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Delhi has assured steps to reduce trade gap : Saifur

By Staff Correspondent
Finance Minister M Saifur Rahman Friday said that he impressed upon hla Indian counterpart Manmohan Singh to Introduce a more liberal trade regime in respect of Bangladesh to help reduce the huge deficit In bilateral trade.
Talking to newsmen at the Zia International Airport on his return from a 4-day visit to India. the Finance Minister added that he had also asked Singh to reciprocate in dismantling the existing trade barriers by reducing the duty structures and withdrawing Import restrictions on Bangladeshi goods and services. which Dhaka had already implemented allowing unhindered entry of Indian goods.
Rahman said these steps were necessary to narrow the 1,3 billion US dollars In cumulative deficit. against Bangladesh, in bilateral trade between the two nations.
Terming the visit, at the invitation of the Indian Finance Minister as "very fruitful." Rahman noted that Singh "Went out of the way to be very cordial" during the meeting. The Indian government Is very sincere In wanting to cooperate with us." he added.
The Finance Minister also conveyed Bangladesh's concern over the large trade Imbalance with India while noting that Bangladesh Imports nearly eleven times more, worth about Taka 800 crore a year, than 1t exports to India.
"What we arc asking them to do is reciprocate our gesture and liberalise trade and lower tariffs on Bangladeshi goods and services." he explained.
He said India could import fertilizer, newsprint, sarees and other Items from Bangladesh to reduce the trade gap
The Indian Finance Minister assured him. Rahman pointed out. of taking steps to reduce the trade imbalance between the two neighbouring countries. Singh also emphasised the need for'opening the economies of both countries upwards each other for mutual benefit.
In his talks with Singh In New Delhi. Rahman said, they also exchanged views on eco nomlc cooperation and the fl nanr lai sector reforms and lib realisation programmes currently being pursued by both nations
During the visit Io India the Finance Minister also called on President Shankar Dayal Sharma and held talks with West Bengal Chief Minister Jyotl Basu. Indian State Minis ter for Commerce and Industry PJ Kurten and Deputy Chairman of the Indian Planning Commission Pranab Kumar Mukharjee
He said he urged the Indian leaders to help develop a system of collective self reliance
among the SAARC nations. He stressed the need for a more action-oriented. Instead of a memorandum-oriented, coop eratlon between the SAARC members.
Rahman noted that he told a questioner at a Calcutta press briefing that Bangladesh was not in a position to supply natural gas to India as reserve is much less even to meet the Internal demand
Keen Interest was shown In West Bengal for Importing Hllsa fish from Bangladesh, he said.
The Finance Minister also addressed a group of Indian businessmen at a meeting organised by the Delhi. Punjab and Haryana Chambers of Commerce and Industry In New Delhi and held discussion with representatives of the confederation of Indian Indus-
—UX