India, Bangladesh discuss trade settlement in rupee, free trade agreement

India-Bangladesh: Other issues that were discussed were the removal of non-tariff barriers and the re-opening of border haats

Union minister of Commerce and Industry Piyush Goyal and his Bangladeshi counterpart Tipu Munshi discussed the settlement of trade in Indian rupees in New Delhi on Thursday. The two countries will also likely develop a free trade agreement (FTA) soon.

"A joint feasibility study on a Comprehensive Economic Partnership Agreement (CEPA) has been carried out after the two countries agreed to explore a bilateral FTA," said the commerce ministry. 

Under CEPA, two countries either significantly reduce or eliminate customs duties on maximum numbers of goods traded between them. Besides, they ease norms for promoting trade in services and attracting investments.