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India-Bangladesh
trade treaty to be extended by two months
Agencies
- New Delhi
The
India-Bangladesh bilateral trade treaty which expired on June 4
is likely to be extended by two months pending review of the agreement.
India
had suggested extending the treaty by four months to which Bangladesh
responded saying that it was willing for a two-month extension,
official sources said, adding that Dhaka’s proposal was likely
to be accepted by New Delhi.
Secretary
level trade talks were held at Dhaka in April this year but the
text of the agreement could not be discussed.
India
had favoured renewal of the treaty for three years when the two
countries met in last October but Bangladesh said that it wanted
a review before renewal.
The
treaty which originally expired in October last was extended by
six months till April this year. It was further extended till June
pending a review.
As
the review could not be completed, India suggested a third extension
last week. The two sides have already exchanged draft amendments
to the treaty which needed to be deliberated before its renewal.
It may be recalled that following the trade talks in April, India
had agreed to provide duty free access to 40 tariff lines at six
digit level under Harmonised System.
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