India Lowered Import Tariffs On Some Garments In Bangladesh
India's prime minister Singer ended his 2 day historic visit to Bangladesh in September 7th this year, the first visit by India's prime minister to Bangladesh since 1999. The two countries have signed a number of bilateral cooperation agreements and memorandums, including India's zero import tariffs on some textile and clothing products in Bangladesh.
When Premier Singer visited Bangladesh, he announced that the India government fully understood the two countries.
Trade imbalance
Problem.
India has adopted a series of measures to promote the export of Bangladesh products to India and more open markets in India and other neighboring countries.
In India, according to the South Asian Free Trade Agreement (SAFTA)'s list of tariff reductions in Bangladesh, Bangladesh presented 61 products lobbying with priority reduction, of which 46 were textiles and clothing products.
Bangladesh also wants India to solve the problem of Bangladesh's export of goods to India in the border area and its bureaucracy.
Despite the fact that Anand Sharma, Minister of Commerce and textiles of India, offered some tariff free imports of textiles and garments in Bangladesh,
India textile
Manufacturers have little impact, but India's textile industry is still concerned about the impact of the industry, especially because Bangladesh usually enjoys lower production costs.
Government officials in India say that trade liberalization with Bangladesh will be a real impetus to the 8 countries in India and South Asia.
Economic Alliance
The beginning.
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