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India ready for negotiations of economic pact with Bangladesh, says Envoy

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India ready for negotiations of economic pact with Bangladesh, says Envoy

By ANI | Asia | Last Updated at October 14 2021 08:38 IST
Topics Free Trade Agreements | Bangladesh


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Photo: Shutterstock

Underlining the fast-growing bilateral trade relationship, Indian High Commissioner to Bangladesh Vikram Doraiswami has said that the proposed Comprehensive Economic Partnership Agreement (CEPA) between the two countries is a "win-win" situation and India is ready for negotiations as early as January 2022.

Doraiswami made these remarks during an interview with the Dhaka Tribune.

Bangladesh is India's biggest trade partner in South Asia and India is the second biggest trade partner of Bangladesh, according to the External Affairs Ministry. Bilateral trade between India and Bangladesh has grown steadily over the last decade and the exports of Bangladesh have tripled over the last decade to cross USD 1 billion in 2018-19.


Answering a question on study for a bilateral free trade agreement, the High Commissioner said, "Well, the original timeline for completion of the joint study -- for what we call a Comprehensive Economic Partnership Agreement, or CEPA, which is an FTA plus arrangement -- was September this year."

Doraiswami expressed confidence that the CEPA with Bangladesh is among the few Free trade Agreements (FTAs) that India is prioritizing.

"It will be among a handful of similar arrangements that we will pursue, provided we are able to start the discussions with our counterparts in Bangladesh soon," he said.

The Indian High Commissioner noted that there is every economic reason for India to prioritize this CEPA.

"This is a fast-growing trade relationship. The trendline is positive and clearly depicts that both India and Bangladesh have been each other's major markets."

"And there is recognition of the fact, in both countries, that better connectivity, growing prosperity and a less politicized approach to trade and investment creates enormous head-room for growth in trade, investment flows and integrated production chains," he added.

During Prime Minister Narendra Modi's Bangladesh visit in March this year, the two sides had agreed to enhance trade.

In the joint statement, both sides had underscored the need for the removal of non-tariff barriers. Both PM Modi and his Bangladeshi counterpart Sheikh Hasina stressed the need for predictability of trade policies, regulations and procedures.

 
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I researched the matter, and India-BD FDA been at least 20 years in making... with a shifting 1-2 years goalpost.

Trade is unequal to the point of US$60 Billion or so annually in favor of India. One has to ask if we have to bend over even more.

Indians can be ready all they want, ain't happening, if the chamber folks in Dhaka and CTG are any indication.

Greedy bloodsucker Indians need even more, won't be happy before they suck us dry.
 
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Bangladesh is still waiting for 23 million doses of vaccine for which it paid in advance. It's been 7 months since the ban/suspension on export of vaccines by India. How long it's gonna take? India has already administered 1 billion doses. Can't it export vaccine to BD now instead of throwing big fancy statements about win win trade pacts?
 
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Bangladesh is still waiting for 23 million doses of vaccine for which it paid in advance. It's been 7 months since the ban/suspension on export of vaccines by India. How long it's gonna take? India has already administered 1 billion doses. Can't it export vaccine to BD now instead of throwing big fancy statements about win win trade pacts?
I tell you what they should do, they should refund our money back. most of our population is vaccinated now. If they don’t, Hasina the *** kisser should pay out of her pocket to the taxpayer
 
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Bangladesh is still waiting for 23 million doses of vaccine for which it paid in advance. It's been 7 months since the ban/suspension on export of vaccines by India. How long it's gonna take? India has already administered 1 billion doses. Can't it export vaccine to BD now instead of throwing big fancy statements about win win trade pacts?

India's vaccination rate is now coming up, and there may be future production to ship abroad.
The dominant power of vaccine distribution is actually still mainly in the hands of Western countries, and India is a OEM production, without much power of distribution. Something is wrong with the distribution of vaccines, and almost all of the vaccines produced are supplied to high-income countries. Very little is distributed to low-income countries .



Moderna, Racing for Profits, Keeps Covid Vaccine Out of Reach of Poor

Here is a screenshot of the NYT article

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“ About one million doses of Moderna’s vaccine have gone to countries that the World Bank classifies as low income. By contrast, 8.4 million Pfizer doses and about 25 million single-shot Johnson & Johnson doses have gone to those countries. ”


1+8.4+25=34.4 million



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I remember several months ago when some people here were accusing China of not having a global uniform price for vaccines. In order to blame China, even basic logic is ignored.


The price of vaccines has gone up, and that's not good for low-income countries.

Pfizer and Moderna raise EU Covid vaccine prices

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Sounds like a plan to leech of BD's economic growth. I hope gov doesn't sign any pact with this slum of a country.

They have taken enough faida (benefit) for 50 years.

Today the incomplete half-a$$ conservative estimate of them leeching off of us is US$60+ Billion a year. That is how big the trade deficit is.


If it was even $20 Billion a year in the 1970's, that makes it on average $40 Billion a year times 50 years, meaning about $2 trillion altogether which is again a conservative estimate. How long can we keep supporting their stupid economy and bankroll their Hindutva expansion plans?

Enough is enough, put in some strong tariff protection on their goods (mostly FMCG and consumer products which they dump in our market). It can seriously be proven that they are dumping stuff to kill any industrial competition from Bangladesh. Which merits legitimate Non Tariff Barriers (NTB's) regime within WTO rules.

They assign NTB's on Bangladeshi exports to India all the time. I say it's time we returned the favor.
 
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Bangladesh is still waiting for 23 million doses of vaccine for which it paid in advance. It's been 7 months since the ban/suspension on export of vaccines by India. How long it's gonna take? India has already administered 1 billion doses. Can't it export vaccine to BD now instead of throwing big fancy statements about win win trade pacts?
Already started exporting vaccines to neighbors.
 
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Already started exporting vaccines to neighbors.

Yea, just read the news. 1 million doses have been exported to Bangladesh out of 23 million due, deliveries of which were supposed to be completed in July in different phases of 5 million per month(Feb-July). Hopefully this batch of 1 million is not some lollipop and remaining 22 million doses are delivered quickly.
 
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Yea, just read the news. 1 million doses have been exported to Bangladesh out of 23 million due, deliveries of which were supposed to be completed in July in different phases of 5 million per month(Feb-July). Hopefully this batch of 1 million is not some lollipop and remaining 22 million doses are delivered quickly.
Bangladesh already received 10 million doses of vaccines. And we had a situation where we couldn't send vaccines anywhere. Now that is resolved we can restart the exports.
 
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