Latest news with #BIMSTEC
The Hindu
24-05-2025
- Business
- The Hindu
How will land ports closure impact the region?
The story so far: On May 17, the Directorate General of Foreign Trade shut down all land ports with Bangladesh for export of apparel (readymade garments) from Bangladesh. The order also shut down the northeastern land ports with Bangladesh to restrict the export of specific items from Bangladesh. The move is being interpreted as a fallout of the downturn in relations between New Delhi and Dhaka. The two sides are yet to develop a fully functional relationship after the fall of the Hasina government last August. What is the May order? Stopping import of readymade garments from Bangladesh through all land ports, the order said, 'Import from Bangladesh shall not be allowed from any land port; however, it is allowed through Nhava Sheva and Kolkata seaports.' That apart, the order also banned export of fruit, fruit flavoured drinks, processed food items (baked goods, snacks, chips and confectionery), cotton and cotton yarn waste, plastic and PVC finished goods except pigments, dyes, plasticisers, and granules, and wooden furniture from Bangladesh through land ports of Assam, Meghalaya, Mizoram and Tripura. The same goods were also banned from entering India through the land customs stations of Changrabandha and Fulbari. The order has clarified that import of fish, LPG, edible oil and crushed stone from Bangladesh will remain unaffected. What led India to issue this order? India said the order was aimed at ensuring reciprocity in trade with Bangladesh. On April 13, Bangladesh's National Board of Revenue imposed a ban on the import of cotton yarn from India through land ports. That apart, Bangladesh also stopped export of Indian rice through the Hili land port in West Bengal. Indian officials further said that Bangladesh had been carrying out aggressive checks of Indian trucks over the past several months. All these factors were taken into account in stopping the entry of readymade garments through Indian land ports. In all, there are 24 operational land ports between India and Bangladesh, and several other crossings are being developed. How is India justifying the decision? The order came into immediate effect on May 17, officials said. However, the order and the list of items on it are expected to be reviewed from time to time. The sea ports too are not expected to remain open for all items from Bangladesh as there will be mandatory checks and reviews of all items from Bangladesh exported through Indian sea ports. The Indian side further claimed that Bangladesh has been cherry-picking issues and that several comments by top leaders indicated that they were treating the northeast as a 'captive market' for Bangladesh's products, while Indian goods are not being given transit. Citing Prime Minister Modi's speech on the northeast, Indian officials said the northeast is integral to the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation). The 'equal market space now available in the resource-rich northeast is expected to give a fillip to manufacturing and entrepreneurship in the region under the Atmanirbhar Bharat schemes and policies,' they said. How has Bangladesh responded? Bangladesh has not issued any official response so far though off the record Bangladeshi officials have expressed disappointment over the way this step was initiated by the Indian side. They said Bangladesh was not intimated about Indian plans and that they got to know of the decision through media reports which caught traders and transporters unawares. To India's accusation of Bangladesh unilaterally stopping India's cotton yarn and rice exports, Bangladesh officials said that these moves were enforced to control corruption on their side. Commerce Adviser S.K. Bashir Uddin of the interim government of Bangladesh has said a preliminary review is on about the impact that the Indian order will have on the economic prospects of Bangladesh. He said that in terms of furniture and agro products, the impact on Bangladesh will not be widespread, but the impact on readymade garments is likely to be significant. Will India's order affect Bangladesh's trade with Nepal and Bhutan? India claims that the order will not affect Bangladesh's trade with Nepal and Bhutan. However, it is understood that overland trade blockade will naturally impact flow of orders from Bangladesh to Nepal because of frequent disruption. The order has also created a ripple effect making investment planners careful before venturing into Bangladesh. Is the decision to shut land ports part of a larger issue between India and Bangladesh? Indian officials say the order is a 'message to Bangladesh' in response to remarks regarding India's northeast made by interim government chief Mohammed Yunus in China during the March 26-29 visit, which were unacceptable. In a meeting with Chinese business houses, Prof. Yunus had described the northeast as a 'landlocked' region that is suffering from developmental bottlenecks, urging China to access the region through Bangladesh. He had pitched Bangladesh as the 'guardian of the ocean' suggesting that Bangladesh's coastline is available to China to develop industrial and commercial links with India's northeast. Indian officials have said that the closure of land ports (Integrated Check Posts and Land Customs Stations) is also a message to the interim government of Bangladesh which has warmed towards Pakistan, accused of exporting cross-border terrorism to J&K. Indian officials said the order to restrict readymade garments was taken as it will affect nearly $700 million worth of textile exports from Bangladesh to India. Though it is a small part of the total $50 billion worth of exports from Bangladesh, it is expected to send a message to the global community about Bangladesh's moves.
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First Post
20-05-2025
- Business
- First Post
Macron rejects Bangladesh's request for bilateral with Yunus next month, Dhaka cancels trip
Yunus was all set to fly down to France to attend the Third United Nations Ocean Conference to be held next month after Dhaka requested for a bilateral meeting between Macron and Yunus read more Muhammad Yunus, chief adviser of the Government of Bangladesh, attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 23, 2025. File Image/Reuters French President Emmanuel Macron has rejected plans for a bilateral meeting with Bangladesh's Chief Advisor Muhammad Yunus on the sidelines of an international summit slated for next month. According to a report by the Economic Times, Yunus was all set to fly down to France to attend the Third United Nations Ocean Conference to be held next month after Dhaka requested for a bilateral meeting between Macron and Yunus. France, however, refused the proposal, following which Yunus had to cancel his trip to the country, in a development that is being seen as a setback to the interim government's global outreach. STORY CONTINUES BELOW THIS AD The conference will be in Nice from June 9, and the French president has planned to host the participants for dinner the day before. Why did France cancel the meeting? Sources in Dhaka told the news outlet that after receiving an invitation from France, Bangladesh actively sought to organise a bilateral meeting between President Macron and Yunus. However, French officials conveyed that numerous countries attending the conference had already requested bilateral meetings, leaving no room to accommodate an additional one. France has reportedly said that it does not want to hold bilateral meetings during the summit and is keen on Yunus attending the ocean meet. France was interested in understanding the specific objectives of the proposed bilateral meeting and was not in favour of holding it merely for formality. Although Bangladesh had previously shown interest in purchasing civilian aircraft from France, there has been no significant progress on that front. Yunus' global outreach Yunus has been trying to snag meetings with prominent leaders from across the world to consolidate Bangladesh's position as the situation in the country took a turn for the worse following the dismissal of Sheikh Hasina's government. Last month, Yunus met Prime Minister Narendra Modi on the sidelines of the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit in Bangkok. This was the first time PM Modi met Yunus.
Time of India
18-05-2025
- Business
- Time of India
India's move on Bangladesh exports to restore equality in relationship
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Land port restrictions imposed by India on select exports from Bangladesh to the north east is expected to restore equality in the India had hitherto allowed all exports from Bangladesh without restrictions, the transit and market access to the north east had been restricted by Bangladesh. This measure by India restores equal market access for both countries. Bangladesh has been seeking equality in engagement with India, sources with Bangladesh will be on reciprocal terms. RMG imports from Bangladesh restricted to only two seaports (Kolkata and Nhava Sheva, Mumbai) is a reciprocal measure to Bangladesh imposing similar trade restrictions on Indian yarn and Rice as well as selectively enhanced inspection on all Indian goods exported to needs to realise that it cannot cherry pick terms of bilateral trade solely for its benefit or assume North East is a captive market for its exports, while denying it market access and underlined by Prime Minister Modi, the NorthEast is integral to BIMSTEC . The equal market space now available in the resource-rich northeast is expected to give a fillip to manufacturing and entrepreneurship in the region under the Atmanirbhar Bharat schemes and policies.
India Gazette
14-05-2025
- Politics
- India Gazette
Bangladesh interim govt bans former PMs party
Dhaka has said the disqualification of Sheikh Hasinas Awami League is necessary to protect national security and sovereignty Bangladesh's interim government has decided to ban former Prime Minister Sheikh Hasina's Awami League party and bar it from running in the next general election, saying it is necessary to protect national security and sovereignty, according to local media. The ban was imposed under a revised anti-terrorism law, which was introduced overnight on Monday. Shafiqul Alam, press secretary to Interim Chief Adviser Muhammad Yunus, defended the ban and told state-run news agency Bangladesh Sangbad Sangstha (BSS) that elections in the country were an internal matter and that other countries should respect the sovereign will of the Bangladeshi people. Alam's remarks on Tuesday were aimed at neighboring India, which has backed the Awami League for years. Indian Foreign Ministry spokesperson Randhir Jaiswal had described the ban as a "concerning development" that was imposed without due process. The Awami League, led by former Prime Minister Hasina, was ousted from power on August 5 last year in a student-led uprising. Hasinafledto India, and Nobel Peace Laureate Muhammad Yunus took charge of an interim government. Ties between the two South Asian neighbors have been tense since that time. New Delhi has repeatedly called for the early holding of free, fair and inclusive elections in Bangladesh. No date has been finalized for the next general election in Bangladesh, which could take place anytime between December 2025 and June 2026. On the sidelines of the sixth BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit in Bangkok in April, Indian Prime Minister Narendra Modi met with Yunus and conveyed New Delhi's desire "to forge a positive and constructive relationship with Bangladesh based on pragmatism." He highlighted, however, that "rhetoric that vitiates the environment is best avoided." At the meeting with Modi, Yunus broached the issue of extraditing the former prime minister. The interim government has been seeking the extradition of Hasina and members of her government to face trial on charges including murder, torture, abduction, crimes against humanity, and genocide. New Delhi has not publicly commented on the request. (
Russia Today
14-05-2025
- Politics
- Russia Today
Bangladesh interim govt bans former PM's party
Bangladesh's interim government has decided to ban former Prime Minister Sheikh Hasina's Awami League party and bar it from running in the next general election, saying it is necessary to protect national security and sovereignty, according to local media. The ban was imposed under a revised anti-terrorism law, which was introduced overnight on Monday. Shafiqul Alam, press secretary to Interim Chief Adviser Muhammad Yunus, defended the ban and told state-run news agency Bangladesh Sangbad Sangstha (BSS) that elections in the country were an internal matter and that other countries should respect the sovereign will of the Bangladeshi people. Alam's remarks on Tuesday were aimed at neighboring India, which has backed the Awami League for years. Indian Foreign Ministry spokesperson Randhir Jaiswal had described the ban as a 'concerning development' that was imposed without due process. The Awami League, led by former Prime Minister Hasina, was ousted from power on August 5 last year in a student-led uprising. Hasina fled to India, and Nobel Peace Laureate Muhammad Yunus took charge of an interim government. Ties between the two South Asian neighbors have been tense since that time. New Delhi has repeatedly called for the early holding of free, fair and inclusive elections in Bangladesh. No date has been finalized for the next general election in Bangladesh, which could take place anytime between December 2025 and June 2026. On the sidelines of the sixth BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit in Bangkok in April, Indian Prime Minister Narendra Modi met with Yunus and conveyed New Delhi's desire 'to forge a positive and constructive relationship with Bangladesh based on pragmatism.' He highlighted, however, that 'rhetoric that vitiates the environment is best avoided.' At the meeting with Modi, Yunus broached the issue of extraditing the former prime minister. The interim government has been seeking the extradition of Hasina and members of her government to face trial on charges including murder, torture, abduction, crimes against humanity, and genocide. New Delhi has not publicly commented on the request.
