Bangladesh got duty-free access of 46 textile items to Indian market, ushering in a new horizon in Dhaka-Delhi trade.
"India finalised duty-free 46 textile items' access to its market. Bangladesh will benefit enormously as it will help narrow down trade gap between the two countries," Commerce Minister Lt Col (retd) Faruk Khan told BSS.
The decision came from an official meeting between Bangladesh Cabinet members and four chief ministers of Indian states at Sonargaon Hotel Tuesday.
Currently, 480 items are on India's negative list. Last year, Dhaka demanded the removal of 61 products, mostly textile items (46), from the list.
According to Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), India has 3.0 billion US dollars apparel market size in which Bangladesh can easily capture a large portion because of its cheap labour cost benefit.
Indian trade with Bangladesh will also be increased as Bangladesh imports huge amount of raw materials from India for value-addition, according to the country's apex trade body.
India is Bangladesh's single largest trading partner. Bangladesh's imports from India in 2009-10 were 3213.70 million US dollars against its exports of just $304.63m.
Showing posts with label Bangladesh news. Show all posts
Showing posts with label Bangladesh news. Show all posts
Duty free access to Bangladesh Textiles
Written By Views maker on September 07, 2011 | 9/07/2011
9/07/2011 | 2
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Gas crisis for Bangladesh jute industry
Written By Views maker on June 03, 2011 | 6/03/2011
The Bangladesh Jute industry has been facing a an acute shortage of gas, which has affected their normal functioning. There has been an heavy investment in jute industry as in the textile industry in Bangladesh. Jute industry is considered to a high growth sector along with textiles. The gas shortage problem is now taken up serious by the government of Bangladesh and soon they expect some sort relief for the gas shortage problem
6/03/2011 | 0
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