India proposes Bangladesh for joint study on exports

India has suggested Bangladesh to carry out a joint study on products being exported by the two countries in order to complement each other and attain synergy.

The proposal was made by Indian Commerce Minister Suresh Prabhu during a meeting with visiting Bangladesh's Industries Minister Amir Hossain Amu at the former's office on Friday.

The two ministers discussed ways to enhance cooperation between the two countries to further facilitate industrialization in and Indian investment to Bangladesh, a statement issued by the Bangladesh High Commission in New Delhi on Friday night said according to our New Delhi correspondent.

Emphasizing on Bangladesh's investment-friendly environment, Amu invited Indian investors to invest more in Bangladesh's industrial sector and the two leaders resolved to convene a joint event in Dhaka to promote industrialization in Bangladesh sometime in the first half of next year. 

"Besides, the Indian Minister proposed to carry out joint study on products being exported by both countries with an eye to complementing each other and attaining synergy," the statement said without specifying Amu's response to it.

Asked by Amu about the progress in signing of the agreement on Teesta river water- sharing Prabhu reiterated Indian Prime Minister Narendra Modi's keenness to conclude the agreement soon.

Prabhu, India's former Environment and Forest Minister, also showed eagerness for joint conservation with Bangladesh of the flora and fauna of the Sundarban.

Prabhu accepted the Bangladesh Minister's invitation to visit Bangladesh soon.

Earlier, the Bangladesh Industries Minister, in his keynote paper at a session titled "Integration of SMEs in Global Value Chain (GVC) - Challenges and Opportunities" of the 21st International Conference on Small and Medium Enterprises held in New Delhi, focused on three overarching themes: importance of Small and Medium Enterprises (SMEs) for inclusive growth; ways for integration of SMEs into Global Value Chains (GVCs) and actions to foster deeper participation in GVCs.

He said that "under the policy directive and guidance of Prime Minister Sheikh Hasina, we have achieved remarkable progress in the areas of the MDGs, despite many hurdles".

 Terming the SMEs as driving forces for Bangladesh's economy, Amu said, "Our SME sector represents more than 90% of enterprises in the country; contribute around 25% of GDP and 23% of total employment (including agriculture), 80-85% in industrial employment and 75% of household income".