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‘Sense of mistrust’ obstacle to sign FTA with Bangladesh

DHAKA: The Indian High Commissioner, Pinak Ranjan Chakravarty, said India is ready to sign a free trade agreement (FTA) with Dhaka in view of the positive outcome of a Delhi-Colombo FTA. However, he said, ‘a sense of mistrust’ still remains an obstacle to inking such a pact.

Mr. Chakravarty made these comments at the monthly luncheon meeting of the Foreign Investors’ Chamber of Commerce and Industry here on Sunday.

He lamented that there had been no progress after the latest negotiations on FTA in 2002.

The meeting was attended, among others, by foreign business personalities, CEOs of multinational companies operating in Bangladesh and different chamber body leaders.

The envoy also disclosed that India was expected to approve the importation of upto eight million pieces of apparel from Bangladesh at its next Cabinet meeting. However, he said the Bangladesh Government needed to be more serious in its attempts to sign an FTA with India.

The High Commissioner also called for opening up of more trade routes between Bangladesh and India to promote bilateral trade and economic development.

On the Indo-Bangla widening trade gap, he stressed the need for re-opening of the closed land ports on the Bangladesh side in order to accelerate trade activities. The two-way trade had been growing fast and had crossed $2.5 billion this year against $2.1 billion in the previous year, he said.

He suggested that both Bangladesh and India should move forward with proposals for improving road, rail, air, shipping and inland water links.

“I am aware that the government of Bangladesh is committed to facilitate investments in Bangladesh,” Mr. Chakrabarty said.

Replying to a question whether cooperation in real term was possible with mistrust between the peoples of the two countries, he said the mistrust would not be removed ‘unless we start working together.’

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