A shake of hands

Bangladesh and India have had a historically mutually beneficial partnership ever since our nation’s independence

Healthy bilateral trade is a cornerstone of any growing economy; bilateral trade with neighbouring countries in particular. To that end, it is certainly great news that both Bangladesh and India are working on the framework of a new trade deal.

Dubbed the Comprehensive Economic Partnership Agreement, the objective of which would be to further enhance trade between our two nations and go beyond the permutations already etched out in South Asia Free Trade Agreement. The current volume of bilateral trade between Bangladesh and India stands at $10 billion. Thus, a new deal will not only give the government to further bolster this figure, but to build better relations between the two countries as well.

Bangladesh and India have had a historically mutually beneficial partnership ever since our nation’s independence. Being that India is our direct neighbour, trade with them is also beneficial in the sense that a lot of the unnecessary costs in the supply chain can be bypassed given our geographical proximity, not to mention the commonality that we share in terms of culture which influences our trade directly.

Strengthening our bilateral trade not only means that we can create a stronger market for our products, but it also means that, implicitly, we also end up sharing a lot of the innovations that both our markets bring to the table.

In that sense, the promise of this new framework that seeks to fill the gaps in our existing framework is definitely heartening. Both India and Bangladesh are situated in a strategically important location, and both of us are stronger together than as individuals.

In general, our nation’s current spate of bilateral engagement with a multitude of other nations is a step in the right direction for us to establish our presence in the international community; and what is the international community if not individual nations in unison?

 

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