DHAKA: Bangladesh will be allowed to use India territory in expanding its trade with other countries.

With Prime Minster Sheikh Hasina as chair, the cabinet on Monday approved the draft of amended trade agreement between Bangladesh and India.

The agreement keeps the provision of expanding Bangladesh trade with other countries by using India’s land, rail and river links.

After the meeting, cabinet secretary Mohammad Mosharraf Hossain Bhuiyan told the media that as per the previous agreement, Bangladesh and India could use their respective territories for trade while the approved draft allows Bangladesh to use India territory in expanding its trade with neighboring Nepal and Bhutan.

Mentioning the idea of the new agreement as the PM’s own, Mosharraf Hossain termed the agreement a great achievement.

The amendment has also extended the time period of the agreement from two years to five.

Additionally, the automatic renewal of the agreement will be held in every five years, the secretary added.

However, any of signatory countries will notice earlier, if it wants to withdraw itself from the agreement.

According to the secretary, the new provisions of the agreement will be effective from April 1.

BDST: 1850 HRS, APR 06, 2015
RR/SMS