India allows its companies to export from Bangladesh via North East

DHAKA: India has sought Bangladesh's permission to allow exports by Indian companies operating in its country through the North-Eastern region besides earmarking land for setting up India-specific Special Economic Zones (SEZs) there.

North-East Region may serve as a gate-way for exporting goods from Bangladesh, especially, to Indian market and can help in giving a push to trade and investment between the two neighbouring nations, an official said.

"The trade volume between the two countries was far below the potential. Thus, we have urged the Bangladesh government to allow use of its territory by Indian companies which are operating in Bangladesh to export their goods via North-East region," Commerce Secretary S R Rao said yesterday.

He also said the multi-modal transport, especially waterways and railways could play a crucial role in giving a fillip to the trade volumes between the two countries.

This would also encourage Indian investments in Bangladesh which in turn will create jobs and give a boost to their economy, he told reporters here.

Rao, who led a Ficci business delegation to Dhaka during the 'India Show', took up these issues during meetings with Bangladesh Foreign Minister Dipu Moni, Finance Minister Abul Maal Abdul Muhith and Commerce Minister Ghulam Muhammed Quader.

"India Show", wherein 100 Indian companies like Tata Motors, Ashok Leyland and BHEL showcased their products, was organised by Ficci in association with Commerce and Industry Ministry.

Appreciating India's proposals, Bangladesh Foreign Minister said that her government is following a liberal policy on foreign investment and would welcome Indian investors in the country.