Trade body targets to increase Bangladesh exports to India

The India-Bangladesh Chamber of Commerce and Industry (IBCCI) hopes to increase exports from Bangladesh to India to $1 billion by June 2011.

"We hope to increase exports to India to $1 billion by June 2011," IBCCI President Abdul Matlub Ahmad said.

Referring to the trade imbalance existing between both the countries, Ahmad proposed to explore the idea of shipping ready-made and knit garments from Bangladesh to India under the duty free quota.

The IBCCI also targets to set up 100 joint venture industries in Bangladesh with a view to encourage transfer of technology and re-export goods to India with special emphasis on the North East, he said at a seminar here.

The President of the Federation of the Bangladesh Chambers of Commerce and Industry Anisul Huq expressed a keen desire to invest in the joint venture cement plants with Meghalaya where the state could hold its cache of cement as equity in such ventures.

Joint efforts of trade organisations of both countries have paved the way for Bangladesh to start export of new products such as bricks to Tripura.