Despite India’s sudden cancellation of the transshipment facility for Bangladeshi goods, Bangladesh’s trade will not be significantly affected, said Commerce Adviser Sheikh Bashir Uddin.
Speaking to journalists at the Secretariat on Thursday, he however emphasised that Bangladesh is working to resolve the issue using its own capabilities.
“We spoke with various business stakeholders, including buyers, just yesterday. We’ll try to manage the situation on our own,” he stated.
The adviser highlighted that Bangladesh is focused on enhancing its commercial and logistical capacities to remain competitive. “We’re working to increase our trade capacity and improve connectivity so that there’s no shortfall,” he added.
India had introduced the transshipment arrangement on June 29, 2020, allowing Bangladeshi goods to pass through Indian territory en route to third countries. However, India’s Central Board of Indirect Taxes and Customs (CBIC) rescinded this order on Tuesday.
When asked about the next steps, the adviser mentioned that infrastructure and cost-related issues are being assessed. “We are hopeful that the challenges can be overcome,” he said.
In response to suggestions on social media about Bangladesh possibly retaliating by canceling transit facilities for India, the adviser said that was beyond his purview, stressing that his focus is on enhancing capabilities.
Regarding whether Bangladesh will send a formal letter to India on the matter, he replied, “We’re not considering sending a letter at this moment.”
He also noted that the temporary suspension of additional U.S. tariffs for three months offers Bangladesh some immediate relief and time for negotiations.