BD bracing for talks with India on CEPA

Business Report :
Bangladesh is crafting strategies to start negotiations with India on the long-awaited proposed Comprehensive Economic Partnership Agreement (CEPA), sources said.
To this end, commerce ministry has sought opinions on trade in goods/services and investment on the CEPA from more than 58 state agencies and trade bodies to walk the talk.
According to the sources, Bangladesh is set to commence negotiations to strike the deal with its second-largest trade partner to increase trade and investment.
New Delhi has recently formed a committee in this connection. It will soon inform Bangladesh of beginning the negotiations, an official said.
In the December 2022 Indo-Bangla commerce minister-level meeting, Delhi sought some time for its internal preparation regarding the issue.
As an LDC, Bangladesh has duty-free quota-free (DFQF) market access of all but 25 tobacco and alcohol products to India under the South Asian Free Trade Area (SAFTA) and Asia-Pacific Trade Agreement (APTA) deals.
But Bangladesh will lose the DFQF facility after 2026 as it elevates to a developing country status.
Currently, Bangladesh is the largest Indian line of credit (LoC) recipient. Both countries exchange bilateral trade, treatment, education, tourism and professional services.
On the CEPA, commerce ministry has already formed two committees-an advisory committee (AC), led by commerce minister Tipu Munshi, and an 11-member trade negotiations committee (TNC).
According to the Regional Trade Agreement (RTA) Policy-2022, the TNC of Bangladesh would carry forward the negotiations in cooperation with the Indian TNC and periodically report to the competent authorities.
On the other hand, the AC will closely monitor the overall activity of the TNCs and provide necessary suggestions in case any situation arises during the negotiations.
Bangladesh and Indian premiers in a joint statement last September instructed the officials concerned to start negotiations within 2022.