Bangladesh Garment Manufacturers and Exporters Association (BGMEA) made a request for removing export-import related trade barriers to save time and cost and boost bilateral business with India.
BGMEA President Faruque Hassan made the request recently when he paid a courtesy call on Harsh Vardhan Shringla, Foreign Secretary of India, at his official residence in New Delhi, according to a statement. BGMEA Director Tanvir Ahmed was also present at the meeting. The trio discussed potential areas of cooperation to enhance trade between Bangladesh and India, said the statement.
They also talked about existing problems in export-import trade and non-tariff barriers, especially in textiles products trading, and possible means to address them.
“Both neighbouring countries can gain mutual trade benefits by complementing each other, particularly in boosting apparel and textile businesses,” Hassan said.
“India is one of the major markets for importing raw materials for our RMG industry. We import man-made fibre, yarn, fabric, chemicals, machinery, dyes etc. Bangladesh is giving emphasis on high-end MMF-based apparel items. India, as a major supplier of textiles including MMF fabrics, can meet the growing demand of Bangladesh.”
On the other hand, India is a promising export market for Bangladeshi readymade garments due to geographical proximity, competitive price and quality, he said. So, both countries have scope to tap into the reciprocal trade benefits, he added.
The BGMEA President requested the Indian foreign secretary for steps to expedite and facilitate trade, especially removing non-tariff barriers and simplifying export-import procedures through the land ports in order to reduce time and cost.
