Dhaka, Bangladesh (BBN)- Bangladesh can earn at least US$ 1.0 billion a year initially following signing of transit and transshipment treaties with India, the country’s apex body chief said on Wednesday.
President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) AK Azad said Bangladesh will earn this large amount of money from sources including transit fees, port levies, bank commissions, transportations and customs clearing and forwarding charges.
The FBCCI chief said this at a press briefing on transit, transshipment and $1.0 billion finance by India held at its office in Dhaka.
Mr Azad said this (transit and transshipment) will help reduce the country's the trade gap with India, which is heavily in favour of the neighbouring country.
Bangladesh imports goods worth around $3.8 billion a year from India and exports nearly $ 250 million, he added.
FBCCI chief also said India will allow duty-free entry of further 8.0 million pieces of garment from Bangladesh.
Bangladesh has already exported 5.0 million pieces of garment to India as against 8.0 million allowed earlier.
BBN/SI/AD-12Aug10-11:10 am (BST)
