Kolkata, May 18 (Inditop.com) The trans-shipment agreement between India and Bangladesh to facilitate trade could be in place in the next three to four months, the India-Bangladesh Chamber of Commerce and Industry (IBCCI) said here Tuesday.
“Things are in advanced stage and the trans-shipment agreement will be a reality in the next three to four months,” IBCCI president Abdul Matlub Ahmad said.
He was speaking at an interactive session between the Bengal National Chamber of Commerce and Industry and the Bangladesh High Commissioner to India.
Ahmad said joint secretary level talks were now being held between the two countries to sort out issues like taxation, insurance and customs.
The policy level decision was taken during Bangladeshi Prime Minister Sheikh Hasina’s meeting with Indian Prime Minister Manmohan in New Delhi in January.
Trade between the two countries has been constrained by the lack of trans-shipment facilities. For example, tea from Assam travels 1,400 km to the Kolkata port whereas the distance could be curtailed by 60 per cent if access to Chittagong port was available, says a study.
Also, goods from Agartala travel 1,645 km to Kolkata, while the distance would be 350 km if Bangladesh allows through-movement.
Opening up access through Chittagong port could could also lead to possibilities of increased investment by India in Bangladesh.
The agreement would help Oil and Natural Gas Corporation’s power project in Tripura if Ashuganj becomes one of the trans-shipment point.
