The International Chamber of Commerce-Bangladesh (ICC Bangladesh) on Sunday called for the early conclusion of a Comprehensive Economic Partnership Agreement (CEPA) with India, saying the proposed pact would help improve market access for Bangladeshi products, reduce non-tariff barriers and narrow the widening bilateral trade gap.
The call came during a meeting between ICC Bangladesh leaders and India’s High Commissioner to Bangladesh, Dinesh Trivedi, at the ICC Bangladesh Secretariat in Dhaka.
Welcoming the envoy, ICC Bangladesh President Mahbubur Rahman described Bangladesh and India as longstanding partners with expanding economic ties and stressed the need for stronger private sector engagement to unlock the full potential of bilateral trade and investment.
According to ICC Bangladesh, bilateral merchandise trade stood at around US$11.39 billion in the 2024-25 fiscal year. Bangladesh exported goods worth US$1.76 billion to India while imports from the neighbouring country totalled US$9.62 billion.
Rahman said Bangladesh’s exports could grow significantly if both countries improved market access, harmonised standards, simplified customs procedures and addressed non-tariff barriers. He also urged India to resolve anti-dumping measures affecting Bangladeshi exports, particularly jute and jute products, through continued dialogue.
The meeting explored opportunities to expand cooperation in investment, regional value chains, multimodal connectivity, renewable energy, cross-border electricity trade, digital commerce, fintech, artificial intelligence, climate finance, sustainable manufacturing, healthcare, education and skills development.
Rahman also emphasised the importance of revitalising regional cooperation through SAARC, accelerating implementation of the Bangladesh-Bhutan-India-Nepal (BBIN) Motor Vehicles Agreement and advancing practical collaboration under BIMSTEC to improve connectivity and regional supply chains.
Addressing the meeting, High Commissioner Dinesh Trivedi said Bangladesh and India possess the strengths required to emerge as a major global economic force, citing their capabilities in innovation, education, healthcare and human capital.
He said many longstanding bilateral issues could be resolved through sustained dialogue at the highest political level and stressed that the private sector would play a central role in boosting investment, economic growth and employment.
The High Commissioner also pointed to the potential for establishing joint venture industries in border areas to strengthen regional value chains, attract investment and generate employment. He assured Bangladeshi businesses of the High Commission’s support in addressing challenges related to bilateral trade and investment.
During the discussion, ICC Bangladesh Vice-President Naser Ezaz Bijoy called for further improvements in the issuance of business visas to facilitate commercial exchanges between the two countries.
Executive Board Member Simeen Rahman highlighted opportunities to expand cooperation in trade, healthcare, medical services and tourism, while board member Abdul Hai Sarker expressed hope that longstanding bilateral trade issues would be addressed during the tenure of the new High Commissioner.
ICC Bangladesh reiterated its commitment to strengthening business-to-business cooperation through joint business councils, CEO forums, SME partnerships, startup exchanges, investment missions and technology collaboration.
The meeting was attended by Deputy High Commissioner of India Pawan Kumar Badhe, Second Secretary (Economic and Commerce) Gourab Kumar Agarwal, ICC Bangladesh Secretary General Ataur Rahman and other officials from both sides.