The visiting delegation of Dhaka Chamber of Commerce & Industry (DCCI) requested Industry, Commerce and Enterprises Minister of West Bengal Partha Chatterjee to facilitate Kolkata investors to invest in the Economic Zones (EZs) of Bangladesh.
During the meeting with the West Bengal Minister on 27 May, DCCI President Rizwan Rahman, who led the delegation, requested him to address prevailing non-tariff barriers, relaxation of rules of origin and withdrawal of anti-dumping duty to facilitate trade and investment.
However, Indian investment in Bangladesh is $3.55 billion so far.
Rizwan Rahman also said due to lack of adequate infrastructure of the land ports, lead time of export and import increased, said a DCCI press release.
In order to ensure a win-win situation, a comprehensive economic partnership agreement (CEPA) can be signed, said the Dhaka Chamber President.
He also requested for recognition of Bangladesh Standards & Testing Institution (BSTI) certificates for some products.
Partha Chatterjee suggested the Dhaka Chamber and its counterpart in India, the Indian Chamber of Commerce, to initiate a joint study to identify opportunities, challenges and weaknesses in the existing operation of trade and commerce between India and Bangladesh.
Bangladesh is good in finished jute products and he termed textile as a potential area where investors of both the countries have good prospects, he also said.
He also said, "We need to utilise the regional corridors for better economic development."
Later, the DCCI delegation also had a meeting with the Chairman of West Bengal Industrial Development Corporation Rajiva Sinha at his office.
Rajiva Sinha said, "We have to improve our transportation system to boost the bilateral trade to the expected level."
Besides, the private sector should identify the problems of doing business and the government should react to these issues through needed policy support. More railway accessibility will play a vital role in goods transportation, he said.
He also suggested chamber to chamber relations for better business.
During an interactive B2Bs with DCCI delegation, President Designate of the Bengal Chamber of Commerce & Industry (BCC&I) Subir Chakraborty said connectivity has been central to India's investment in Bangladesh. India has a focus on building infrastructure connectivity between the north eastern region and Bangladesh.
Later, the delegation had meetings with the Principal Secretary, Tourism Department Nandini Chakravorty and with the Kolkata Port Trust.
In all the meetings, both the sides stressed on smoother connectivity, policy assistance, identifying existing trade barriers and possible way out and exchange of business delegations.