DHAKA: Bangladeshi exporters are raising concerns over India’s newly imposed port restrictions on key export items such as readymade garments (RMG) and processed foods, warning that the move will lead to “delays, higher costs, and disruptions” in bilateral and regional trade. While experts view the restrictions as non-tariff barriers that could significantly impact Bangladesh’s export competitiveness, the interim govt has said that any issues arising from the new measures will be addressed through dialogue, expressing hope that trade ties will remain stable.
Commerce adviser SK Bashir Uddin on Sunday said the govt has not yet received any formal notification on the restrictions. Expressing optimism that trade will continue, he said, “This is in the interest of consumers and production sectors on both sides.”
Meanwhile, 17 trucks carrying food products were stuck at the Burimari border due to the restrictions. These truckloads of goods were scheduled to cross the border on Sunday morning and head to Siliguri (West Bengal).
A former director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said it will now take longer for Bangladeshi garments to reach their destinations than before, and costs will rise. “That means exports will decrease to some extent,” he added. “At a time when world trade is beset by various problems, such reciprocal trade restrictions will further increase the level of damage to both sides,” the exporter noted.
The commerce adviser also said the govt has started assessing the potential impact of the Indian govt’s move. “We have initiated a preliminary review to determine the steps Bangladesh should consider,” he said.
On Saturday, in a “retaliatory move”, the Indian govt restricted the import of several products from Bangladesh, including a ban on the entry of readymade garments through the land route.
In a notification issued on Saturday, the directorate general of foreign trade, however, allowed garments, the mainstay of Bangladesh industry, to be only shipped via Nhava Sheva and Kolkata ports. While fish, edible oil, LPG and crushed stones have been spared, import of several products via all land customs stations and integrated check posts in Assam, Meghalaya, Tripura, Mizoram and Changrabandha and Fulbari in West Bengal will be discontinued.
Commerce adviser SK Bashir Uddin on Sunday said the govt has not yet received any formal notification on the restrictions. Expressing optimism that trade will continue, he said, “This is in the interest of consumers and production sectors on both sides.”
Meanwhile, 17 trucks carrying food products were stuck at the Burimari border due to the restrictions. These truckloads of goods were scheduled to cross the border on Sunday morning and head to Siliguri (West Bengal).
A former director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said it will now take longer for Bangladeshi garments to reach their destinations than before, and costs will rise. “That means exports will decrease to some extent,” he added. “At a time when world trade is beset by various problems, such reciprocal trade restrictions will further increase the level of damage to both sides,” the exporter noted.
The commerce adviser also said the govt has started assessing the potential impact of the Indian govt’s move. “We have initiated a preliminary review to determine the steps Bangladesh should consider,” he said.
On Saturday, in a “retaliatory move”, the Indian govt restricted the import of several products from Bangladesh, including a ban on the entry of readymade garments through the land route.
In a notification issued on Saturday, the directorate general of foreign trade, however, allowed garments, the mainstay of Bangladesh industry, to be only shipped via Nhava Sheva and Kolkata ports. While fish, edible oil, LPG and crushed stones have been spared, import of several products via all land customs stations and integrated check posts in Assam, Meghalaya, Tripura, Mizoram and Changrabandha and Fulbari in West Bengal will be discontinued.
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