The Telegraph
Friday , January 10 , 2014
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Neighbours for trade corridor

Calcutta, Jan. 9: Bangladesh, China, India and Myanmar (BCIM) are bullish on a proposed land economic corridor.

“Regional co-operation is the need of the hour. Opening of this route has been attempted after six decades. We are very optimistic about the project that will help in promoting trade and commerce among the participating countries,” Bangladesh deputy high commissioner in Calcutta Abida Islam said at a session held at the Bharat Chamber of Commerce.

The corridor will cover 1.65 million sq km to ease the flow of goods among the BCIM countries. Around 440 million people in the four countries are likely to be covered by this project.

Bengal will be directly benefited by it.

Meanwhile, Islam said the political situation in her country had impacted bilateral trade, but could not put any number to the economic loss.

“Bilateral trade has been impacted to an extent. Every country needs a strong political regime and we are moving towards that. There will be stability soon as we are heading towards a stable government formation,” she said.

India is one of the largest trading partners of Bangladesh, with trade valued at $5.14 billion in 2012-13 against $3.78 billion in 2011-12.

She said the trade numbers were far below actual potential and deficit remained high.