After India banned Bangladeshi exports through the port, the interim government of Bangladesh has said that it wants to resolve all trade issues with India. The advisors of the interim government led by Nobel laureate Muhammad Yunus said that Bangladesh wants to discuss all issues with India.
India recently banned the road import of ready-made garments (RMG), fruits and fruit-flavoured and carbonated beverages, baked goods, snacks, chips and confectionery, cotton and cotton yarn, plastic and PVC ready-made goods and wooden furniture from Bangladesh.
Earlier, Bangladesh had banned the import of yarn from India by land. India also canceled the trans-shipment facility to export goods from Bangladesh to third countries. Relations between the two neighboring countries have soured since mutual trade restrictions were imposed.
'We do not know anything formally about India's move . We will be able to take action only after we know formally . If any problem arises, both sides will discuss and try to solve it," Sheikh Basiruddin, commercial adviser to the interim government of Bangladesh, told reporters.
Through social media and news, he said that India has taken some decisions regarding land ports (especially Akhaura and Dawki ports) and some border areas . Our main goal is to achieve competitiveness. This is a beneficial issue for both countries, he said.
Stating that India itself is a rich country in textile industry, Basiruddin has claimed that the export of such products from Bangladesh to India is based on the capacity of his country. "Since we are a geographically connected country, our competitiveness, transport costs and other factors are certain," he said. This is a process of business management and we are working on it, if there is a problem that arises or develops, both parties will discuss and try to resolve it.'
He says that trade is important for Bangladesh and he believes in liberal trade. "I don't see any other way to empower Bangladeshi businesses and consumers except business inclusion," Basiruddin said.
On Saturday, the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry of India issued an immediate ban on the import of various categories of goods from Bangladesh at Sthal port.
According to the Global Trade Research Initiative (GTRI), India's ban on imports from Bangladesh through land ports will affect goods worth 77 million US dollars. This is about 42 percent of total bilateral imports . The move will restrict the entry of products such as ready-made garments and processed foods at specific ports, an official press release from the ministry said.
This is widely seen as a response to Bangladesh's recent ban on Indian yarn, rice and other goods. According to the new guidelines, all types of ready-made garments from Bangladesh can now be imported only through Nav Sewa and Kolkata sea ports.
