India and Bangladesh announces measures to boost trade.

Posted By: Religare
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India and Bangladesh
India and Bangladesh on 23rd April, 2011 has announced various measures to develop trade and economic cooperation among the two neighbouring countries.

As a part of the measures, India has raised a tariff-free quota of 10 million pieces of apparel exports from Bangladesh, which has been increased by 25% to 10 million pieces as compared to the previous year"s figure of 8 million, said Indian Commerce Minister, Anand Sharma. Besides, India has also decided to discontinue the countervailing duties on all jute exports from Bangladesh.

Additionally, Sharma informed that the governments of India and Bangladesh, India will export 500,000 tonnes of grains to Bangladesh.

In a joint news conference held in Dhaka, Sharma said that, India Is prepared itself to ship 300,000 tonnes of parboiled rice and 200,000 tonnes wheat to Bangladesh.

Trade between both the countries have improved significantly in recent times, Bangladesh"s exports have increased 6 times during the last few years and in the first three quarters of the current year, it has touched US$ 359 million that grew from US$ 304 million in the previous year.

Read more about: bangladesh, rice, wheat
Story first published: Monday, April 25, 2011, 12:30 [IST]
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