The New Nation - Internet Edition

BSS, Dhaka

President of the Metropolitan Chamber of Commerce and Industry (MCCI) Latifur Rahman yesterday reiterated the demand for immediate removal of ban on Bangladeshi investments in India.

He took up the issue with the visiting members of an investment delegation of the Confederation of Indian Industries (CII) at a meeting at the MCCI conference room here, saying, "It should be two-way business." "In a similar meeting here a couple of months ago, the Indian High Commissioner assured that the issue was under review and the ban would be withdrawn shortly," he said adding, "We look forward to hearing the decision."

The Indian side led by Shreekant Somany laid emphasis on the easier connectivity of goods and passengers between the two countries and said many Indian investors are ready to put money in various productive sectors and services.

They said some investment proposals are already on the table and delaying decisions is only giving wrong signals. It is time to move ahead with investment projects and expansion of economic relations in all fields, they said.

Past presidents of MCCI, its directors and Indian High Commissioner Pinak R Chakrabarty were present.

The members of the delegation also had one-to-one meetings with Bangladeshi businessmen to explore common ground of investment interest.

Latifur Rahman urged the Indian delegation for taking effective steps to remove the staggering trade imbalance and said removal of non-tariff barriers would alone serve the purpose more than anything else. He hoped that the duty free access to 8 million garment pieces to the Indian market would contribute a lot to this effect. It may be the first of many steps, he said, that may reduce the trade imbalance.

The MCCI president said Bangladesh has already developed a competitive production base and India should support it for the mutual benefit of both sides.