Bangladesh CCCI bats for reducing USD 1 bn trade deficit with India

The Chittagong Chamber of Commerce and Industry (CCCI) Wednesday said the huge trade deficit between Bangladesh and India needed to be bridged for which more Indian investments are required by the neighbouring country. Presently, Indian imports from Bangladesh is around USD 7 million, while exports to that country are USD 8 billion.

Chittagong port provides a vital gateway to the seven north-eastern states of India and more border trade was needed between the two nations, CCCI president Mahbubul Alam said. Addressing a session at the Bengal Chamber of Commerce and Industry here, Alam said India had been given land for an exclusive economic zone (EEZ) in Mirsarai near Chittagong where Indian investors could avail the opportunity of a 10-year tax holiday and repatriation of profits back for a similar period. Similar zones were being set up by investors from China, Korea and Japan, he said.