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BIMSTEC for duty-free trade among member states |
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April 29, 2000 Dhaka, Apr 28 (UNB)- Bangladesh expects quick decision from India about duty-free market access of 25-category items as per a commitment made by Indian Prime Minister during his Dhaka visit last year. Commerce Minister Abdul Jalil, who returned home from Delhi meeting of BIMSTEC trade ministers, said his Indian counterpart, Murasoli Maran, assured him of taking a decision ‘shortly.’ Bangladesh identified 191 items under 25 categories for duty-free access to Indian market and the list was sent to India months ago. Earlier, the Gujral administration had offered 50-percent duty concession for 216 Bangladesh items, 171 of which have been enjoying the facility and the rest 39 will also be given the rebate, Jalil told newsmen, conveying Maran’s assurances. Transshipment issue also came up in the bilateral talks of the two ministers. “We have told (them) that we are awaiting expert reports on it and will like to go through it as it entails various implications,” the Bangladesh minister told reporters at the airport on his return. An expert committee, comprising two locals and two foreigners, are studying the feasibility of giving transshipment to India while the Task Force is likely to place its reports on the issue soon, he informed. Jalil referred to Indian customs hassles for export of Rahimafrooz battery, garments, raw jute and jute goods from Bangladesh and said Indian minister had assured of looking into the matters. BIMSTEC ministers have decided to create a free-trade area within the region to promote inter-state trade and investment. Five commerce ministers of the region in their Delhi meet formed an inter-government study group which will report in six months for final decision in the next ministerial meeting next year, likely in Myanmar or Sri Lanka. The Commerce Minister briefed newsmen at the airport on his return from the second ministerial meeting of Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation in Delhi. Visa system and inter-country banking transactions will be eased and customs hurdles removed to accelerate business activities among the member countries. A working group of customs officials of BIMSTEC countries will be formed to identify trade barriers and prescribe measures while central banks will meet to make easier way for improving bank services, Jalil said. All these issues will come up for detailed discussions in the secretary-level meeting scheduled for May 10 in the Indian capital. To facilitate more interactions among business communities of the member countries they have decided to allow 20 top businessmen-industrialists of each country to visit without visa in the region. Arrangements will also be made for fast-track visa services for all prospective businessmen and investors, he informed.
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