without any cap in case of bilateral trade regardless of Bangladesh’s export performance, and harmonisation of the standards of the Bureau of Indian Standards (BIS) with those of Bangladesh Standards and Testing Institution (BSTI) to promote trade and its ease.