CII delegation to meet ministers, business leaders and investment officials amid strained bilateral relations
An 18-member high-level delegation from the Confederation of Indian Industry (CII), one of India’s leading business organisations, is set to arrive in Dhaka today (17 August) to strengthen trade and investment ties with Bangladesh.
The delegation will stay in Bangladesh until 18 August.
Officials from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the CII said an advance team has already arrived in Dhaka to make preparations for the visit.
The visit comes amid strains in bilateral relations between Bangladesh and India. Trade and business between the two countries have also been affected by various port-related restrictions imposed by both sides over the past two years.
Against this backdrop, the Indian business delegation’s visit is being viewed as an important initiative to revive trade and investment ties between the two neighbours.
During the visit, the delegation is scheduled to meet Commerce Minister Khandakar Abdul Muktadir, State Minister for Foreign Affairs Shama Obaed Islam, and Finance and Planning Minister Amir Khosru Mahmud Chowdhury.
The delegation is also expected to hold meetings with officials from the FBCCI and the Bangladesh Investment Development Authority (BIDA).
An FBCCI official said the delegation had expressed interest in meeting Prime Minister Tarique Rahman, although no official details have yet been announced regarding such a meeting.
Representatives of several major Indian companies are part of the delegation, including Godrej Industries, Arvind Ltd, Infravision Foundation, LMW Global, Mahindra Group, Godrej Consumer Products, Larsen & Toubro, Forbes Marshall, Numaligarh Refinery, Beximco IOC Petroleum and Apollo Hospitals.
Bangladesh and India currently conduct around $12 billion in annual trade. Bangladesh’s exports to India, however, amount to only around $2 billion compared with the value of goods it imports from the neighbouring country.
The CII describes India as Bangladesh’s largest trading partner in South Asia and says it wants to further strengthen commercial ties between the two countries.
According to the Indian business body, economic cooperation is one of the key pillars of bilateral relations. It said trade between Bangladesh and India could increase significantly if market access were expanded, non-tariff barriers reduced and border infrastructure improved.
During the delegation’s visit, discussions are expected to focus not only on expanding trade but also on new investment opportunities, barriers to market access, border infrastructure and greater cooperation between businesses of the two countries.
