Page 59 - 31JAN2018E

Foreign aFFairs

• Power play Sheikh Hasina’s party has won
288 of the 300 seats in the Bangla Parliament

plus, today Bangladesh remains India’s
largest trading partner in South Asia.
There is asymmetry in their trade as
the balance of trade is tilted towards
India, an area of major concern for
Bangladesh. India has taken some
corrective measures like the signing
of the South Asian Free Trade Area
agreement in 2011 to allow duty-free
exports from Bangladesh to India, yet a
lot remains to be done. There is a plan
to set up a special economic zone (SEZ)
for Indian companies in Bangladesh
from where the manufactured goods
will be exported to India. This will
There is no doubt that the Sheikh According to the Export Promo- increase the trade volume between the
Hasina government performed rea- tion Bureau of Bangladesh, Dhaka’s two countries and also correct their
sonably well on the economic front total export of goods to China stood at balance of trade position.
during its previous two tenures. But $808.14 million in 2015-16, which was Besides tackling the issue of a huge
that was no reason for her to indulge in only $319.66 million in 2010-11 --- a 30 trade imbalance, the two countries are
intimidating politics and behave like a percent growth during the last five seriously trying to find a solution to the
dictator. She must be told by the world years. Nevertheless, the recent export differences over the sharing of Teesta
community that crippling democracy growth has been quite slow, only 6 river waters. All the irritants in this
on any pretext will not be appreci- per cent and 2.2 per cent in 2014-15 regard have been taken care of
ated and that the opposition must be and 2015-16, respectively. The share and now a formal accord may not
allowed to flourish and play its role in of Bangladesh’s exports to China was be difficult to get signed. The river
an atmosphere free from violence and merely 2.4 per cent of its total exports originates from Sikkim but reaches
corrupt practices. India particularly during the past fiscal year. West Bengal through territories in
has a special role to play in not only So far as India-Bangladesh bilateral Bangladesh.
promoting economic development trade relations are concerned, the flow The most relieving development
in Bangladesh but also helping create of goods and services between the two that has taken place between the two
an atmosphere in which democratic neighbours has increased considerably neighbours during the Awami League’s
institutions become stronger. during the past few years. In 2013-14, rule in Bangladesh is a clear message
In the process, the “Bangladeshi India’s exports to Bangladesh stood at having gone to anti-India elements is
problem” in India will also disappear $6.1 billion and imports from Bang- that they can no longer hide them-
with the passage of time. A greater ladesh were valued at $462 million. selves on the other side of the border
focus on development-related activi- The figure for India’s official exports to after committing crime in India. Bang-
ties in Bangladesh will reduce poverty Bangladesh increased to $5.8 billion, ladesh handed over many such ele-
considerably, preventing illegal migra- but its imports from Bangladesh rose ments to India in the recent past. This
tion from there owing to compulsions to nearly $518 million, according to could not be possible had there been a
of survival. World Bank statistics. The total formal Khaleda Zia government in Dhaka.
Of course, India has got a special bilateral trade exchanges between the What needs to be clearly under-
opportunity to further strengthen its two countries in 2013-14 were of the stood in both New Delhi and Dhaka is
relations with Bangladesh with Sheikh value of $6.6 billion, which was much that they should cement their relation-
Hasina recapturing power. India higher than the figure of $2.7 billion ship in such a manner that it becomes
must find ways to deter Bangladesh five years earlier. Yet the incremental an example for other neighbours to
from leaning towards China for its trade growth between India and Bang- emulate in their own mutual interest
development-related requirements. ladesh remains just over 1 per cent as well as in the interest of peace in the
China is the largest importer of goods since the mid-1990. entire South Asian region.
from Bangladesh and the third largest However, with an annual turnover
trading partner with Dhaka. of goods and services worth $9 billion letters@tehelka.com

Tehelka / 31 january 2019 59 www.Tehelka.com