Economic zone in Jamalpur to boost trade with India

The government plans to set up an economic zone in Jamalpur aiming to export light-engineering and garment products to northeastern India.

The Executive Committee of the National Economic Council (Ecnec) yesterday passed the Tk 302-crore project that is expected to be complete by 2017.

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Around 488 acres will be acquired for the economic zone and necessary infrastructure will be developed to attract investment from Indian and Bangladeshi companies, according to the planning ministry's proposal.

Bangladesh shares a 1,880km border with four Indian states: Tripura, Meghalaya, Mizoram and Assam.

There is a 443km border with Meghalaya itself, which is the closest state to Jamalpur.

The project will open scope for trade and commerce with the northeastern Indian states, according to the proposal.

Bangladesh will become an industrial hub for the Indian states to manufacture and ship light-engineering goods, garment, consumer goods and food items.

A total of seven projects were approved at yesterday's Ecnec meeting, three of which were revised projects.

The Ecnec also approved the National Agricultural Technology Programme-2nd Phase with an estimated outlay of Tk 1,878 crore, which aims to improve the overall socioeconomic condition of farmers.

Of the total project cost, Tk 1,607 crore will be financed by the World Bank, IFAD and USAID.

Bangladesh Agricultural Research Council (BARC), the Department of Agricultural Extension, the Department of Fisheries and the Department of Livestock Services will jointly implement the project in 270 upazilas of 57 districts by 2021, Planning Minister AHM Mustafa Kamal said. The research activities under the project will be implemented through the participation of enlisted research organisations, universities and private organisations under the National Agricultural Research System through BARC. Kamal said this project will benefit over 28.4 lakh farm households.

Paddy production in the country is expected to rise by 10 percent and wheat production by 14 percent along with a rise in the production of fisheries and livestock.

The Ecnec also approved a Tk 800 crore project: the installation of 70,000 distribution transformers for rural electrification.

The other approved projects are: increased supply of quality seeds project with Tk 345 crore, establishment of laboratory for controlling the food standards of livestock production and ingredients and livestock foods with Tk 66 crore, installation of single-point mooring project with Tk 89 crore, construction of chancery complex in Riyadh, Saudi Arabia with Tk 47 crore and widening and development of Gaibandha-Phulchhari-Bharatkhali-Saghata road with Tk 56 crore.