Dhaka, Delhi can turn S Asia into a business hub

India is keen on awarding Bangladesh the status of the “most preferred nation for trade across the border” and will work to ensure capital flows to the country for business, a senior Indian minister said yesterday.
Home Minister Palaniappan Chidambaram said India and Bangladesh can join hands in making this part of the world “a hub of business activities” when bilateral relation between the countries is in the best shape.
He said it is the duty of New Delhi to give access to goods and services from Dhaka since India's economy is many times bigger than the other. "It is India's responsibility to ensure that capital flows from India to Bangladesh to start businesses."
Addressing the Northeastern States Business Summit here yesterday, Chidambaram said Bangladesh is blessed with natural resources, especially natural gas while India with entrepreneurs and capital.
"Joining the hands together, so much business can be created on both sides of the border. I think it is important that the businessmen look upon Bangladesh and India as one market -- a market where goods and services can be produced, traded and exchanged.
"Therefore, we are very keen to gift Bangladesh the most preferred nation status for trade across the border, (so that) trade between the countries takes place almost tariff-free.
“We should reach out to Bangladesh," the minister said.
He also lauded the role of Bangladesh prime minister in developing the bilateral relations. "I want to pay tribute to the vision and statesmanship of Prime Minister Sheikh Hasina. India and Bangladesh are today closer than ever before.
“We are perhaps today as close as the day on which Bangladesh was liberated," Chidambaram said.
India entered into a number of agreements with Bangladesh, especially on territory, enclaves and adverse possession of areas which are now accessible due to the cooperation of the chief ministers of northeastern states, particularly Assam, Tripura, Meghalaya and West Bengal.
"They have made it possible to settle the long-standing disputes. There are still one or two outstanding issues but I am confident that we will settle those too in 2012," he affirmed.