Bangladesh approves revised trade deal with India

The Government of Bangladesh has approved a revised India-Bangladesh trade agreement under which both neighbours would use each other's territories for trade with a third country.

The modified deal will enable Bangladesh to use Indian territories for transiting goods to Nepal and Bhutan, while India would be able to send goods to Myanmar through Bangladesh.

Cabinet Secretary Musharaf Hossain Bhuiyan told media here that both countries would be able to use each other's rail, road and waterway networks for transporting the goods for a fee.

He said that fees and charges for transporting goods would be fixed through discussions, and would be the same for both the countries.

Under the previous agreement, goods-laden vehicles entering India or Bangladesh were parked at the borders requiring further inland transport.

The new agreement would be effective for five years instead of the existing three years. Both sides have also agreed that the pact can be amended further through mutual understanding.

Bangladesh Commerce Minister Tofail Ahmed described it as a win-win situation for bothe Dhaka and New Delhi.