A government official said on Tuesday, December 27 that India and Bangladesh have resolved to start discussions on a free trade agreement (FTA) and bilateral trade in Indian rupees.
He said the two nations have already finished preparing a feasibility study for an FTA and are looking into the possibility of conducting commerce on the basis of rupee transactions.
According to the source, the deal would also take into account eliminating trade restrictions between the two neighboring nations and the free movement of investments across borders.
The problem was already discussed at a meeting between the two nations' trade ministers, he added, and topics included removing non-tariff trade barriers, reopening physical commodities markets at the border, removing port limitations, and improving trade infrastructure.
In 2021–22, it is predicted that India and Bangladesh's bilateral trade would total $18.2 billion.
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