Regional trade gets new boost

The cabinet today approved the amended draft of a deal that will allow Bangladesh and India to use each other’s territory while engaging in business with a third country.

The agreement will allow Bangladesh to use India’s land, water and rail routes for trade with Bhutan and Nepal was okayed in a regular cabinet meeting chaired by Prime Minister Sheikh Hasina.

Cabinet Secretary M Musharraf Hossain Bhuiyan briefed media after the meeting. “This is a great achievement for Bangladesh. We will be greatly benefited by the deal. It will be effective from April 1.”

This deal was first struck in 1972. Later, the deal was inked anew on 2009. Its amended form has been approved today which will have a longevity of five years. However, the deal will be auto-renewed sans any objection from either of the two countries.