Bangladesh will prepare a priority list for possible cooperation in its industrial sector, while India has offered to help develop the country’s ICT sector.
Bilateral trade and investment issuescame up during a meeting between Industries Minister Amir Hossain Amu and Indian High Commissioner Pankaj Saran at the secretariat yesterday.
“Bangladesh will very soon prepare a priority list of potential fields for bilateral industrial cooperation,” the minister told the Indian envoy.
Amu urged the Indian authorities to take steps to remove existing non-tariff barriers for Bangladeshi products in their market to help reduce a huge trade gap between the neighbours.
Bangladesh’s imports from India were worth US$4.74bn last year, while its exports amounted to only $563.96m, leaving a trade gap of $4.17bnin India’s favour, according to local trade bodies.
The minister also sought Indian cooperation to take small and medium industries (SME) to a new height.
“India is ready to extend continuous support to develop information communication technology (ICT) and any other industrial sector in Bangladesh,” Saran said.
Urging Dhaka to facilitate Indian investments, Saran said reputed Indian entrepreneurs were keen to invest in Bangladesh. Lauding the development of Bangladesh’s pharmaceuticals and SME sectors, he said the country should prioritise the manufacturing sector to reduce dependency on foreign imports.
