Bangladesh and India have agreed to work jointly to remove recent trade barriers and make bilateral relations more dynamic in the coming days, Commerce Minister Khandker Abdul Muktadir said on Monday.
He made the remarks after a meeting with Indian High Commissioner Pranay Verma at his office in the Secretariat in Dhaka.
The minister said both sides discussed ways to overcome trade complexities that emerged over the past one and a half years. “It is time to move past these challenges and strengthen our long-standing trade relations,” he told reporters.
Discussions also covered cooperation on key issues, including Bangladesh’s process to defer its graduation from the least developed country (LDC) status and ensuring the supply of essential commodities.
Muktadir noted that bilateral trade between Bangladesh and India currently stands at around $11 billion. “We have raised the specific barriers to the High Commissioner and discussed how to make trade smoother and more efficient in the future,” he said.
He added that Bangladesh’s request regarding LDC graduation deferment is now under process, expressing hope that India will remain supportive in this regard.
The minister also voiced concern over rising tensions in the Middle East, warning that any disruption in the Strait of Hormuz could impact global trade and, in turn, Bangladesh. However, he assured that the country currently has adequate stocks and supply of essential commodities.
State Minister for Commerce Mohammad Shariful Alam and senior officials, including Commerce Secretary Mahbubur Rahman, were present at the meeting.