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Delhi-Dhaka trade becoming one-sided, need to balance it, says Bangladesh FM on India visit

Black_cats

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Delhi-Dhaka trade becoming one-sided, need to balance it, says Bangladesh FM on India visit​

In an interview with ThePrint, Foreign Minister A.K. Abdul Momen also discusses how Bangladesh PM Sheikh Hasina’s ‘zero tolerance’ for terrorism has brought 'stability' to South Asia.

NAYANIMA BASU21 June, 2022

File photo of Bangladesh Foreign Minister A.K. Abdul Momen | ANI
File photo of Bangladesh Foreign Minister A.K. Abdul Momen | ANI

New Delhi: Trade between India and Bangladesh has been “flourishing”, but it’s not as balanced as it could be, according to the country’s foreign minister, A.K. Abdul Momen, who concluded a three-day visit to India Monday.

While Bangladesh’s exports to India have reached $2 billion, Indian shipments to the neighbouring country amounted to $14 billion in 2021. In view of this, Dhaka wants Delhi to remove India’s anti-dumping duty on jute products from Bangladesh.

“Trade and business between Bangladesh and India have been flourishing … But it is becoming a one-sided trade so we need to balance it and we need India to give us more flexibility because India has put some anti-dumping [duty] on our jute goods,” Momen said, adding that he had been “assured” that a “committee” in India would “look into” the matter.

In a wide-ranging exclusive interview with ThePrint, Momen, a former economist and diplomat, also spoke about why he thinks Bangladesh Prime Minister Sheikh Hasina’s “zero tolerance policy” on terrorism had brought “stability” to all of South Asia, the Teesta water-sharing dispute, and how India might be able to “push Myanmar” into repatriating the Rohingyas.

Momen was on a three-day trip to India to attend the India-Bangladesh Joint Consultative Commission (JCC) with his Indian counterpart, External Affairs Minister S. Jaishankar. During the visit, Momen also met Vice President Venkaiah Naidu and National Security Advisor Ajit Doval.

According to a joint statement issued by the Ministry of External Affairs after the JCC, the Indian side had requested the completion of all pending border fencing at the international border, beginning from Tripura till the Bangladesh sector.

“On the issue of border fencing, both sides have decided to follow international rules,” the Bangladeshi foreign minister said, adding that he hoped India-Bangladesh bilateral ties would become “a solid relationship” within the next 50 years.

“In order to do better, we also appreciated that Bangladesh and India have a historical relationship. It’s a modern relationship. Of course, we have mutual trust, respect and confidence,” he said.

Last year, both President Ram Nath Kovind and Prime Minister Narendra Modi had visited Bangladesh. This year, Bangladeshi Prime Minister Hasina is expected to arrive on a reciprocal visit to India in early September.

 

Bilal9

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“Trade and business between Bangladesh and India have been flourishing … But it is becoming a one-sided trade so we need to balance it and we need India to give us more flexibility because India has put some anti-dumping [duty] on our jute goods,” Momen said, adding that he had been “assured” that a “committee” in India would “look into” the matter.

Indian foreign ministry and trade ministry have been "looking into" trade imbalance with Bangladesh for fifty long years.

Indians know they can carry on applying illegal baseless dumping tariffs on our exports to India because they have our ministers in their pockets.

No one gives a hoot in India about easing or increasing Bangladeshi exports to India. Not happening. There is no impetus.

Why should they when we don't even apply tariffs on Indian exports to Bangladesh in tit-for-tat fashion? They know we got nuthin'.

Dilli door ast.
 
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mb444

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There is always a silver lining in the worst of situations. Certaintly we require more balanced trade between india and BD.

However as we buy more from India the sheer purchasing power creates indian economic dependence on BD more and more. We can always switch to another source but they wont find buyers very easily.

More it continues the greater the dependency that can be leveraged for BD gain.
 

Protest_again

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Indian foreign ministry and trade ministry have been "looking into" trade imbalance with Bangladesh for fifty long years.

Indians know they can carry on applying illegal baseless dumping tariffs on our exports to India because they have our ministers in their pockets.

No one gives a hoot in India about easing or increasing Bangladeshi exports to India. Not happening. There is no impetus.

Why should they when we dony't even apply tariffs on Indian exports to Bangladesh in tit-for-tat fashion? They know we got nuthin'.

Dilli door ast.
Start making other than chaddis. If your entire exports (85%) to the world is made of chaddis (and in India we can make our own chaddis). Don't expect this imbalance to change.

There is always a silver lining in the worst of situations. Certaintly we require more balanced trade between india and BD.

However as we buy more from India the sheer purchasing power creates indian economic dependence on BD more and more. We can always switch to another source but they wont find buyers very easily.

More it continues the greater the dependency that can be leveraged for BD gain.
We have been cajoling ourselves with the same hubris with respect to China. lol.
 

mb444

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Start making other than chaddis. If your entire exports (85%) to the world is made of chaddis (and in India we can make our own chaddis). Don't expect this imbalance to change.


We have been cajoling ourselves with the same hubris with respect to China. lol.
I see what you are saying.... but india is not china...

BD does not depend on india for its economy or security...
 

N.Siddiqui

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Start making other than chaddis. If your entire exports (85%) to the world is made of chaddis (and in India we can make our own chaddis). Don't expect this imbalance to change.
Chaddi Dharis need lots and tons of Chaddis, India should give BD GSP Plus for this preferential exports of Chaddis at lower/No tarifs.
 

UKBengali

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I see what you are saying.... but india is not china...

BD does not depend on india for its economy or security...


BD is the 4th largest export destination for India and could rise to 3rd place by 2030.

Two economies will be heavily integrated by then along with Nepal and Bhutan.
 

Protest_again

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Chaddi Dharis need lots and tons of Chaddis, India should give BD GSP Plus for this preferential exports of Chaddis at lower/No tarifs.
Not viable solution.

I see what you are saying.... but india is not china...

BD does not depend on india for its economy or security...
no one dependent on anybody. You import where it is cheap. Same with India-China equation.
 

Bilal9

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Start making other than chaddis. If your entire exports (85%) to the world is made of chaddis (and in India we can make our own chaddis). Don't expect this imbalance to change.

Are you daft? These look like Chaddis to you Mr. Bhojpuri Hero?

ref-f-new.jpg


tamarind-desktop.jpg


287807121_5557043421026420_4744967600322561277_n.jpg


286501722_5534163679981061_8580609009476690240_n.jpg


wm-half-home-page.jpg



and since you bhojpuris are a hairy lot, here is the latest in hair trimming tek-na-lajee made in Bangladesh. They aren't gonna shave the smelly hair themselves though, better get to it - chop chop !!

280594923_5449652758432154_4947761073228577907_n.jpg
 
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Protest_again

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Are you daft? These look like Chaddis to you Mr. Bhojpuri Hero?

ref-f-new.jpg


tamarind-desktop.jpg


287807121_5557043421026420_4744967600322561277_n.jpg


286501722_5534163679981061_8580609009476690240_n.jpg


wm-half-home-page.jpg



and since you bhojpuris are a hairy lot, here is the latest in hair trimming tek-na-lajee made in Bangladesh. They aren't gonna shave the smelly hair themselves though, better get to it - chop chop !!
Lol. Walton exported about $11 million worth of electronics exports in 2020. Let them conquer the world before you accused us about trade barriers. By the way who the **** buys anything out of Bangladesh?
 

Bilal9

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There is always a silver lining in the worst of situations. Certaintly we require more balanced trade between india and BD.

However as we buy more from India the sheer purchasing power creates indian economic dependence on BD more and more. We can always switch to another source but they wont find buyers very easily.

More it continues the greater the dependency that can be leveraged for BD gain.

So - the question is, will the tail wag the dog or vice versa? :-)
 

mb444

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Lol. Walton exported about $11 million worth of electronics exports in 2020. Let them conquer the world before you accused us about trade barriers. By the way who the **** buys anything out of Bangladesh?
Walton has captured the white good market of 165m people and now starting to export internationally.

BD has also started to export mobile phones and is on target to export $200m worth of pharmaceuticals to 151 countries.

BD leather goods are on target to break $1bn exports this year.

New grounds are being broken everyday.... import substitution is where BD entrepreneurs are striving hard.

In export terms many of these developments are overshadowed by RMG which has no where reached full potentials.
 

Protest_again

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Walton has captured the white good market of 165m people and now starting to export internationally.

BD has also started to export mobile phones and is on target to export $200m worth of pharmaceuticals to 151 countries.

BD leather goods are on target to break $1bn exports this year.

New grounds are being broken everyday.... import substitution is where BD entrepreneurs are striving hard.

In export terms many of these developments are overshadowed by RMG which has no where reached full potentials.
I mean India exports $25 billion worth of Pharmaceuticals and $15 billion worth of electronic goods (growing rapidly) but no where we show the same hubris that Bangladeshis show when it comes to Walton. Some even claim it to be next Samsung. Lol.
 

Bilal9

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I mean India exports $25 billion worth of Pharmaceuticals and $15 billion worth of electronic goods (growing rapidly) but no where we show the same hubris that Bangladeshis show when it comes to Walton. Some even claim it to be next Samsung. Lol.

Dhirey Alpayu (अल्पायु) Dhirey.

Raat abhi baki hai....

India can make lots of garbage in jhupar pattis, but none of them compare to Walton products.

There is a reason why Indian National Geo chose Walton as a subject for their only electronic superfactory episode.

Go watch it sometime.
 

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