Dhaka ready to export gas to India

By Our Special Correspondent

NEW DELHI, MAY 10. Bangladesh is prepared to export excess natural gas to India. This was disclosed here today by the Bangladesh Commerce Secretary, Mr.Gulam Rahman, who added that the exact reserves of gas in Bangladesh are not being estimated properly.

He said after the assessment it would be possible to find out the domestic needs and surplus available for export to countries like India.

Regarding market access for Bangladeshi products, he said India had given an assurance that duty-free access would be provided in some categories. The Bangladesh authorities have sought duty-free import in 25 categories including jute, newsprint, dry cells and ceramics. This would help in reducing the Rs. 4000 crore trade gap between the two countries, he said.

At a meeting, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here, Mr.Rahman said a proposal to put up a customs office at Benapole-Petrapole border was made. It was primarily to address difficulties faced by businessmen in both the countries over issues relating to classification of goods and duty rates.

Mr.Rahman said Bangladesh would soon be given the status of zero duty access to other countries as it is a least developed nation. India being a neighbour can take advantage of this by using Bangladesh as a base for export to other destinations. He particularly referred to the readymade garment sector which holds considerable promise for export from Bangladesh at zero duty.

Mr.Rahman disclosed that a foreign company would be given the contract for building the port of Chittagong. On public sector disinvestment, he said a draft privatisation law is awaiting approval of the Parliament. Around 50 enterprises have been identified for disinvestment or privatisation. An open tender for disinvestment of 50 PSUs have already been floated by the government.

Bangladesh is interested in getting industrial machinery, raw materials and consumer products from India, he said. But he stressed the need for prompt delivery schedules.

Mr.A.S. Kasliwal, Past President, FICCI said that India- Bangladesh trade has increased phenomenally from $ 300 millions in 1990-91 to over one billion dollars in 1997. Unofficial trade has been estimated to be almost as large as the official trade. There is also a thriving trade in services between India and Bangladesh, he said.

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