INDIA- BANGLADESH BILATERAL TRADE SET TO CROSS $10 BILLION

“INDIA- BANGLADESH  BILATERAL TRADE

SET TO CROSS $10 BILLION” - CWBTA

THE CONFEDERATION OF WEST BENGAL TRADE ASSOCIATIONS (CWBTA) PLANS TO SET UP “BHARATIYA SHOWCASE” - A NEW CONCEPT TO BOOST TRADE WITH BANGLADESH AND BEYOND. CWBTA AND INDIA-BANGLADESH CHAMBER OF COMMERCE AND INDUSTRY (IBCCI), THE TWO LEADING TRADING ORGANIZATIONS OF EASTERN REGION, TODAY ORGANIZED “CWBTA INDIA-BANGLADESH BUSINESS EXCELLENCE AWARD 2018” TO FELICITATE EXCEPTIONAL PROFESSIONALS IN TRADE AND MEDIA.

The first “CWBTA India-Bangladesh Business Excellence Award 2018” was inaugurated by Hon’ble Minister, Janab Firhad Hakim, here today at a function in the presence of leading trade bodies of India and Bangladesh and other dignitaries. The Award, organized by the Confederation of West Bengal Trade Association (CWBTA) and India-Bangladesh Chamber of Commerce & Industry (IBCCI), felicitated professionals for excelling in promoting bilateral trade and friendship between India and Bangladesh. Ten professionals, five from business and trade and five journalists were felicitated on the occasion. In a rare gesture, an eminent Bangladeshi journalist and author, Ms Shamima Akhtar, was awarded for her efforts to promote India-Bangladesh friendship. Her book was also launched at the event.

The India-Bangladesh bilateral trade, which is at an all-time high at present, is set to cross US $10 billion in 2019 according to Mr Sushil Poddar, President, CWBTA. Market feedback from India-Bangladesh Chamber of Commerce & Industry (IBCCI), President, Mr Abdul Matlub Ahmad, confirmed these findings. The growth potential is, however, far higher.

“CWBTA will set up Bharatiya Showcase – a new trade promotion concept. Though India exports US $7 billion worth of goods and services to Bangladesh, there is not a single place to showcase India’s export product basket. The Bharatiya Showcase would be a permanent centre displaying all products exported to Bangladesh in all its varieties, specifications and details. Bangladeshi importers can see these products under one roof and initiate business to business (B2B) deals. This concept would be expanded by adding sections displaying country-specific export items, starting with Nepal, Bhutan, Myanmar and beyond,” said Mr Sushil Poddar, President, CWBTA.

CWBTA and IBCCI will work together proactively to boost trade between the two countries and also the regional trade. Trade delegations would visit Bangladesh and India on a regular basis. “With major Indian companies starting operations and India investing in various infrastructure sectors in Bangladesh, the overall trading scenario is on the cusp of a major growth. With additional capacity building the bilateral trade would increase exponentially,” Mr Poddar said.

“We are encouraging people-to-people contact and IBCCI and CWBTA. The `Bharatiya Showcase’ concept can play a very positive role in boosting Indo-Bangla trade. India is the second largest partner for importing goods and services in Bangladesh,” said Mr Abdul Matlab Ahmad, President of India-Bangladesh Chamber of Commerce & Industry (IBCCI). India-Bangladesh bilateral trade stands at US $7.5 billion at present which is an 11 per cent rise.

Ten leading professionals namely, Mr Khalid Aizaz Anwar, Mr Prodiptto Majumder, Mr Harbhajan Singh, Mr Subir Ghosh and Mr Alamgir Kabir were awarded “CWBTA India-Bangladesh Business Excellence Award 2018” for excelling in trade while five journalists, Ms Shamima Akhtar of Bangladesh, Mr Ambar Mukherjee, Mr Snehasis Sur, Mr Uditprasanna Mukherjee and Mr Tarkeshwar Mishra were felicitated for their contribution toward promoting trade and India-Bangladesh friendship.