Bangladesh gains from trade deficit with India: Tofail

Commerce Minister Tofail Ahmed has claimed Bangladesh gains from its trade deficit with India.

He, however, offered no explanation.
 
“The trade deficit with India is not a loss for Bangladesh. Rather it is profitable for us,” he told Parliament in reply to a supplementary question by the ruling Awami League MP Enamul Haque.
 
“It’s possible to reduce the trade deficit with India but it’s impossible to achieve trade balance.”
 
In the first nine months of 14-15 FY, Bangladesh’s trade deficit with India was over $4 billion.
 
During July 2014 and March 2015, Bangladesh imported products worth $4.45 billion while it exported to India products worth $3.96 million.
 
TCB operating 174 trucks
 
Replying to Jatiya Party MP Mohammed Ellias’ query, the commerce minister said the Trading Corporation of Bangladesh (TCB) had been selling products at reasonable prices through 174 mobile trucks during Ramadan.
 

File Photo

He said 25 trucks were selling TCB products in different places of Dhaka City, 10 in Chittagong City, five each in other divisional headquarters, and two each in the rest of 57 district headquarters.

The service would be available until July 16, he said.

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Export stands at $125 billion

Answering to Awami League MP Didarul Alam’s query, Tofail Ahmed said the country exported readymade apparels worth $124.73 billion to 140 countries between January 2009 and May 2015.

BGMEA and BKMEA jointly set a target to raise the export to $50 billion by 2021, he said in reply to a question from ruling party lawmaker Md Mamunur Rashid Kiron.

The government would provide all-out support to help them to achieve the target, he said.

Plans for 19 border haats

The commerce minister, in reply to a question from Mohibur Rahman Manik, said four border haats were operating along the border with India.

The government had a plan to start 19 border markets, he said, adding that the trading through such markets was expanding.

He claimed such markets reduced illegal trade and created employment in the border region.

Ahmed said neither Bangladesh nor India had any scope for earning revenue from the border haats, according to the memorandum of understating signed between them.