Bangladesh has taken the initiative to launch a comprehensive economic partnership agreement with India to reduce import dependence, boost exports and address trade imbalance, the former’s parliament was told.
The country is pursuing policies to develop domestic industries, expand the production of import-substitute goods and encourage the import of essential raw materials and capital machinery.
This was revealed by State Minister for Commerce Shariful Alam while replying to questions in parliament meant for Muktadir, who was absent.
Bilateral trade between the two nations stood at $11.39 billion in fiscal 2024-25 (FY25), of which Bangladesh’s exports were worth $1.76 billion.
The proposed Import Policy Order 2026-2029 stresses on enhancing the competitiveness of domestic industries, ensuring the efficient use of foreign currency, and making import management more transparent, modern and business-friendly, Alam noted.
Bangladesh now has trade agreements with two countries—Bhutan, signed on December 6, 2020, and Japan, signed on February 6, 2026, the parliament was informed.
The country exported 812 products to 202 destinations worldwide in FY25. These exports generated $44.17 billion, accounting for 91.48 per cent of the total export earnings, domestic media outlets reported.
Fibre2Fashion News Desk (DS)
