Proposed CEPA deal to remove trade barriers: Stakeholders

Stakeholders from diverse sectors have called upon the Ministry of Commerce to include a joint testing laboratory and a one-stop service for the investors in the proposed Comprehensive Economic Partnership Agreement between Bangladesh and India.

They made the plea at the stakeholders’ consultation meeting on the trade in goods section of the joint feasibility study on CEPA between Bangladesh and India held on Sunday.

The Bangladesh Foreign Trade Institute organised the 3rd stakeholder consultation meeting through a physical and zoom platform on Sunday. The meeting was solely focused on the trade in goods of the joint study.

Attending the consultation meeting, both the public and private sector stakeholders were optimistic that the proposed CEPA agreement will result in removing the trade barriers and enhance a higher volume of trade between the two neighbouring

countries.

Lead consultant of CEPA joint feasibility study Dr Selim Raihan made his special remarks on the joint study at the beginning of the meeting while sectoral consultant of the study Mahtab Uddin presented a key-note paper during the meeting.

High officials from both public sector and private sector, business leaders, and academicians attended the consultation meeting.

Speaking as chief guest, commerce secretary Tapan Kanti Ghosh said, “Bangladesh’s export growth performance in the Indian market has more potential.”

“The country’s trade has been making a momentous contribution to the economic development of Bangladesh in terms of foreign exchange earnings, improving the balance of payments and faster creation of employment,” he added.

Chief executive officer of BFTI Dr Md Jafar Uddin, who presided over the meeting, underscored that an effective CEPA between the two countries would not only benefit both the two countries in terms of enhanced employment generation and export earnings but also would help Bangladesh identify its untapped potential for export to India.

The Centre for Regional Trade under the Indian Institute of Foreign Trade has been nominated to conduct the joint study from the government of India.

Moderated by BFTI director Md Obaidul Azam, the 3rd consultation meeting was attended, among others, by AHM Ahasan, vice-chairman of Export Promotion Bureau, Md. Hafizur Rahman, additional secretary of Ministry of Commerce, Md. Hafizur Rahman, director general of WTO Cell, Dr Md. Khairuzzaman Mozumder, additional secretary of the Finance Division, Noor Md. Mahbubul Haq, joint secretary, Shah Md. Abu Raihan Alberuni, a member of Bangladesh Trade and Tariff Commission, Mohammad Jahangeer Kobir, joint secretary and a member of Bangladesh Land Port Authority and representatives from various associations and chambers.