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India, Bangladesh sign agreements to boost trade, combat drugs

Written by: Staff

New Delhi, Mar 21 (UNI) India and Bangladesh today resolved to jointly combat terrorism and boost bilateral trade and signed two agreements including a revised trade agreement of 1981.

The Revised Trade Agreement was signed by Commerce Minister Kamal Nath and the Bangladesh Finance Minister to revive an earlier bilateral trade agreement signed in 1981 which is due to expire on March 31.

The Agreement aims at expanding trade and economic relations between the two countries on the basis of equality and mutual benefits by facilitation, expansion and diversification of trade.

It recognises that expansion of trade is important for the development of the two countries and also takes into account the asymmetries between them.

The agreement also calls for cooperation between the two governments to prevent infringement and circumvention of rules and regulations of either country in matters related to foreign exchange and foreign trade.

Both countries would make mutually beneficial arrangements for the use of their waterways, roadways and railways for commerce between the two countries for passage of goods between places in one country through the territory of the other.

According to the agreement, both the countries would also facilitate holding of trade fairs and exhibitions and visits of business and trade delegations.

The second agreement--For 'mutual cooperation for preventing illicit trafficking in Narcotic Drugs and Psychotropic Substances and Related Matters' was signed by Mr Kamal Nath and Bangladesh Foreign Minister Morshed Khan.

It aims at cooperation for preventing illicit trafficking in Narcotic Drugs and Psychotropic Substances and Related Matters and is a reaffirmation of the joint determination of India and Bangladesh to fight against drug abuse and illicit trafficking.

Under the agreement, the Narcotics Control Bureau would be the nodal agency for India and the Department of Narcotics Control would be the nodal agency for Bangladesh, which shall meet periodically with the aim of promoting field level contact and cooperation between the two countries.

The agreement also envisages quick exchange of information regarding operational intelligence and to help each other build up records in respect of smugglers, suspects, financiers, organisers, etc.


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