KALADAN NEWS

Dated-6th March 1003.

DHAKA, RANGOON PLAN TRADE EXPANSION

Chittagong, March 6: Bangladesh and Burma will set up a joint trade commission during PM Khaleda Zia’s visit to Rangoon on 19th this month. A foreign ministerial joint commission will also be set up to oversee bilateral relations, according to the Daily Star report.

The two neighbours will pen agreements to introduce “ accounts trade” and coastal shipping links to boost trade, the foreign ministry sources said.

The two neighbours , Burma and Bangladesh will change the existing border trade agreement signed in 1994 to prohibit  trading of third-country products, Commerce ministry sources said.

Manufactured goods will require at least 30 per cent value addition to be traded. The account trade arrangement would initiate two-way transactions of goods without the need for cash payment, the Daily Star reported.

The proposed joint trade commissions to be headed by the commerce ministers of the two countries will regularly reviewed and identify products for exchanges. The commission will also identify and resolved trade problems, the newspaper said.

Under the coastal shipping deal, Chittagong, Cox’s Bazar and Teknaf will be linked to the Burma ports of Rangoon, Akyab and Maungdaw, the newspaper reported.

In 2000-2001, the trade volume between two countries leaving a trade gap of $ 23.33 million against Bangladesh. But 2001-2002, the trade volume came dawn to around $19 million with trade imbalance still against Bangladesh $4.5 million, official sources said.

It was not known whether any agreement on repatriation of the Rohingya refugees would be signed. Burma has assured that the refugees would be taken back after identity verification, Foreign office sources said.

“Both sides are optimistic that the issue would be resolved soon,” a highly placed source at the foreign office said.

Editor

Kaladan Press Network.