India and Bangladesh are working on dismantling the non-tariff and para-tariff barriers, Bangladesh High Commissioner to India Syed Muazzem Ali said today.
He was speaking at a seminar organised by industry body Ficci and the Bangladesh High Commission here.
Bangladesh has recently graduated from "Least Development Category" of the United Nations Committee for Development Policy.
The High Commissioner said that India and Bangladesh could renew economic engagements in the light of Bangladesh's graduation from LDC and India's emergence as a global power with strong economic growth.
"We seek substantial investment from Indian investors in three special economic zones of Mongla, Bheramara and Mirsarai in Bangladesh to broaden our exportable base, he said. "We could engage in a series of 'buy-back' projects similar to those between USA and Canada," the Ficci statemane quoted him as saying.
He said that Bangladesh-India bilateral ties could also act as a catalyst for strengthening regional and sub-regional cooperation and integration, adding "both the countries are working on strengthening the sub-regional cooperation under the BBIN initiative as well as inter-regional cooperation under the aegis of BIMSTEC and ASEAN."
Besides, Abul Kalam Azad, Principal Coordinator (SDG Affairs), Prime Minister's Office, Bangladesh in his presentation said that the way forward for Bangladesh following its graduation from LDC would be to increase investment in human development, overcome infrastructure gap, invest in quality education and research, adopt innovation and digitalization, enhance north-south, south-south, triangular cooperation and diversify export.
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