India-Bangladesh agree on comprehensive economic partnership


Dhaka, New Delhi and Dhaka have agreed to forge a comprehensive economic partnership to boost trade ties, as Bangladesh moves out of the Least-Developed Country (LDC) category, Bangladesh Commerce Minister Tofail Ahmed and his Indian counterpart Suresh Prabhu took the decision at a bilateral meeting, here on Wednesday. "This will be futuristic, as well as realistic," Mr Prabhu said. India and Bangladesh have an existing trade agreement and both countries are also members of the Agreement on South Asian Free Trade Area (SAFTA), under which India has granted duty-free, quota-free access to Bangladesh as an LDC. As Bangladesh graduates from the LDC status in the next few years, Mr Prabhu said there would be a need to have a bilateral arrangement, to enhance trade and commerce between the two countries.