Kolkata: Encouraged by increasing apparel exports to India following a duty-free treaty (with India), Bangladesh is planning to set up two Special Economic Zones (SEZ) for specifically wooing Indian companies, Mr Abdul Matlub Ahmad, President, India Bangladesh Chamber of Commerce and Industry, said here on Monday.
Speaking on the sidelines of the Bangladesh, China, India and Myanmar (BCIM) Business Forum Meet, Mr Ahmad said that each of the SEZs will come up on 100-acre plots of land in Kishoreganj and Chattak, in Bangladesh. While the Kishoreganj SEZ will cater to garment manufacturers, the Chattak SEZ will be a multi-purpose zone. Both SEZs will be built by a private entity based in Bangladesh.
“We are targeting Indian garment manufacturers in such areas as Tirupur (Tamil Nadu) and Ludhiana (Punjab) for garment SEZs and we are receiving positive feedback,” Mr Ahmad said.
According to Mr Ahmad with a duty-free treaty, export to India is likely to double to $1 billion (approximately Rs 5,000 crore) by June 2012, from $500 million (approximately Rs 2,500 crore) last year. Meanwhile, the BCIM forum further discussed the need for greater regional co-operation between India and China, on the one hand, and the smaller countries of Myanmar and Bangladesh, on the other. Mr Sandipan Chakravortty, Managing Director, Tata Steel Processing & Distribution Ltd., said that bilateral trade between India and Bangladesh has remained more or less static and needs to grow.
He added that in the case of trade with China, India needs to emphasise on expanding its exports. Wine, telecommunications, food and beverages and education are some of the sectors with immense opportunities.
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