Seminar Lauds Bangladesh LDC Graduation Eligibility, Discusses New Horizons for Bilateral Economic Engagement with India

20 June 2018

The Federation of Indian Chambers of Commerce and Industry (FICCI) and the Bangladesh High Commission in New Delhi jointly organized the seminar "Bangladesh's Graduation from LDC: New Frontiers and Horizons for India-Bangladesh Economic Engagement."

Bangladesh has met the eligibility criteria for graduation from “Least Developed Country,” and aims to become a middle-income country by 2021. Mr. Manish Singhal, Deputy Secretary General, FICCI noted that classification of Bangladesh as a developing country would leapfrog the existing bilateral engagement between India and Bangladesh.

Mr. Syed Muazzem Ali, High Commissioner of Bangladesh to India, highlighted how Bangladesh-India bilateral ties could act as a catalyst for strengthening regional and subregional cooperation and integration in the region. Both countries are involved in the subregional grouping Bangladesh-Bhutan-India-Nepal (BBIN) initiative, as well as in inter-regional cooperation through the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) and the Association of Southeast Asian Nations (ASEAN). Bangladesh and India are also working to facilitate greater trade, developing new land ports and better infrastructure, and cooperating to dismantle non-tariff and para-tariff barriers.

Dr. Ram Upendra Das, Head and Professor, Center for Regional Trade, Department of Commerce, Government of India, urged both Governments to fast-track South Asian economic integration by adopting an integrated approach to trade in goods, services, and investments, to benefit from their synergies.

Dr. Pritam Banerjee, Senior Director, South Asia Corporate Public Policy, DHL Group reminded the group that the challenges faced by the eastern part of India are not much different from those in Bangladesh. It is in the interest of both nations to work on improving connectivity.

 

 

Related Links:

Construction and rail procurement for the Jayanagar (India)-Janakpur (Nepal) rail service...

Read More


The Cabinet Committee on Economic Affairs of the Government of India, ...

Read More


Cargo containers using the Electronic Cargo Tracking System (ECTS) bound for Nepal...

Read More


The mini-dry port in Phuentsholing, Bhutan, built with loan/grant financing support...

Read More


Mr. Md. Mofizul Islam, Secretary, Ministry of Commerce of the Government of...

Read More


Mr. Abdul Momen, Foreign Affairs Minister of the Government of Bangladesh, undertook a...

Read More


President Ibrahim Mohamed Solih, Maldives, said Sri Lanka’s similarities with Maldives make it easier for the two countries...

Read More