FIEO seeks easier Bangladesh border trade rules

In a bid to sort out issues like smooth flow of exports from India to Bangladesh and the areas to be considered in order to achieve a successful free trade agreement, the Federation of Indian Export Organisation (Fieo) is taking its first ever multi-product business delegation to Bangladesh that is set to coincide with the 5th SAARC Fair in Dhaka to be on till December 31, 2003.

"Issues like restriction imposed by the Bangladesh Government on various items traded through the land customs stations such as yarn, spices, sugar, and paperboard need to be addressed. The delegation is likely to discuss these issues with senior government officials of the National Board of Revenue, in Bangladesh," explained Prakash Thaker, chairman of the eastern chapter of Fieo.

The visit at Dhaka will be followed by a buyer-seller meet which is being organised in collaboration with five leading chambers of Bangladesh "" Federation of Bangladesh Chamber of Commerce & Industry, Dhaka Chamber of Commerce & Industry, Metropolitan Chamber of Commerce & Industry, Chittagong Chamber of Commerce & Industry and Sylhet Chamber of Commerce & Industry.

S B Mookherjee, the central minister of state for commerce & industry, will also join the delegation to Dhaka.

"It was felt that organising a buyer-seller meet and meeting with leading chambers of commerce in Bangladesh as also its top officials would go a long way in enhancing mutual trade relations between both the countries. Bangladesh is one of the top ten trading partners of India and Indian exports to Bangladesh last year reached $1.23 billion, which is set to rise," Thaker explained.

The terms of trade is however largely in favour of India. Exports to Bangladesh was around Rs 5297.18 crore, while imports into India was only at Rs 263 crore.

Major items exported to Bangladesh include tea, cereals, wheat, sugar, spice, tobacco, fresh vegetables, fresh fruits, oil meals, plastic etc.