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Indian High Commissioner to Bangladesh Veena Sikri advised the Bangladeshi entrepreneurs to seriously consider formation of a business forum to be dedicated to resolve trade and investment issues much quicker.
"There should be a forum where interested entrepreneurs from both sides can meet to discuss issues of common concern and recommend mutually agreed beneficial solutions," said Sikri at a discussion on "Exchange of Views on Trade and Economy", hosted by the Bangladesh Chamber of Industries (BCI) Tuesday.
Bangladeshi entrepreneurs and chamber leaders warmly welcomed Indian proposal and said the political mindset of both the countries needed radical reshuffle to face current economic challenges of the world.
"Perhaps we need to set up a Bangladesh-India Business Forum dedicated to our bilateral trade, economic and investment issues. I would request you to seriously consider this suggestion," the High Commissioner added.
The industrialists and chamber persons, in the meantime, reiterated their demand that India gives Bangladesh some preferential treatments to minimise huge bilateral trade imbalance.
Veena Sikri said that Bangladesh should sign a free trade agreement with India to accrue benefits from vast Indian market.
"India should make it a level playing field for Bangladesh," said Aftabul Islam, president of American Chamber of Commerce (AmCham) in Bangladesh, hinting lower trade imbalance might prompt entrepreneurs to support a FTA.
Aftab said the finance and commerce ministers should look into the FTA matter seriously as the entire world was taking benefits from such business deals.
Former BCI president Sharif M Afzal Hossain said India should understand the agitating minds of Bangladeshi people that Bangladesh received nothing significant from India.
Afzal noted that India must take steps to curb smuggling of products in to Bangladesh and that it must remove non-tariff, para-tariff barriers on Bangladeshis imports.
He criticised some Indian exporters who were not complying with business contracts and was shipping inferior quality products.
Many prominent entrepreneurs, such as Chairman of Nitol Group Matlub Ahmed, former Deputy Prime Minister Jamaluddin Ahmed, chairman of MM Ispahani Limited Mirza Ali Behrouze Ispahani, chairperson of Women Entrepreneurs Association (WEA) Nasreen Awal Minto and BCI president AK Azad were present.
The Indian High Commissioner put emphasis on riverine and rail communication, which she said, was mostly neglected by these next door neighbours.
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