ICC Bangladesh, Indian envoy discuss stronger trade and investment ties

Indian High Commissioner Dinesh Trivedi met ICC Bangladesh leaders to discuss strengthening bilateral trade, investment and regional economic cooperation.

The discussions took place during a meeting hosted by the ICC Bangladesh Secretariat on Monday (3 August), according to a press release, where ICC Bangladesh and Indian High Commissioner Dinesh Trivedi discussed ways to strengthen bilateral trade, investment and regional economic cooperation.

Welcoming the high commissioner, ICC Bangladesh President Mahbubur Rahman highlighted the longstanding friendship and growing economic partnership between Bangladesh and India.

He underscored the need for stronger private-sector engagement to unlock the full potential of bilateral cooperation and promote sustainable economic growth.

Bangladesh and India share one of South Asia's largest trading relationships. Bilateral merchandise trade reached approximately US$11.39 billion in FY2024–25, with Bangladesh exporting goods worth US$1.76 billion to India and importing goods worth US$9.62 billion from India.

ICC Bangladesh President Mahbubur Rahman emphasised the importance of improving market access for Bangladeshi products, reducing non-tariff barriers, harmonising standards and simplifying customs procedures.

He also called for the proposed Comprehensive Economic Partnership Agreement (CEPA) to be concluded at the earliest opportunity to help narrow the trade gap.

The meeting explored opportunities for deeper cooperation in investment, regional value chains, multimodal connectivity, renewable energy, cross-border power trade, digital commerce, fintech, artificial intelligence, climate finance, sustainable manufacturing, healthcare, education and skills development.

Mahbubur also stressed the importance of revitalising regional cooperation through Saarc, expediting the implementation of the Bangladesh-Bhutan-India-Nepal Motor Vehicles Agreement and advancing practical cooperation under Bimstec.

He said these initiatives could enhance connectivity, reduce logistics costs and strengthen regional supply chains.

Mahbubur reiterated the need to resolve anti-dumping measures affecting Bangladeshi exports, particularly jute and jute products, and called for continued dialogue to ensure fair and transparent trade remedies.

Addressing the meeting, High Commissioner Dinesh Trivedi said that Bangladesh and India possessed all the elements required to emerge as global economic powerhouses.

He said the two countries had exceptional strengths in innovation, education, healthcare, and human capital, stressing that these advantages should translate into stronger economic cooperation and sustainable development.

The high commissioner said many longstanding bilateral issues could be resolved through sustained engagement and dialogue at the highest political level.

He also emphasised the indispensable role of the private sector in driving economic growth, investment and employment, noting that businesses formed the foundation of a stable and prosperous economy.

Dinesh highlighted opportunities to establish joint-venture industries in border areas, saying such initiatives could strengthen regional value chains, attract investment and create employment.

Reaffirming the High Commission of India's commitment to supporting the business community, he encouraged Bangladeshi entrepreneurs and investors to approach the mission whenever they encountered challenges in expanding bilateral trade and investment.

During the interactive discussion, ICC Bangladesh Vice-President Naser Ezaz Bijoy emphasised the importance of facilitating business travel and called for further improvements in the issuance of business visas to strengthen commercial engagement between the two countries.

ICC Bangladesh Executive Board Member Simeen Rahman highlighted opportunities to expand bilateral cooperation in trade, business, healthcare, medical services and tourism.

She said India was home to many globally recognised companies and institutions, creating significant scope for stronger partnerships and greater people-to-people and business-to-business collaboration.

ICC Bangladesh Executive Board Member Abdul Hai Sarker expressed optimism that many longstanding bilateral trade and business issues could be addressed during the new high commissioner's tenure, paving the way for stronger economic cooperation between the two neighbouring countries.

Speaking on behalf of the business community, ICC Bangladesh reaffirmed its commitment to promoting stronger business-to-business cooperation through joint business councils, CEO forums, SME collaboration, start-up exchanges, investment missions and technology partnerships.

Concluding the meeting, ICC Bangladesh President Mahbubur Rahman expressed the organisation's commitment to working closely with the High Commission of India and ICC India, under the Federation of Indian Chambers of Commerce and Industry, to strengthen economic collaboration and promote a more prosperous, sustainable and mutually beneficial future for both countries.

ICC Bangladesh Executive Board Member Tapan Chowdhury, Indian Deputy High Commissioner Pawan Kumar Badhe, High Commission of India Second Secretary for Economic and Commerce Gourab Kumar Agarwal, ICC Bangladesh Secretary General Ataur Rahman, General Manager Ajay Bihari Saha and Deputy General Manager Syeda Shahnewaz Lotika also attended the meeting.