Home / Knowledge / News / Bilateral FTA's favoured over multilateral initiatives
Bilateral FTA's favoured over multilateral initiatives
Aug '08
The Government took an important decision in a high level meeting recently, which was attended by senior officials and trade experts. The authorities decided that the country will start negotiations with India, Pakistan and Sri Lanka for bi-lateral Free Trade Agreement (FTA).

The meeting was chaired by Hossain Zillur Rahman, Commerce Adviser of the working Government. Bangladesh has favoured multilateral trade deals over bilateralism for quite sometime now. But since it has not delivered the desired results, those in the meeting unanimously agreed to having bilateral agreements instead of multilateral ones.

India, Pakistan and Sri Lanka have have been persuading Bangladesh to ink FTA's with them for a long time, as many developed nations like the US, find two way free trade deals more convenient.

Trade experts from Government and private sectors will be included in the core group which would be formed for looking into all the aspects before signing the FTA with these South Asian nations.

The officials present at the conference suggested that India, Pakistan and Sri Lanka should provide Bangladesh with easy access in their markets without strict regulations for the suggested FTA.

According to available data, in the just concluded fiscal, combined trade deficit of Bangladesh with India and Pakistan rose to almost US $2.3 billion, out of which India alone accounted for nearly $2.2 billion.

However, the nation managed to enjoy a narrow trade surplus with Sri Lanka, the figure which touched approximately $27 million until March of fiscal 2007-08.

Analysts believe that, this move would help Bangladesh promote sale of various products and increase the level of overall economic development.

Must ReadView All

India to be largest cotton producer in 2018-19: USDA

Textiles | On 22nd Jun 2018

India to be largest cotton producer in 2018-19: USDA

For the fourth consecutive season, India is expected to be the...

Organic Basics gets Polygiene help for advanced underwear

Apparel/Garments | On 22nd Jun 2018

Organic Basics gets Polygiene help for advanced underwear

Danish firm Organic Basics is working with Swedish company Polygiene, ...

Courtesy: Pexels

Textiles | On 22nd Jun 2018

Pakistan's textile exports up 9.82% in July-May FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Top executives
Textile industry

It will take some time for the people to change their buying choices

Awen Delaval

'Natural fibres are appreciated for traditional authenticity'

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search