India wants to work very closely with Bangladesh to exploit sea resources in the best possible way for enormous economic benefits of the two countries and create a ‘secure and sustainable’ Bay of Bengal and beyond.
“Certainly, I think, that is a sort of cooperation we want to see,” said Indian High Commissioner to Bangladesh Harsh Vardhan Shringla on Wednesday.
He mentioned that Bangladesh and India reached an amicable settlement of the maritime boundary between the two countries that opened up ‘enormous potential’ of cooperation on blue economy.
The High Commissioner was speaking as the chief guest at the annual conference of the International Business Forum of Bangladesh (IBFB) in a city hotel.
Former Bangladesh Bank governor Dr Mohammed Farashuddin, immediate past FBCCI President Abdul Matlub Ahmad, founding president of IBFB Mahmudul Islam Chowdhury and current president Hafizur Rahman Khan also spoke on the occasion.
Earlier, Dr Farashuddin talked about the potential of exploiting seabed resources and mentioned that India can take the leadership in exploiting ‘very rare and precious’ creators in the deep seawater.
“If can do that, I think, we’ll make a quantum jump in terms of prosperity and wealth accumulation,” he said.
About connectivity, High Commissioner Shringla said both Bangladesh and India can be benefitted enormously with greater connectivity and linkages.
“As we open up with greater linkages I think our opportunities to multiply in many folds.”
The High Commissioner said the impediments of the relationship, in a sense, have been overcome and there are still some which are on the table. “We hope all of these will be addressed sooner rather than later.”
Matlub Ahmad talked about non-tariff barriers between Bangladesh and India and said, “Non-tariff barriers may be there but India will resolve those various if the specific barriers are pointed out.”
Expressing satisfaction over Indian investment to Bangladesh, he said the idea is to produce here and re-export to India and other destinations from Bangladesh.
The former apex trade body chief laid emphasis on exploring new export destinations and expanding export basket to boost overall export from Bangladesh.
Some 13 agreements were signed with Indian public and private sector companies during Prime Minister Sheikh Hasina’s New Delhi visit on April 7-10.
These deals will bring in US $10 billion in new investments to Bangladesh in power, energy, logistics, education and medical sectors.
IBFB president Hafizur Rahman urged the Indian High Commissioner to take effective measures to minimize the existing trade deficit and remove non-tariff barriers to lead Bangladesh-India relationship to the next level of excellence.