Latest news with #Bashiruddin
India.com
19-05-2025
- Business
- India.com
Modi govt's tough action brings Bangladesh on its knees, anti-India Yunus says...
New Delhi: India has completely banned the export of Bangladesh's ready-made garments and several other consumer goods through land ports. This decision by India is being seen as a retaliatory action against Bangladesh. Now, the interim government of Bangladesh, led by Mohammad Yunus, has also reacted to this issue. Sheikh Bashiruddin, the commerce advisor of the interim government, stated that their government is committed to resolving all pending trade issues with India through negotiations. Sheikh Bashiruddin said, 'We have not yet received any official notification regarding this decision from the Indian government. Only when we receive official information will we be able to take appropriate action. If any problem arises, both parties will resolve it through mutual dialogue.' Recently, India imposed a ban on the import of readymade garments, fruits and fruit-flavored beverages, carbonated drinks, bakery products, snacks, chips, confectionery, cotton and cotton yarn waste, ready-made products made of plastic and PVC, and wooden furniture from Bangladesh via land route. In fact, before this, Bangladesh had imposed a ban on the import of yarn (cotton thread) from India through land routes. India had also cancelled the trans-shipment facility for Bangladesh to export goods to third countries. Sheikh Bashiruddin said, 'We have received information through social media and news that India has taken some steps, particularly at the Akhaura and Dawki border points. Our priority is to achieve competitiveness, which is beneficial for both countries.' He further stated, 'We are geographically connected countries. Competition, transportation costs, and other factors are certain. For this reason, we periodically impose bans on the import of our agricultural products, and India does so as well. This is a process of trade management, and we are working on it. If any problems arise, both parties will work together to find a solution.' It is being reported that India's decision will impact Bangladesh's exports of nearly 770 million dollars, which is about 42 percent of Bangladesh's total exports. Following the restrictions imposed by India, Bangladesh will now have to send its ready-made garments through Mumbai's Nhava Sheva port and Kolkata port, leading to an expected increase in costs. India has clearly stated that the import of ready-made garments from Bangladesh will not be allowed through any land port; however, it has only been permitted through Nhava Sheva and Kolkata ports.
News18
19-05-2025
- Business
- News18
Muhammad Yunus's Adviser Says Bangladesh Open To Talks With India Amid Export Curbs
Last Updated: India's trade restrictions will impact $770 million, which amounts to nearly 42 per cent of total Bangladeshi imports. An adviser from Muhammad Yunus' interim government responded to India's restrictions on Bangladeshi exports via land ports, stating that Bangladesh is committed to resolving all pending trade issues with New Delhi. Sheikh Bashiruddin, the commerce adviser to Bangladesh's interim government, stated that no formal communication had been received from India regarding the trade restrictions. 'We do not know anything officially about India's steps yet. We will be able to take action after we know officially. If any problems arise, both sides will discuss and try to resolve them," he said. India has imposed a ban on importing several items from Bangladesh via road routes, including readymade garments, fruit-based and carbonated beverages, baked goods, snacks, confectionery, cotton waste, plastic products, and wooden furniture. This move follows Bangladesh's earlier decision to prohibit yarn imports from India by land. Additionally, India withdrew the trans-shipment facility that allowed Bangladeshi goods to be exported to third countries. These reciprocal trade measures have emerged amid rising diplomatic tensions, which were fueled by last year's ousting of Sheikh Hasina and reports of persecution against the Hindu minority in Bangladesh. 'We have learned from social media and news that they (India) have taken some decisions regarding land ports, especially Akhaura and Dawki ports, and some border areas. Our main goal is to achieve competitiveness. This is a profitable matter for both countries", he added. 'We think that India itself is a rich country in the textile or clothing industry. Even then, when these products are exported from our country, it is based on our capabilities. We are not affected by trans-shipping. We have solved this problem on our own using our capabilities", the Adviser said. 'Since we are a geographically connected country, our competitiveness, transportation costs and other factors are fixed. In this regard, we impose restrictions on the import of our agricultural products at different times; India also does. This is a process of trade management, and we are working on that. If a problem arises or develops there, both parties will discuss and try to resolve it," Bashiruddin said. India's trade restrictions will impact $770 million, which amounts to nearly 42 per cent of total Bangladeshi imports. After India's retaliatory action, Bangladesh would have to export its ready-made garments in India through Nhava Sheva and Kolkata seaports. (With ANI Inputs) First Published:
India Gazette
19-05-2025
- Business
- India Gazette
Bangladesh will discuss with India to resolve trade problems, says Muhammad Yunus's Adviser
Dhaka [Bangladesh], May 19(ANI): After India placed curbs on Bangladeshi exports via land ports, the interim government in the country says it wants to resolve all trade problems with India. An Adviser to the Interim government of Bangladesh led by Nobel Laureate Muhammad Yunus, said that Bangaldesh wants to discuss all issues with India. Recently, India had banned the import of Ready Made Garments (RMG), Fruit/Fruit flavoured and carbonated drinks, baked goods, snacks, chips and confectionary, cotton and cotton yarn waste, plastic and PVC finished goods and wooden furniture from Bangladesh by road. Earlier, Bangladesh had banned the import of yarn from India by land route. India had also cancelled the trans-shipment facility for the export of goods from Bangladesh to third countries. Thus, reciprocal trade restrictions are being imposed between the two neighbouring countries. 'We do not know anything officially about India's steps yet. We will be able to take action after we know officially. If any problems arise, both sides will discuss and try to resolve them', Sheikh Bashiruddin, Commerce Adviser of Bangladesh interim government, told the reporters, about the latest restrictions imposed by India. 'We have learned from social media and news that they (India) have taken some decisions regarding land ports, especially Akhaura and Dawki ports, and some border areas. Our main goal is to achieve competitiveness. This is a profitable matter for both countries', he added. 'We think that India itself is a rich country in the textile or clothing industry. Even then, when these products are exported from our country, it is based on our capabilities. We are not affected by trans-shipment. We have solved this problem on our own using our capabilities', the Adviser said. 'Since we are a geographically connected country, our competitiveness, transportation costs and other factors are fixed. In this regard, we impose restrictions on the import of our agricultural products at different times, India also does. This is a process of trade management and we are working on that. If a problem arise or develops there, both parties will discuss and try to resolve it', Bashiruddin said. 'I believe in liberal trade. Trade is important to me. I see no other path than trade inclusion to empower the business and consumers of my country', he said. Earlier on Saturday, the Ministry of Commerce and Industry imposed immediate land port restrictions on the import of several categories of goods from Bangladesh, following a directive issued by the Directorate General of Foreign Trade (DGFT). According to the Global Trade Research Initiative (GTRI), India's restrictions on imports from Bangladesh via land ports will impact goods worth USD 770 million, accounting for nearly 42 per cent of total bilateral imports. The move limits the entry of products such as ready-made garments and processed foods to specific seaports, an official press release by the Ministry stated and is widely viewed as a response to Bangladesh's recent curbs on Indian yarn, rice, and other goods, along with its decision to impose a transit fee on Indian cargo, marking a shift from previously cooperative trade relations. Under the new directive, all kinds of ready-made garments from Bangladesh can now only be imported through Nhava Sheva and Kolkata seaports, with entry through land ports no longer permitted. (ANI)
&w=3840&q=100)
Business Standard
19-05-2025
- Business
- Business Standard
Bangladesh seeks talks with India to resolve trade issues: Yunus adviser
Commerce adviser to Bangladesh's interim government Sheikh Bashiruddin has said the country is willing to engage with India to address trade-related issues in the wake of export curbs imposed by New Delhi at several key land ports, according to an ANI report. India has banned the import of several goods from Bangladesh by road, including garments, snacks, drinks, and plastic items. This follows Bangladesh's earlier curbs on Indian yarn imports and India's cancellation of a trans-shipment facility, leading to tit-for-tat trade restrictions between the two countries. Bangladesh commerce adviser calls for dialogue Reacting to the development, Sheikh Bashiruddin said Dhaka had not yet received any official communication from New Delhi. 'We will take appropriate steps once we have formal information. If any issues arise, both sides will discuss them and seek a resolution,' he said. On India's concerns about trans-shipment and textile imports, Bashiruddin said Bangladesh's exports were based on domestic capability, not trans-shipment routes. 'India is a strong player in the textile sector, yet our exports are driven by our own production strengths,' he said. 'Trade issues best solved through dialogue' Bashiruddin noted that given the geographical proximity between the two countries, factors like competitiveness and transport costs are largely predetermined. He said both nations have occasionally imposed import restrictions, for instance, on agricultural products as part of routine trade management. 'Such issues are best addressed through dialogue,' he said. India curbs key Bangladeshi imports via land ports On Saturday, the Ministry of Commerce and Industry announced immediate restrictions on imports from Bangladesh via land ports, based on a directive from the Directorate General of Foreign Trade (DGFT). The step is widely viewed as a response to Dhaka's earlier move to block Indian yarn and rice exports through land ports, marking a further strain in bilateral trade ties. The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, has issued a notification imposing port restrictions on the import of certain goods such as Readymade garments, processed food items etc., from Bangladesh to India. However, such said port… — ANI (@ANI) May 17, 2025 The DGFT notification places specific curbs on imports of items like ready-made garments, processed foods, carbonated beverages, plastic products, and wooden furniture. In particular, all ready-made garments RMG shipments from Bangladesh must now enter India exclusively through the seaports at Nhava Sheva and Kolkata, with land ports no longer authorised for such imports. According to the Global Trade Research Initiative (GTRI), these curbs could affect Bangladeshi goods worth $770 million, around 42 per cent of total imports from the neighbouring country. (With inputs from ANI)
Hindustan Times
19-05-2025
- Business
- Hindustan Times
What Bangladesh's Muhammad Yunus government said on India's trade curbs
Reacting to India's curbs on Bangladeshi exports through land ports, an adviser of Muhammad Yunus' interim government has said that the nation intends to resolve all outstanding trade issues with New Delhi. Sheikh Bashiruddin, commerce adviser of the Bangladesh interim government, claimed he hadn't received any official communique from the Indian government over the trade curbs. "We do not know anything officially about India's steps yet. We will be able to take action after we know officially. If any problems arise, both sides will discuss and try to resolve them,' he said. India has banned the imports of readymade garments, fruit/fruit-flavoured and carbonated drinks, baked goods, snacks, chips and confectionery, cotton and cotton yarn waste, plastic and PVC finished goods and wooden furniture from Bangladesh through road routes. Also read: New restrictions on imports from Bangladesh including ready-made garments Earlier, Bangladesh had banned the import of yarn from India by land route. India had also cancelled the trans-shipment facility for the export of goods from Bangladesh to third countries. The reciprocal trade restrictions came amid diplomatic tensions triggered by the ouster of Sheikh Hasina (the prime minister of Bangladesh at the time) from the country last year and the persecution of Hindu minorities. "We have learned from social media and news that they (India) have taken some decisions regarding land ports, especially Akhaura and Dawki ports, and some border areas. Our main goal is to achieve competitiveness. This is a profitable matter for both countries", he added. Also read: Bangladesh cannot assume India's northeast is a captive market "We think that India itself is a rich country in the textile or clothing industry. Even then, when these products are exported from our country, it is based on our capabilities. We are not affected by trans-shipping. We have solved this problem on our own using our capabilities", the Adviser said. 'Since we are a geographically connected country, our competitiveness, transportation costs and other factors are fixed. In this regard, we impose restrictions on the import of our agricultural products at different times; India also does. This is a process of trade management, and we are working on that. If a problem arises or develops there, both parties will discuss and try to resolve it,' Bashiruddin said. Also read: Tougher checks await B'desh garments at Indian seaports India's trade restrictions will impact $770 million, which amounts to nearly 42 per cent of total Bangladeshi imports. After India's retaliatory action, Bangladesh would have to export its ready-made garments in India through Nhava Sheva and Kolkata seaports. With inputs from ANI
