'CEPA can boost Bangladesh-India trade and investment'
Indian High Commissioner to Bangladesh Pranay Verma has said the Comprehensive Economic Partnership Agreement (CEPA) has the potential to enhance bilateral trade and investment ties by creating a new institutional framework and supply chain linkage. Both Bangladesh and India have agreed to negotiate the CEPA.
Bangladesh's Premier Sheikh Hasina and her Indian counterpart Narendra Modi directed trade officials on both sides to complete the CEPA negotiations at the earliest and in time for Bangladesh's graduation from LDC status.
Envoy Pranay Verma interacted with prominent business leaders and chambers of Bangladesh on Monday evening.
The high commissioner also highlighted the importance of better connectivity and trade infrastructure at the borders to harness the full potential of economic partnership offered by rapid economic development of both countries.
In this context_ he underscored the need to take pressure off ICP Petrapole Benapole by improving infrastructure at other land ports_ and increasing the number of ports without restrictions which would in turn incentivize investments in land ports.
The Indian envoy also spoke about the need for greater cooperation_ integration_ and multi-modal connectivity of the sub-region including through road_ railways_ inland waterways_ and coastal shipping.
In his speech_ the high commissioner highlighted the growing economic engagement between the two nations that have transformed the Bangladesh-India bilateral relationship significantly under the visionary leaderships of Premier Sheikh Hasina and her counterpart Narendra Modi.
Pranay Verma noted that bilateral trade has more than doubled in the previous five years and Bangladesh's exports to India have touched almost 2 billion US dollar in the last fiscal year with India becoming the largest export destination for Bangladesh in Asia.
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