Commerce Minister to lead 22-member business delegation to New Delhi on Oct 20; Agreement on border `hat’ likely to be signed on Oct 21

By AKM Moinuddin

Dhaka, Oct 8 (UNB) – Amid recent diplomatic breakthrough on trade issues with India, a Bangladesh business delegation led by Commerce Minister Faruk Khan will leave here New Delhi on October 20 on a four-day visit aiming at closer, mutually beneficial economic ties.
Discussions during the visit are likely to dominate a number of issues including formal inauguration of border `hat’ (market), removal of tariff and non-tariff barriers, duty-free access to Indian market, further reduction of the number of items from India’s negative list, Free Trade Agreement (FTA) and investment, officials said.
Meanwhile, a number of deals relating to investment, border `hat’ and removal of trade barriers are likely to be inked during the visit.
Leaders of the FBCCI, BGMEA, DCCI, BKMEA, MCCI, CCCI, IBCCI and other business bodies are included in the 22-member delegation who will visit New Delhi.
Talking to UNB over phone, Commerce Minister Faruk Khan said the agenda of the discussion is yet to be finalized.
“There are four to five major agenda…Right now I can’t tell you specifically but a final agreement regarding border `hat’ will be signed during the visit,” he said.
Faruk Khan said he would return home by road via Guwahati to see the exact condition of the road communication.
Replying to a question, he said he will brief the media with the entire delegation before leaving for New Delhi, most likely between October 10 and 12.
India Bangladesh Chamber of Commerce and Industry (IBCCI) president Abdul Matlub Ahmed said Bangladesh would emphasize on further reducing the negative list for access to Indian market, existing problems relating to sale of jute bag with `Made in Bangladesh’ seal and how the Indian investment in Bangladesh can be boosted.
He hinted that the final agreement on border `hat’, which will be a common marketplace for both Bangladeshis and Indians to boost local business and trade between the two close neighbors, would be signed on October 21.
The two countries had agreed to set up border `hat’ along their international border in the northeast when Prime Minister Sheikh Hasina visited India in January this year.
Border `hat’ was earlier scheduled to be launched on April 14 or Pahela Baishakh, the first day of the Bangla New Year.
Dhaka finally agreed to sign the proposed agreement on border `hat’ after New Delhi had assured of non-imposition of any local tax on Bangladeshi products.
According to the final draft of the agreement, an individual will not be able to trade above US$50 at the border `hat’ and the trading should be conducted in the currencies of both Bangladesh and India.
The negotiated draft agreement said a committee comprising government officials and officers of border security forces of the two nations will manage the markets and will sit periodically to review its operations.
Two border `hat’ will be opened in the first phase - one in Sunamganj district and another in Kurigram district - along the international border.
The commodities to be traded in these 'hat' will include locally produced agriculture and horticulture products, spices, minor forest products excluding timber, fresh and dry fish, dairy and poultry products, wooden furniture and cane products, handloom and handicraft items.
The hat will operate from a place within 1.5 km radius on both sides of the border under close supervision of the border guards and customs officials of the two countries.
END/UNB/