Bangladesh-Burma agree to raise two-way trade

Dhaka, Bangladesh: The Joint Trade Commission (JTC) meeting was held in Nay Pyi Taw, Burma during January 14-15, 2014, according border trade committee statement.
Bangladesh and Myanmar at the just-concluded 7th (JTC) meeting have agreed to raise the two-way trade to $ 500 million from $100 million now.

Mohabub Ahmed, Bangladesh commerce secretary led the Bangladesh delegation comprised officials from the concerned ministries, including ambassador of Bangladesh to Burma Anup Kumar Chakma and leaders of business chambers including FBCCI president Kazi Akram Uddin.

From Burma side, a 43-member delegation was led by Pwint San, deputy Minister for commerce of Union of Burma.

The main intention of the meeting is to increase bilateral trade between Bangladesh and Burma.

In the meeting the issues were discussed such as — border trade, cooperation in agriculture, food, fisheries, power and mineral resources sectors, shipping arrangement, exchange of business delegation, participation in trade fairs, popularizing business through letter of credit, exploring possibility of reducing duty on certain products under PTA and finalization of bilateral investment agreement.

In the meeting, Mahbub Ahmed highlighted the importance of connectivity and expressed satisfaction over completion of air service and operation of flight between Dhaka-Rangoon-Dhaka and finalization of the draft of shipping agreement between the two countries.

Moreover, he stressed the establishment of road connectivity. He also drew attention to the fact that as demand growth of the developed countries likely to remain weak in few more years’ greater weight needed to be put on regional trade.

The JTC meeting also decided to form two joint-working groups, one on cooperation in agriculture and another on cooperation in the fisheries sector.

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