Trade relations between India, Bangladesh should flourish: Bangladeshi business tycoon Abdul Matlub Ahmad

Abdul Matlub Ahmad, Chairman of the top business organisation Nitol-Niloy Group of Bangladesh believes that 'Bangladesh-India' business relationship is better right now than any time in the past.

The country's top organisation of the business community FBCCI's president Ahmad said, "To promote development of the two countries, their business sector should flourish and gain importance. He also told India Today, "We have historical links with India since the birth of the country; we will not be able to move forward leaving each other."

INDO-BANGLA RELATION AT PEAK

The observations have proved that the improved Indo-Bangla relationships have also led to the development of nations both politically and economically. The political relationships of both the countries were at peak in 1974, but declined gradually. After PM Sheikh Hasina's recent visit to India, a huge change is visible in the mindset of the people. It is now time for the trade and business community to utilise the great friendship among the two countries.

ROLE OF INDO-BANGLA CHAMBER OF COMMERCE & INDUSTRY

The Indo-Bangla Chamber of Commerce & Industry was started around 12 years ago, when the relationship between the two countries especially in trade and investment was poor. The Indo-Bangla Chamber of Commerce & Industry has played an important role in trying to get Bangladesh goods to India with total market access. In fact, Bangladesh has not explored the export industry in depth so far leaving no great investment opportunities for India in Bangladesh. Next agenda of the Indo-Bangla Chamber of Commerce & Industry is to create more investment and export options in Bangladesh. Creating potential investment options shall be the key focus.

TRADE BALANCE SYSTEM OVER INDO-BANGLA BUSINESS RELATIONSHIP

The bilateral trade balance between the two countries only favours India. Although India had removed all import taxes on Bangladeshi goods in 2011, we did not see any significant growth of Bangladeshi exports to India, whereas Bangladeshi imports from India have grown even more. While we appreciate Indian products coming to Bangladesh, but growth of some Bangladeshi exports also has to flourish in India as well. Hence, we are encouraging Indian investors who are producing in Bangladesh, to look into the prospect of exporting the Indian branded goods back to India.

IMPACT ON BILATERAL TRADE AFTER MILITANT ACTIVITIES IN BANGLADESH

Well, militancy is everywhere. I can see it in Europe, I can see it in India also. It is everywhere. The best part in Bangladesh is that the government is totally alert and continuously working towards the removal of all militant activities in Bangladesh. The government stands clear on not to encourage any militancy in Bangladesh. With changing times, countries reluctant to visit Bangladesh have a changed opinion. Henceforth, a great influx of foreign investors and foreign visitors to Bangladesh is being seen. We do not feel that militancy could dent any confidence in the foreigners visiting Bangladesh as it is a safe country to visit, invest and travel to.

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