Indian High Commissioner Pranay Verma on Thursday said efforts are underway to increase capability of the Petrapole-Benapole Integrated Check Post (ICP) for facilitating goods and passenger movement while over 70 per cent of land-based bilateral trade is continuing through this gateway.
"The High Commissioner reaffirmed India's commitment to developing partnership and cooperation with Bangladesh to scale up bilateral trade and investment, and promote people-to-people exchanges," read a press release issued by the Indian High Commission in Dhaka.
The envoy underlined the sustained ongoing efforts on both sides to strengthen connectivity and trade infrastructures at the land ports and to gradually decongest and facilitate smoother movement of goods and people across the border, it added.
Verma made the remarks while visiting the Petrapole-Benapole border, one of the crucial land ports for trade between India and Bangladesh.
During his visit, Verma also met with senior officials from both sides and discussed various issues related to border management, trade facilitation and infrastructure development.
Given the importance of Petrapole-Benapole ICP to the movement of passengers, a new Passenger Terminal Building with modern amenities was inaugurated in September 2021 and a second Passenger Terminal Building is also under construction to cater to the growing cross-border movement of passengers.
In addition, a second cargo terminal gate is going to be constructed with grant assistance from the government of India, which is expected to double the cross-border throughput of vehicles per day, according to the release.
Bangladesh is India's largest development partner in the world and the biggest trade partner in South Asia as in the last five years, bilateral trade has grown from $7 billion to around $18 billion.
Bangladesh's exports to India have crossed the $1 billion mark consecutively over the last three years, reaching nearly $2 billion in 2021-22.
India, with its diverse market, has emerged as the top export destination for Bangladesh in Asia.
"Our connectivity and trade infrastructure development projects with Bangladesh are based on our long-standing friendship and our shared conviction that progress and prosperity of our two countries and two peoples are interlinked," said the Indian High Commission.
