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India proposes FTA with Bangladesh

Sify Finance (India)

Thursday, 23 June 2005

India proposes FTA with Bangladesh

New Delhi: India has proposed Free Trade Agreement with Bangladesh according transit rights for Indian goods through Bangladesh territory.

Besides, New Delhi has also proposed that Bangladesh exports gas to India to correct its trade imbalance.

These proposals were made to Bangladesh Foreign Secretary Hemayetuddin who called on Commerce and Industry Minister Kamal Nath here yesterday.

Nath said New Delhi is serious in addressing the Bangladeshi concern of trade deficit with India by exploring newer areas of cooperation.

Bangladesh is India’s largest trading partner in the region and the sixth largest destination for Indian exports with bilateral trade of $ 1.5 billion. Major items of exports from India are fabrics, engineering goods, chemicals and pharmaceuticals, transport equipment, cement, fruits and vegetables and coal.

India’s imports include raw jute, glycerin, leather, fabric yarn and Jamdani sarees.

 source: Sify