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India, Bangladesh step up CEPA feasibility study
Feb 24, 2022

India and Bangladesh are expected to roll out the process of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) to deepen trade and economic ties during the visit of a high-level team from Bangladesh from March 1-4, 2022 after a Joint Study Group (JSG) for examining the feasibility of the CEPA submitted its recommendations.
 
The JSG comprising negotiators and trade experts from both sides are likely to start discussions on Wednesday towards finalizing a report which will examine the prospects of the treaty and prepare recommendations over the next few days, a source close to the development told ANI.
The CEPA with Bangladesh is one of the agreements that India is prioritizing. During Prime Minister Narendra Modi's Bangladesh visit in March 2021, the two sides had agreed to enhance trade and the joint statement underscored the need for the removal of non-tariff barriers, need for predictability of trade policies, regulations and procedures.
 
There is a strong economic reason for India to prioritize the CEPA given the fast-growing trade relationship. In November 2021, Commerce and Industry Minister Piyush Goyal had said India was looking to advance a CEPA with Bangladesh.
 
Foreign Secretary Harsh Vardhan Shringla has recently observed that the two-way trade has witnessed a quantum jump with exports from Bangladesh, for the first time, expected to cross USD 2 billion this year.
    
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