Press Information Bureau

Government of India

Ministry of Commerce & Industry

17-December-2012 16:44 IST

India-Bangladesh bilateral trade for last 3 years, including current year:

(Value in US $ Million)

Source-DGCIS

India has reduced its Sensitive List for the Least Developed Countries (including Bangladesh) under the South Asian Free Trade Area Agreement (SAFTA) from 480 tariff lines to just 25 tariff lines.  Zero basic customs duty access has been given to all items removed from the sensitive list. Commensurately, Bangladesh has also reduced its SAFTA sensitive list for non-LDCs (including India) from 1241 tariff lines to 993 tariff lines (20% reduction). Both Governments have taken necessary steps to improve physical infrastructure for greater bilateral trade facilitation. 

Both sides have taken steps to reduce tariff and non-tariff barriers to bilateral trade. To enhance bilateral trade, an ‘India Show’ was organized jointly by the Government of India and the FICCI at Dhaka, Bangladesh from December 3-5, 2012 to increase the future trade and investment opportunities.

This information was given by the Minister of State for Commerce & Industry Dr. D. Purandeswari in written reply to a question in Lok Sabha today.

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DS/RK

SAFTA sensitive list reduction expands zero-duty market access, promoting bilateral trade facilitation and tariff barrier reduction. Under SAFTA, India reduced its Sensitive List for Least Developed Countries, including Bangladesh, and granted zero basic customs duty access on items removed from that list; Bangladesh reciprocally reduced its sensitive list for non-LDC partners. Both governments have taken steps to reduce tariff and non-tariff barriers and to improve physical infrastructure for bilateral trade facilitation, and organised a joint trade promotion event in Dhaka to enhance future trade and investment opportunities.