Commerce ministry seeks cabinet nod

The ministry of commerce on Thursday sent a proposal to the Cabinet Division seeking amendments to the bilateral trade agreement with India for approval after the law ministry had vetted the proposed changes.
‘We will move to sign the amended trade agreement with India after the cabinet at its meeting on Monday clears the instrument,’ additional secretary Manoj Kumar Roy told New Age on Thursday.
Manoj said two amendments had been proposed in the agreement—one for using Indian territory to carry goods from Bangladesh to Nepal and Bhutan and the other for extension of the agreement’s tenure from current three years to five years.
‘We are hopeful of getting approval from the cabinet meeting as the amendments would bring positive outcome for the country’s export sector,’ he said.
New Delhi on Tuesday agreed to a proposal from Bangladesh on inclusion of providing transit facility in the current Indo-Bangla bilateral trade agreement for ferrying goods from Bangladesh to Nepal and Bhutan using Indian territory.
Dhaka in the middle of last month proposed to India for bringing about changes in the agreement before it is renewed and provides Bangladesh transit facility in the agreement, similar to that of India enjoying the facility for carrying its goods from one Indian state to another through Bangladesh territory.
Article 8 of the India-Bangladesh trade agreement said, ‘The two governments agree to make mutually beneficial arrangements for the use of their waterways, railways and road ways for commerce between the two countries and for passage of goods between two places in one country through the territory of the other.’
A trade expert in the commerce ministry said words like ‘for passage of goods between two places in one country through the territory of the other’ included in the trade agreement had so far been used only in India’s interests and not in the interest of Bangladesh.
The current trade agreement between the two countries has 13 clauses outlining broad trade policies including transit.
Trade experts in the commerce ministry said a modus operandi would be needed to be prepared to effect the transit facility for both the countries.
Commerce secretary Hedayet Ullah Al Mamun could not be contacted for his comments as he is now on a official tour in Geneva.