Industries Minister Dilip Barua yesterday urged the Indian entrepreneurs to invest more in Bangladesh, saying that a liberal investment policy for the foreign investors prevails here.
Barua said this while addressing the inaugural session of the second India-Bangladesh Trade Fair-2011 at Sonargaon Hotel in Dhaka.
"Our vision is to make an industrialised Digital Bangladesh by 2021. In order to materialise our dream, we have been pursuing a liberal investment and industrial policy for the foreign investors with attractive incentive packages," the minister said.
"I firmly believe, the Indian investors will come forward to invest in Bangladesh, which is a suitable place for investment," he added.
India Bangladesh Chamber of Commerce and Industry (IBCCI) with the support of Indian High Commission in Dhaka is organising the three-day trade fair to showcase the products of the two neighbouring countries.
Barua also urged the Indian government to simplify visa regime for Bangladeshi businesses and issue four-month multi-entry visa to help boost trade relations between the two next-door neighbours.
The industries minister proposed a 'free market zone' with zero tariff facility for the Saarc member countries and uphold the spirit of Safta for sustainable regional development and cooperation as well as for the betterment of the common people.
Addressing the function as a special guest, Mizoram's Minister for Industries S Haito said: "There is no insurgency in Mizoram. Bangladesh can safely invest there. Our government will ensure all-out support in this regard."
He said launching border trade would ensure trading to meet the requirements of both sides.
AK Azad, president of the Federation of Bangladesh Chambers of Commerce and Industry, said Bangladesh's export to Indian market did not increase as expected due mainly to poor negotiations from the Bangladesh side.
"It's our failure. We have failed to showcase our competitive commodities in a lucrative manner in the Indian markets. We'll have to explore our opportunities there. Nobody will offer us a ready market."
He urged the Indian government to facilitate Bangladeshi entrepreneurs so that they can invest in Bhutan to produce hydro-electric power.
Rajeev Singh, director general of Indian Chamber of Commerce, said, "As Bangladesh suffers from electricity shortages, the government can persuade the Tripura government to sell 200 megawatt of electricity next year."
He said the recent decision of the Indian government to increase duty-free access of RMG products to India will boost Bangladesh's export.
Singh proposed the third edition of the trade fair be held in Kolkata, saying it is a nice place to host an event like this.
IBCCI President Abdul Matlub Ahmed said exports to India have started growing and he hoped that it would cross half a billion taka this year.
Forty stalls of different manufacturers and exporters from Bangladesh and India are showcasing their products at the three-day show that will remain open for visitors from 10am to 8pm with an entry fee of Tk 20.
Source: The Daily Star (May 5, 2011)
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