Dhaka, Jan 20 (UNB) - A business delegation that accompanied Prime Minister Sheikh Hasina on her India tour billed her visit successful as it will act as a catalyst in coming out from the cool business relationship between the two countries.

“We think the Prime Minister’s visit will enable us to come out from the cool relationship in business sector between the two countries, which is the most important thing of this tour,” said Kazi Akramuddin Ahmed, the Standard Bank Limited chairman, while addressing a press conference at a local hotel.

He noted that the ice is beginning to melt down, and it is melting as an atmosphere of mutual good relationship has been created.

While reading out a written statement on behalf of the 50-member business delegation that toured India as the PM’s entourage, Akramuddin said the trade deficit of Bangladesh with India would decrease substantially due to the fruitful discussions and joint communiqué.

“They will also allow another 47 items for duty-free access as there has been a decision to remove tariff and non-tariff barriers on a number of products to expand trade,” he told reporters at the news conference.

Referring to the joint communiqué that said India would help Bangladesh in developing the infrastructure of both Chittagong and Mongla seaports, he said, “This will increase our revenue to a great extent from the present times.”

Asked about the opposition leader’s claim that the visit has been total failure, he said that the main thing is implementation. “We think this visit has been successful, but there is no right for us to mention the percentage of success.”

Replying to another question, the Standard Bank chairman said the loan of Tk 7,000 crore offered by the Indian government and the supply of 250MW power would speed up the development process of the country and also enhance business and trade.

Bangladesh Garment Manufacturers and Exporters Association President (BGMEA) president Abdus Salam Murshedy, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President M Fazlul Haque, Pran-RFL Group chief executive Maj. Gen. (retd) Amjad Khan Chowdhury, HA-MEEM Group managing director AK Azad and Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) 1st vice-president Abul Kashem Ahmed also spoke, among others.

BKMEA president M Fazlul Haque said they had a very successful meeting with the Apparel Promotion Council (APC) of India. During the meeting, the APC leaders assured the Bangladesh business delegation of raising the duty-free access of apparel products to 14 million pieces from the previous 8 million.

He opined that there is a bright prospect for Bangladesh on the market of India as the retail apparel market over there is around 27 billion US dollars with an 18% growth rate.

Asked why they were not able to maximize the opportunity of 8 million pieces of apparel products, Fazlul admitted the shortcoming, saying: “Our trend towards India is less and there is a gap between both sides. I think if we arrange single-country fair that may minimize the gap.”

BGMEA president Abdus Salam Murshedy also termed the visit successful as he said after the visit, “the distrust has been removed fully and I think the problem regarding visa will be removed as we have proposed specifically for five-year multiple visa.”

He said they would sign a MoU with Indian delegation that would arrive in the first part of February to have assistance in the fashion-technology institute run by the BGMEA. Indian Garment Exporters Association president Rakesh Vadh is also expected here.

Pran-RFL Group Chief Executive Amjad Khan Chowdhury said they have been exporting their products to India for the last five years and have recently started exporting plastic items.

“Our main market lies in Eastern India as there is a population of 25 to 30 crore. I think this is Bangladesh’s market and we should be a good player in this market,” the retired army general told the newsmen.