'Promote border haats, ICPs to boost bilateral trade'

Think-tank CUTS International has suggested several steps to India and Bangladesh such as promotion of border haats and setting up more integrated check posts at borders to boost bilateral trade.
In its report on 'Assessment of Bangladesh-India Trade Potentiality', the Jaipur-based organisation has also recommended harmonisation of standards, alignment of domestic regulations and putting in place a dedicated cadre for border trade functions.
"There exists a lot of positive will towards a higher economic integration in the region...It is important to harness the same through appropriate policy and practice changes," it said, adding better connectivity and economic integration is needed to boost bilateral trade.

It said border haats play an important role in boosting border area development and also people to people connect.
More integrated check posts (ICPs) at borders would help cut trade time and cost, the report said, adding a strong transport facilities and transit protocols are required to facilitate trade ties.
"Countries need to explore the idea of having single or common ICPs at the border trade points that can be utilised by both countries," it added.
CUTS International, Associate Director Prithviraj Nath said that both the countries needs to work on reduction of non-tariff barriers to promote trade and economic ties.

The bilateral trade between the countries has increased to USD 7.43 billion in 2016-17 from USD 6.76 billion in the previous fiscal.