Narinjara News
Bangladesh Sonali Bank and Myanmar Investment and
Commercial Bank will sign agreements to facilitate the trade once lists are
agreed upon.
The two countries are approaching towards the special trade system because of
Sonali Bank has taken all preparations to start the
account trade system. The 44 products to be considered under the system will
need to have at least 30 per cent local value addition.
Under the system, importers of the two countries will not need foreign exchange
to import products. The two banks will settle transactions by netting the
import amounts every six months.
However, the amount to be settled by either country will not cross $ 100,000 US
dollar and the two banks will remit the amounts.
Under the new system, the trade deficit of either country will not cross two hundred thousands of US dollar.
The products on the Bangladesh list of export to Burma include pharmaceuticals,
ceramics, tableware, tiles, biscuits, chips, juice, noodles, drinks, tea,
condensed, milk, Monopuri handloom products, bed
sheet, bed cover, cosmetics and toiletries, melamine and jewelry. #