India should resolve all issues on tariff and non-tariff barrier with Bangladesh: Tripura CM tells BIMSTEC summit

India’s Tripura state Chief Minister Manik Sarkar has asked the federal government to resolve all pending issues relating to tariff and non-tariff barriers between India and Bangladesh to boost regional trade.

Sarkar made his comment in the presence of dignitaries from various BIMSTEC countries and after inaugurating the day-long ‘Integrating BIMSTEC Summit’ at Pragya Bhavan.

The summit was organised by the Indian Chamber of Commerce jointly with Ministry of External Affairs, Government of India in commemoration of the 20th year of BIMSTEC.

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation involving a group of seven countries in South Asia and South East Asia -Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.

Sarkar in his addressed said, “We have to resolve all pending issues related to tariff and non-tariff between India and Bangladesh to boost regional trade between the two nations. The Prime Minister of Bangladesh is scheduled to visit India early next month and India should use this as an opportunity to resolve all pending issues.”

The main agenda discussed was the regional integration of the region through new connectivity and reviving the multi-modal connectivity which once existed in the region but due to geopolitical reasons had shut down.

During the discussion, the speakers stressed on India’s Act East Policy and South Asia Sub-regional Economic Cooperation (SASEC).

They viewed that in multi sub-regional forums in South and South East Asia, India-Bangladesh-Myanmar being the fulcrum and windows of the region and thus occupy centre stage in the effort to integrate the entire region for inter-related growth dynamics through cooperation in various fields.

The forum discussed on the project-based partnership that aims to promote regional prosperity, improved economic opportunities, boosting intra-regional trade and build a better quality of life for the people of the sub-region.

Prashant Agarwal, Joint Secretary, Ministry of External Affairs, Government of India said, “BIMSTEC is a unique grouping because several of our key policy objectives which are Our Neighborhood First Policy, our Act East Policy and also a policy to promote development in the Northeast. Through BIMSTEC our overlying objective is to achieve these policies.”

He added: “In BIMSTEC the role of Tripura and other Northeaster states will be vital as we have borders with Bangladesh, Myanmar, Nepal and Bhutan and a maritime border with Thailand as well, so connectivity in various forms is planned to be enhanced under BIMSTEC.”

The Ministry of External Affairs official informed, “14 priority areas have been identified under BIMSTEC and transport, and communication is one area where India is on lead. India is also on the lead in the sector of tourism.”

“We are in the process of working on a BIMSTEC motor vehicle agreement for seamless movement of goods and transports across BIMSTEC. We are also working out on shipping agreement across the BIMSTEC states and arrangement for grid interconnection to trade electricity and in Tripura you have power being exported to Bangladesh.”

Meantime, Dr K Yhome Observer Research Foundation (ORF) fellow on Neighbouring Regional Studies Initiative said, “This sub-region is actually at the crossroad of three major markets. South Asia in one hand, South East Asia on the other and China in the north or let’s say the East Asia market.”

“Therefore, if the Northeast (India), Bangladesh and Myanmar could become a connectivity hub that connects these markets then we are going to see a different dynamics where logistical facilities are going to redefine, reconceptualise regions and sub-regions.”

He added, “We are going to see how these emerging corridors are going to reshape our understanding and concept of the region because the way they are building up connecting new places and new markets is building an understanding of new regions itself.” 

The forum also discussed on South Asia sub-regional economic cooperation to bring together Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka in the project-based partnership aimed towards promoting regional prosperity, improved economic opportunity and build a better quality of life for people of the sub-region.