CEPA to be a game-changer for Bangladesh-India trade: Doraiswami

The Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and India will be a game-changer for bilateral trade partnership, said Vikram Kumar Doraiswami, Indian high commissioner to Bangladesh.

CEPA is under active discussion of both the governments, he said while addressing a virtual event on Wednesday, UNB reports.

He said India's vast consumer market offers enormous opportunities for the quality food products from Bangladesh and underscored the importance of linkages among trade bodies.

The high commissioner also emphasised the importance of finalising reciprocal arrangements with regard to food safety standards and rapid upgradation of logistics to enhance such trade.

Focusing on Bangladesh-India trade agricultural and processed food products, Agricultural and Processed Food Products Export Development Authority (APEDA) in association with Bangladesh Fresh Fruits Importers Association (BFFIA) and India Bangladesh Chamber of Commerce and Industry (IBCCI) organised the virtual conference.

The meeting brought together key stakeholders from respective trade bodies and governments on a common platform.

Md Alamgir, chairman, Bangladesh Land Port Authority, highlighted that the Bangladesh government is in the process of upgrading land ports at Benapole, Sutarkandi, Belonia and Ramgarh. He said Tk 1.5 billion will be spent on this purpose.

Abdul Matlub Ahmad, president of IBCCI, said several World Bank reports suggest that seamless transport connectivity between Bangladesh and India has the potential to significantly increase national incomes on both sides.

He urged the multilateral donors and private sector to invest in the development of ICDs, cold storages and warehousing facilities at the land customs stations.

The virtual conference was joined by APEDA chairman M Angamuthu, BFFIA president Salimul Haque Essa, Halal Meat Importers Association of Bangladesh president Shamim Ahamed, Indian High Commission in Dhaka’s commercial representative Pramyesh Basall, and APEDA director Tarun Bajaj, among others.

During the conference, an e-catalogue for the virtual buyer seller meet was released followed by Virtual Trade Fair B2B meeting.

Over 200 businesses from both the countries took part in the event.