India offers to reduce negative trade list with Bangladesh

October 1st, 2009 - 2:42 pm ICT by IANS  

Dhaka, Oct 1 (IANS) The Indian envoy to Bangladesh has offered to reduce the number of negative items on the bilateral trade list to facilitate commerce between the two neighbours.
High Commissioner Pinak Ranjan Chakravarty has also mooted joint investments to boost bilateral trade between the two South Asian countries to offset the trade balance that is at present heavily tilted in New Delhi’s favour.

The negative trade list, already reduced from 700 to 400 items, could be shortened further, New Age newspaper said.

“There is no (need to) fear, we are your friend, we will remain your friend,” the envoy was quoted as saying while opening the fourth “Buyer-Seller Meet and Exhibition” on Indian footwear components and accessories here Wednesday.

Twenty-three Indian companies are showcasing their products at the two-day event organised by the Council for Leather Exports, an autonomous non-profit company set up by India’s commerce ministry to promote exports of leather products, and the Indian Footwear Components Manufacturers Association.

The organisers said India produces footwear and accessories worth $7 billion with $3.6 billion worth of exports.

The president of Leather Goods Footwear Manufacturers and Exporters Association of Bangladesh, Syful Islam, said demand for the Indian components was “growing here day by day”, the paper said.

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