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Dhaka, Delhi to fix free trade framework

India asks Bangladesh to draw list of products

STAFF CORRESPONDENT
Bangladesh and India will exchange commerce delegations to set a framework for free trade.
India has asked Bangladesh to prepare a list of 1,000-1,200 products which can be considered under the free trade regime, Finance Minister M Saifur Rahman said yesterday on his return from New Delhi, ending a four-day tour. "Similarly, India will also draw a list of products."
Saifur said if a free trade agreement can be signed, Dhaka's trade gap with Delhi will reduce. But at the same time, Bangladesh has to
find new export products to reap the benefit.
India has made it clear that Bangladesh has every right to decide what it wants to do with its gas resource, he said.
Saifur and Indian Finance Minister Jaswant Singh discussed
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bilateral trade gap, regional economic prospect and other issues of mutual interest. He also met Indian Prime Minister Atal Bihari Vajpayee yesterday.
BSS reports that Saifur and Vajpayee discussed increased bilateral cooperation and exchanged ideas on politics.
The finance minister said rail transit came up for discussion and he told the Indian premier that it could be implemented after rehabilitating the railway in Bangladesh.
Talking to journalists at Zia International Airport, Saifur said the Indian finance minister has proposed formation of a joint working group to sort out transportation and infrastructure problems at borders to facilitate trade.
"I believe free trade should be introduced between us to cope with the global trend," said Saifur. "India wants to give some trade concessions to Bangladesh because it feels that without such benefits, it would be difficult for them to sell their products here."
He said his trip was aimed at improving ties between the two countries and termed it "successful".
"We had been facing some hitches for quite some time. All misgivings have been removed now and if good relations exist at the leadership level, all smaller irritants
can be easily resolved," Saifur said.
"I have found a genuine desire among the Indian top businessmen and politicians to maintain good relations with Bangladesh. I think our people should be steered toward a similar sentiment. This trip has helped us overcome our historical mindset," said Saifur.
He said he has invited Vajpayee to visit Bangladesh and the Indian premier said he would consider it.