Bangladesh ports open to India to revive US$20 billion trade

THE Dhaka-Chittagong highway will be open to Indian trade providing access to Chittagong and Mongla ports and restoring long lost revive connectivity with all south-east Asia, said Bangladesh foreign minister Dipu Moni.

This follows an agreement between India and Bangladesh, opening 260 kilometres earlier this year which included a US$1 billion pledge to invest in Bangladesh infrastructure benefiting most significantly India but also Nepal, Bhutan and other south Asian countries, said Ms Moni.

"The southeast Asian region is the most poorly coordinated region in the world. Our mutual cooperation and coordination must be improved to a large extent to remove the common enemy - poverty," she said.

Indo-Asian News Service also reported that the administrative area of Tripura will open access on its short 11-kilometre road linking Dhaka and Chittagong and supply electricity through its two thermal power projects to the country, subject to central approval. It will also relax norms to allow Bangladeshi businesses to be set up and open up trade deficit between the two countries estimated at $20 billion potential.

Further investments announced by the India-Bangladesh Chamber of Commerce and Industry include the building of an IT park in Ariapark, near Dhaka by an Indian company and the Indian industrial group Tatas will manufacture vehicles in Bangladesh to be exported globally, said chamber president Abdul Matlub Ahmad.

An additional investment of INR12.5 (US$2.8 million) for land customs stations (LCS) along the border will further support trade growth.
(Source:www.schednet.com)