ICC Bangladesh urges faster CEPA deal with India

The International Chamber of Commerce-Bangladesh (ICC Bangladesh) has urged Bangladesh and India to expedite the proposed Comprehensive Economic Partnership Agreement (CEPA), remove non-tariff barriers and expand private sector cooperation to boost bilateral trade and investment.

The call was made during a meeting between ICC Bangladesh President Mahbubur Rahman and India’s High Commissioner to Bangladesh Dinesh Trivedi at the ICC Bangladesh Secretariat in Dhaka on Monday, according to a press release.

Mahbubur said stronger business-to-business engagement between the two countries is essential for sustainable economic growth and reducing the trade imbalance.

He noted that bilateral merchandise trade between Bangladesh and India stood at around US$11.39 billion in the fiscal 2024-25, with Bangladesh exporting goods worth $1.76 billion and importing $9.62 billion from India.

To increase exports, Mahbubur called for improved market access for Bangladeshi products, removal of non-tariff barriers, harmonisation of standards, simplified customs procedures and early completion of CEPA negotiations.

The meeting also discussed expanding cooperation in investment, regional value chains, multimodal connectivity, renewable energy, cross-border power trade, digital commerce, fintech, artificial intelligence, climate finance, sustainable manufacturing, healthcare, education and skills development.

Mahbubur stressed the need to revive regional economic cooperation through SAARC, expedite the Bangladesh-Bhutan-India-Nepal (BBIN) Motor Vehicles Agreement and strengthen BIMSTEC collaboration to improve connectivity and supply chains.

He also urged India to address anti-dumping measures affecting Bangladeshi jute and jute products through continued dialogue.

Speaking at the meeting, High Commissioner Dinesh Trivedi said Bangladesh and India have the potential to become a global economic powerhouse by leveraging their strengths in innovation, education, healthcare and human capital.

He said stronger political engagement and increased private sector participation could help resolve longstanding bilateral issues. He also highlighted the potential for joint venture industries in border areas to attract investment, strengthen regional value chains and create employment.

Read More

Govt turns to solar for energy security

The envoy assured Bangladeshi businesses of the high commission’s support in addressing trade and investment-related challenges.

During the discussion, ICC Bangladesh Vice-President Naser Ezaz Bijoy called for easier business visa procedures, while Executive Board Member Abdul Hai Sarker expressed hope that unresolved trade issues would be addressed during the high commissioner’s tenure.

ICC Bangladesh said it would continue working with the Indian High Commission and ICC India under the Federation of Indian Chambers of Commerce and Industry to deepen economic cooperation between the two countries.