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>cabinet okays deals to boost trade with India

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THE cabinet today unanimously approved two trade deals, expected to be signed during the visit of Indian External Affairs Minister Pranab Mukherjee, in efforts to boost up trade and investment with India.

In a special cabinet meeting led by Prime Minister Sheikh Hasina, the agreements on development and protection of capital investment under bilateral arrangement were passed.

The joint trade and investment agreement would allow businessmen from the two countries to invest in businesses on both sides of the border.

“The government is ready to sign more such agreements in the interests of the country and people’s welfare,” Sheikh Hasina told reporters after the meeting.

The trade treaty is a three-year bilateral trade agreement, which is being renewed after three years.

In 1980, the trade treaty was signed for the first time between the two neighbouring countries and it was renewed in March 2006 allowing India to invest in Bangladesh.

According to the treaty, the two governments agreed to make mutually beneficial arrangement for the use of their waterways, roadways and railways for commerce between the two countries about passage and goods between the places in one country for the territory of others.

Pranab is scheduled to arrive in Bangladesh on February 8 for two days.

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Spectator

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