Indian High Commissioner for signing CEPA with Bangladesh, The Comprehensive Economic Partnership Agreement (CEPA), which both India and Bangladesh have agreed to negotiate, must be signed, according to Indian High Commissioner to Bangladesh Pranay Verma. The High Commissioner also emphasized the significance of its potential to improve supply chain connections and bilateral trade and investment ties by developing new institutional frameworks.
Indian High Commissioner for signing CEPA with Bangladesh
According to a news release today, Verma had these ideas while speaking with prominent businessmen in Bangladesh yesterday. In order to realize the full potential of the economic collaboration made possible by the rapid economic development of both India and Bangladesh, he underlined the significance of improved trade infrastructures and border connectivity.
The Indian High Commissioner emphasized the importance of decongesting ICP Petrapole-Benapole in this context by enhancing infrastructure at other land ports and increasing the number of ports that are not subject to restrictions, which would in turn encourage investments in land ports. The need for increased co-operation, integration, and multimodal connectivity of the sub-region through land, rail, inland waterways, and coastal shipping was another topic covered by the High Commissioner.
In his statement, Verma emphasized the expanding economic cooperation between the two nations, which has considerably improved bilateral ties under the astute leadership of Bangladeshi Prime Minister Sheikh Hasina and Indian Prime Minister Narendra Modi. In the last five years, the two countries’ commerce has more than doubled, and in the most recent fiscal year, Bangladesh’s exports to India reached about $2 billion, making India its top Asian market. Top business executives and directors of Bangladesh’s business chambers attended the interactive sessions. The event was also attended by a delegation from the Society of Indian Automobile Manufacturers (SIAM), which is on a visit to Dhaka.