State Minister for Shipping Khalid Mahmud Chowdhury said that conference like Global Maritime India Summit 2023 will play an effective role in connecting and developing inland waterways in South Asian region.
He also said that expanding maritime trade, increasing climate resilience in supply and transport systems, cooperation in all areas of connectivity can be developed through bilateral relations among the countries.
"Bangladesh shares borders with India on three sides, stretching over 4,000 km. Being close neighbors, economic and trade relations with India, Bhutan, Nepal and Myanmar can further be utilized for mutual benefits. South Asia is one in terms of economic harmony, connectivity and trade", he added.
Khalid Mahmud said this while addressing a session on `Inland Waterways and Coastal Shipping: The Way Forward` on the second day of the Global Maritime India Summit 2023 in Mumbai on Wednesday.
State Minister for Shipping earlier attended the ministerial meeting of the Global Maritime India Summit 2023.
Khalid said, "Bangladesh started trading with Rupees. India is Bangladesh`s second largest trading partner with bilateral trade worth USD 16 billion. We import goods worth 14 billion dollars from India annually. From jute, cotton, onions, vegetables, fish, clothes to industrial products, machinery, fertilizers, ores, minerals and raw materials for business, we have a plethora of products. Bilateral trade is estimated to be worth USD 27 billion by 2027. We are working tirelessly to facilitate the expansion of such large scale trade and economic relations."
The state minister said that the trade in inland waterways has been doubled in the last decade. So Bangladesh is looking forward to do trade with the neighbouring countries in an appropriate manner.
"We are currently negotiating the signing of an Integrated Economic Partnership Agreement with India. It is hoped that Bangladesh`s transition from Least developed countries (LDCs) status will create a framework for increased bilateral trade and investment. The government has directed to increase navigable waterways to 10,000 km across the country", he added.
In terms of connectivity, India and Bangladesh launched the Maitri (Friendship) Express train and restored several old rail networks, he added.
Mentionable, the Minister of State for Shipping participated as a special guest in the opening ceremony of the Global Maritime India Summit 2023 in Mumbai, India on 17 October 2023 which was inaugurated by Indian PM Narendra Modi.
Sarbananda Sonowal, the minister of Ports, Shipping and Waterways as well as minister of Ayush, India invited Khalid to participate in the conference. BIWTA Chairman Commodore Arif Ahmed Mostafa participated in the conference as a guest.
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