DHAKA, Nov 2, 2017 (BSS) – Seeking more Indian investments in Bangladesh to minimize trade gap between Bangladesh and India, Amir Hossain Amu said India can set up industries in economic zones of Bangladesh to import products there that can help reduce trade gap between the two neighbours.
“Bilateral trade between Bangladesh and India reached US$7.0 billion in 2016-17 but Bangladesh’s trade gap with India is worth more than $6 billion. To reduce this gap, India can set up industries here and imports products from them,” said Amu told the opening session of India’s engineering exposition here today.
Engineering Export Promotion Council (EEPC) of India has organized the expo at Bashundhara Convention Centre to showcase Indian engineering and technologies.
The 3-day expo titled: “India-Bangladesh INDEE”, is a flagship engineering exhibition which was designed with a view to enhancing bilateral trade, mutual investment, joint ventures and technology transfer among the businesses of the two countries.
Indian High Commissioner in Dhaka Harsh Vardhan Shringla, joint secretary of India’s industries and commerce ministry B S Bhalla, acting president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Sheikh Fazle Fahim, president of India Bangladesh Chamber of Commerce and Industry Taskin Ahmed, India’s EEPC chairman T S Bhasin spoke on the occasion.
Amu said Indian is the largest trading partner of Bangladesh in South Asia and there are $3.11 billion Indian investments in Bangladesh.
Bangladesh received $88 million (FDI) investment from India in 2015-16, he said, adding that Indian investment is expected to cross $9.0 billion as a number of investment deals were signed with Indian entrepreneurs during Prime Minister Sheikh Hasina’s visit to India.
He said Bangladesh will give Indian investors a separate economic zone for their investments in Bangladesh.
Harsh Vardhan Shringla said Bangladesh gets priority in bilateral relations of India. Bangladesh has now become an attractive investment place because it has achieved a steady economic growth.
Over 100 Indian engineering and technology firms are taking part in the exhibition which will remain open for all from 10am to 7pm.