Information Communication Technology (ICT) sector to help reduce the
existing bilateral trade gap.
"The huge trade gap between the two countries could be reduced
through increased investment in Bangladesh", while the joint ventures
in the ICT could help play a significant role, India's Minister of
State for Commerce Jairam Ramesh told reporters here.
He said investment should be a "two-way thing, unlike trade" and
added that Bangladeshi entrepreneurs also could get prospective
grounds in sectors like pharmaceuticals and textiles as they have
gained expertise in these sectors.
Referring to the long-standing "transit or trans-shipment" proposal
of India, he said Bangladesh could earn USD 1.2 billion by allowing
only two corridors, Kolkata-Guwahati and Kolkata-Agartala.
"Its the easiest way to reduce the bilateral trade gap, while the
current Indian export to Bangladesh is USD 3.3 billion against the
Bangladesh's export volume worth USD 350 million."
Earlier in the day, Ramesh held talks with education and commerce
adviser of the interim Bangladesh Cabinet Hossain Zillur Rahman
proposing the Indian investments in the ICT sector particularly for
developing software targeting the Middle Eastern countries.
The Minister said several "unilateral" steps by India in the past one
year has boosted the economic ties between the two neighbours and
added that New Delhi was also ready to export power on "commercial
basis" from a proposed hydro power plant in Tripura for the increased
economic co-operation.
"We have bilateral cooperation in electricity sector with most of the
South Asian countries...we want to export the power (to Bangladesh)
at a rate which all the Indian states are paying," Ramesh said, who
earlier today also met chief advisers special assistant for Energy
Ministry M Tamim.
Commerce Adviser Rahman earlier today told newsmen that he held talks
with the Indian minister on some "specific proposals" while the
discussions on the joint investment on ICT should be carried forward
and a joint working group could review potential on partnership in
electricity generation.
"India has planned to generate 10,000 MW power in next 10 years in
its northeastern region and we can offer Bangladesh at least 1,000
MW," Ramesh said.
Asked about the prospects of a trilateral arrangement on exploring
huge hydro power in Nepal, Ramesh said the "block building" could be
done at this stage only through bilateral arrangements.
He said Bangladesh-India economic relations witnessed significant
development particularly in the past one year with the latest one
being the New Delhi decision in April to allow duty free access of
eight million garments to Indian market.
Three million pieces were imported while the rests were expected to
enter into Indian market in the next one year, he said.
Bangladesh identified 50 non-tariff barriers for its products in
India, while Ramesh said most of those were related to "testing and
standards" adding that New Delhi proposed installation of two
laboratories for easing the process.
He said India has appointed a reputed international firm to examine
the exportable garments to India while the arrangements were made
earlier for pre-shipment inspection of cement from Bangladesh.
Source:
http://www.zeenews.com/articles.asp?aid=480306&sid=BUS&ssid=50
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