Mon, 11 Dec 2023

New Delhi [India], October 1 (ANI): The 15th Meeting of the Joint Working Group on Trade (JWG) between India and Bangladesh was held on September 26 and 27 in Dhaka, Bangladesh, where the two nations discussed various bilateral issues, including removal of port restrictions, the groundwork for commencement of the Comprehensive Economic Partnership Agreement (CEPA).

The meeting was co-chaired by the Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India, Vipul Bansal and Additional Secretary, Ministry of Commerce, Government of Bangladesh, Noor Md. Mahbubul Haq.

"The 15th Meeting of JWG discussed a host of bilateral issues such as the removal of port restrictions, groundwork for commencement of the Comprehensive Economic Partnership Agreement (CEPA), harmonization of standards, mutual recognition of standards, supply of essential commodities to Bangladesh, development of road and rail infrastructure, regional connectivity through multi-modal transportation and creation/ strengthening of infrastructure in Land Customs Stations/ Integrated Check Posts, border haats, etc," the Ministry of Commerce and Industry said in a statement.

The Joint Working Group on Trade (JWG) Meetings between India and Bangladesh are held annually to discuss key trade-related issues and "explore opportunities for economic and technical collaboration, promotion, facilitation, expansion and diversification of trade between the two countries on the basis of equality and mutual benefit." Moreover, these meetings play a crucial role in quickly resolving bilateral issues by removing trade barriers, simplifying customs procedures, improvement of infrastructure, logistics, and transit facilities to facilitate smoother cross-border trade.

The 15th JWG on Trade meeting concluded with both countries reaffirming their commitment to strengthen economic engagement, regional cooperation, and sustainable development.

"Both sides reiterated that the future holds great promise for enhanced trade relations and mutual prosperity," the statement said.

Moreover, India and Bangladesh took several trade facilitative measures to facilitate trade between the countries.

"India has allowed exports from Bangladesh to India by rail in closed containers, with customs clearance facility at any Inland Container Depot (ICD) vide circular dated May 17, 2022," the statement said.

The statement further read, "Bangladesh informed about successful commencement of Agreement on the use of Chattogram and Mongla Port (ACMP) and increasing the number of goods to be traded through various Land Custom Stations (LCSs)." (ANI)

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