India promises to cut trade gap: Hasina
Prime Minister Sheikh Hasina yesterday secured a firm assurance from her Indian counterpart Narendra Modi that New Delhi would take concrete actions to address Dhaka's persistent concerns over the huge imbalance in bilateral trade.
Hasina raised the issue during her talks with Modi at the Hyderabad House in New Delhi and later told the media that “Prime Minister Modi was receptive to the issue of growing trade deficit and assured of his government's concrete steps to address this.”
Bangladesh imported goods worth $5.45 billion from India and exported goods worth $689.62 million in fiscal 2015-16, according to data from the Indian High Commission in Dhaka.
In fiscal 2014-15, imports stood at $6.03 billion and exports $527.16 million.
Hasina said she also asked India to review the anti-dumping duties it imposed on jute exports from Bangladesh and resolve the issue. But there was no word on what was Modi's response to this.
The Indian premier said he and Hasina recognised the need to diversify commercial engagement to forge wide-ranging business partnerships between the two economies and for greater regional benefit.
A major part of the effort has to be from the business and industry of the two countries, he said.
“We are happy to receive the high-powered business delegation accompanying Prime Minister Hasina. Our agreement to open new border haats will empower border communities through trade and contribute to their livelihoods,” Modi said.
India yesterday also started
supplying additional 60MW of power to Bangladesh from the Palatana plant in Tripura and sent the first consignment of high speed diesel by a container train from Radhikapur in West Bengal to Birol in Bangladesh.
India supplies 600MW of electricity to Bangladesh and has promised another 500MW.
Modi said India has agreed to fund a pipeline to carry high speed diesel sourced from Numaligarh refinery in north eastern state of Assam to Bangladesh and assured a steady supply of the fuel by train till the pipeline is built.
The Indian prime minister said several agreements for investment in the energy sector in Bangladesh are expected to be signed by the Indian companies in the coming days.
“India will continue to be a willing partner in meeting the energy needs of Bangladesh, and its goal of achieving 'Power for all by 2021”, Modi said.
Hasina said she discussed with Modi the prospects of cross-border electricity import from Nepal and Bhutan.
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