New Delhi: A Bangladesh delegation is expected to visit New Delhi in early October for a meeting of the Joint Working Group (JWG) on trade, sources said on Saturday.
The visit is expected to provide an opportunity for the two sides to discuss bilateral trade and economic issues, including ways to further strengthen commercial ties between India and Bangladesh.
The JWG serves as a mechanism for India and Bangladesh to hold discussions on trade-related matters and address issues concerning bilateral commerce.
The development comes amid efforts by the two neighbouring countries to maintain engagement on economic and trade-related issues.
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Building upon this continuous diplomatic engagement, the 15th Meeting of the Joint Working Group on Trade (JWG) between India and Bangladesh was held on September 26 and 27, 2023, in Dhaka, Bangladesh.
The 15th Meeting of the JWG discussed a host of bilateral issues such as removal of port restrictions, groundwork on commencement of the Comprehensive Economic Partnership Agreement (CEPA), harmonisation of standards, mutual recognition of standards, supply of essential commodities to Bangladesh, development of road and rail infrastructure, regional connectivity through multi-modal transportation, and creation/strengthening of infrastructure in Land Customs Stations/Integrated Check Posts, border haats, etc.
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The bilateral meeting successfully concluded with both countries reaffirming their commitment to deeper economic engagement, regional cooperation, and sustainable development. Both sides reiterated that the future holds great promise for enhanced trade relations and mutual prosperity.
The India-Bangladesh Joint Working Group on Trade (JWG) Meetings are held to discuss key trade-related issues and explore opportunities for economic and technical collaboration, promotion, facilitation, expansion, and diversification of trade between the two countries on the basis of equality and mutual benefit.
These meetings play a vital role in the quick resolution of bilateral issues by removing trade barriers, simplifying customs procedures, and improving infrastructure, logistics, and transit facilities to facilitate smoother cross-border trade.
Several trade facilitative measures have been undertaken by both India and Bangladesh to facilitate trade between the countries. India has allowed exports from Bangladesh to India by rail in closed containers, with customs clearance facility at any Inland Container Depot (ICD), vide circular dated May 17, 2022.
Bangladesh informed about the successful commencement of the Agreement on the Use of Chattogram and Mongla Port (ACMP) and increasing the number of goods to be traded through various Land Customs Stations (LCSs).
