Bangladesh's foreign minister, Dipu Moni, Wednesday called for increased duty-free access for Bangladeshi products in the Indian market, to offset the huge trade imbalance between the two South Asian neighbours. "As one of the world's fastest growing economies, India has the capacity to import more Bangladeshi products to ease the balance of trade situation between the countries."
The newly appointed foreign minister said when the Indian envoy to Bangladesh called on her in Dhaka. The envoy, Pinak Ranjan Charavarty, handed over a message of greeting from the Indian external affairs minister, Pranab Mukherjee, who is scheduled to be in Dhaka on February 8.
During Pranab's visit Bangladesh and India are expected to sign two agreements - on bilateral trade, and on investment promotion and protection. A 3-year bilateral trade agreement between the two countries would expires in March 2009 and it would be renewed through a fresh deal while the investment promotion and protection agreement is required for smoothen investment flows from both the sides.
Responding to Bangladesh's request for allowing duty free access for more of its products, the Indian high commissioner to Bangladesh said some trade facilitation measures have to be taken by both the sides to increase bilateral trade. Bangladesh and India have a volume of trade worth about 2 billion dollars per year, although Bangladesh's export share to India is as little as 200 million dollars.
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