Proposal to form B2B taskforce to boost Bangladesh-India trade

India's Deputy High Commissioner to Dhaka, Pawan Kumar Tulshidas Badhe, has proposed forming a Business-to-Business (B2B) taskforce comprising businessmen and entrepreneurs of the two countries to increase trade and investment between Bangladesh and India.

He made the proposal during a courtesy meeting with Md Fazlul Haque, administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), at the FBCCI office in Gulshan in the capital on Sunday, September 20. The meeting discussed various aspects of further expanding trade relations between the two countries, creating investment opportunities and increasing business communication.

At the meeting, India's Deputy High Commissioner said an effective coordination framework at the business level is needed to tap into the potential of bilateral trade and investment. A B2B taskforce could be formed for this purpose, he said. He also said the Indian High Commission is continuing regular communication and discussions with the governments of both countries regarding the formation of the taskforce.

Pawan Kumar Tulshidas Badhe sought active cooperation from Bangladesh's private sector in this initiative. He particularly emphasised increasing the involvement of businessmen and entrepreneurs under the leadership of the FBCCI. At the same time, the meeting also highlighted the need to reduce existing tariff and non-tariff barriers in conducting trade between the two countries and to make business communication easier.

During the meeting, the Indian Deputy High Commissioner also spoke about the visa process for Bangladeshi citizens travelling to India. He claimed that visa processes for various categories have currently been made easier than before. He also said the Indian High Commission is issuing around 5,000 visas daily.

FBCCI Administrator Md Fazlul Haque said a joint taskforce could play an important role in expanding trade and investment between the two countries. He called on businessmen and entrepreneurs of Bangladesh and India to increase mutual cooperation in potential sectors.

The meeting emphasised strengthening communication between the private sectors of the two countries, identifying new investment areas and removing existing obstacles to trade expansion. Concerned parties believe that if a framework for regular communication and coordination at the business level is created, new areas of commercial relations between the two countries could open up.