Bangladesh and India have underscored the need for greater trade and investment cooperation by removing commercial barriers, easing visa procedures, and promoting joint initiatives in infrastructure and emerging technologies. Commerce Minister Khandakar Abdul Muktadir made these remarks during a meeting with a delegation of the Confederation of Indian Industry (CII), led by its Director General Chandrajit Banerjee, at the Secretariat in Dhaka.
The meeting focused on bilateral trade and investment relations, existing challenges, and potential areas for future cooperation. Muktadir highlighted the significant opportunities offered by the geographical proximity of the two countries, which could be transformed into economic benefits through increased trade, investment, and industrial cooperation.
Despite differences in size, population, and economic strength, Muktadir emphasized that both countries could benefit from their geographical realities, particularly by expanding trade, connectivity, and investment involving Bangladesh and India's northeastern region. He also stressed the importance of increasing economic connectivity in South Asia, noting that stronger economic integration could create new opportunities for industrialization, investment, and employment.
Regarding recent trade restrictions between Bangladesh and India, Muktadir called for discussions to restore bilateral trade to a normal footing, expressing hope for positive progress within the next few months. Visa-related difficulties faced by businesspeople and professionals were also discussed, with Muktadir advocating for longer-term visa arrangements for regular travelers.
The CII delegation proposed forming two joint task forces to enhance cooperation in infrastructure and high-technology sectors. One task force would focus on promoting private investment and public-private partnerships (PPPs) in infrastructure, while the other would work on future-oriented industries such as semiconductors, green hydrogen, battery storage, and data centers. The CII noted that around Rs 25 lakh crore was invested in India's infrastructure sector last year, with a significant portion coming from the private sector.
The meeting also highlighted the importance of utilizing the capacity of local manufacturing industries. Indian business representatives said many local enterprises have the capability to manufacture products domestically but have weakened due to various challenges. Strengthening local production could reduce import dependence and accelerate project implementation. The CII expressed interest in investing in the fast-moving consumer goods (FMCG) sector and proposed establishing a modern integrated manufacturing facility near Dhaka.
