Improved connectivity to boost bilateral trade between India and Bangladesh

The bilateral trade between the India and Bangladesh can utilise their connectivity to boost trade. There is immense scope for increasing Food & Beverages (F&B) exports from India to Bangladesh, says an senior official. Bangladesh is sending a strong buyer delegation to India during the upcoming Indus Food-II to be held in January 2019, in Greater Noida, organised jointly with Department of Commerce, Ministry of Commerce and Industry. The bilateral trade between the two countries is set to  touch $9 billion, out of which Bangladesh exports goods are worth $900 million. “India being an immediate neighbour with whom Bangladesh not only shares a long border but also culture, traditions and language will be looking towards India to import the items it needs,” says Jahangir Bin Alam, CEO  India-Bangladesh Chamber of Commerce & Industry (IBCCI).  Presently, Bangladesh’s total import of F&B from the world is $5016.4 million, out of which India is 5th in ranking with exports worth $332.4 million. Bangladesh currently sources 17.2 % of its F&B requirements from Brazil, followed by Indonesia (12.1%), Canada (9.7%), Argentina (9.1%) and India (6.6%). Improved connectivity between the two countries will help a lot in developing trade further.

Source: PIB