India's import-export business with Bangladesh paving way for stronger economic ties

Singapore Star (ANI) Saturday 4th February, 2012

India's import and export business with Bangladesh is flourishing due to the favourable and strategic geographical location of both the countries, strengthening the process, economic ties between the two countries.

Traders in West Bengal's Siliguri District have favoured Bangladesh, as there are several transit routes for exchange of goods.

"When I started my business, at that time, I was exporting fruits, food grains, rice, but since the last 15 years, I have been importing cotton items to Bangladesh. The geographical location has proved to be advantageous. If I want to order any product from Bangladesh, then I can get it within one or two days and on the other hand, if they order for anything from India, we can easily send the product within a day or two," said a trader.

Businessmen have been constantly pouring in at the district from Bangladesh to bolster economic ties and keep the bonhomie spirit alive.

India, primarily exports fruits, food grains, fish and perishable items, while the imports include cotton products and glass items.

According to the experts, Bangladesh is the preferred destination for trade, as they do not compromise on quality and sell their products at a reasonable price.

Indian traders, initially, were hesitant to establish friendly relations with their Bangaladeshi counterpart, but things have changed now.

"I have been doing import and export business with Bangladesh for the last ten years. I was born in Bangladesh, but live in India; I do not feel that I am doing trade with a foreign country. The quality of the Bangladeshi products is good as well as cheap. I think the relations between the two countries are touching greater heights. I think both the governments should take the necessary steps to smoothen any kind of obstacles in the business," said another editor.

A bilateral trade agreement does exist between the two countries, which was signed in 1980 and later amended and signed in March 2006 and it was implemented on April 1, 2006.

The agreement provides an opportunity for expansion of trade and economic cooperation. (ANI)