Indian businesses to invest $9 billion in Bangladesh

Indian businesses will make investments of $9 billion in Bangladesh.

The country's private sector has signed several deals with Bangladeshi companies during Prime Minister Sheikh Hasina's visit, says the India-Bangladesh joint statement.

"Both sides have expressed satisfaction over the growth of trade and investment in the recent years," it reads.

The statement said the two prime ministers stressed the need to remove trade barriers, including port restrictions to facilitate trade.

India has promised to look into the matter of antidumping duties on jute shipments from Bangladesh while Dhaka said that it will consider the request over 'Minimum Import Price' of certain products from India.

Modi and Hasina have also instructed officials to expedite the process of setting up Indian Special Economic Zones in designated locations across Bangladesh, according to the joint statement.

The countries also agreed to upgrade infrastructure of land customs stations and ports in a 'coordinated manner to further facilitate the flow of goods and people across the borders.'