IBCCI calls for greater investment, trade reforms and regional integration

The India-Bangladesh Chamber of Commerce and Industry (IBCCI) has called for stronger investment flows, improved business conditions and deeper regional economic integration to accelerate growth in Bangladesh and South Asia.

Speaking to a group of journalists in the capital recently, IBCCI President Md Moshiur Rahman said Bangladesh and India should focus on removing trade barriers, improving connectivity and creating a more investment-friendly environment to unlock the full potential of bilateral and regional commerce.

Rahman said Bangladesh and India currently conduct bilateral trade worth around $11-$13 billion annually, with India exporting significantly more goods to Bangladesh than it imports.

He expressed optimism that bilateral trade could reach around $20 billion within the next five years if both countries address longstanding tariff and non-tariff barriers and improve transport and border infrastructure.

He identified customs delays, complex documentation procedures, infrastructure constraints at border points and differences in product standards as some of the key challenges affecting trade between the two neighbours.

Greater policy harmonisation, digitalisation of trade processes and improved coordination between authorities would help facilitate smoother cross-border commerce, he said.

On the investment climate, the IBCCI president acknowledged Bangladesh’s progress in infrastructure development, the establishment of special economic zones and policy reforms aimed at attracting investors.

However, he noted that bureaucratic delays and regulatory complexities continue to pose challenges for businesses.

“Continued reforms and simplification of processes will encourage more investment,” Rahman said, adding that investor confidence depends on transparency, economic stability and efficient institutions.

The business leader also highlighted the economic achievements of Bangladesh over the past 54 years, describing the country’s transformation from a war-ravaged economy into a middle-income nation as remarkable.

He pointed to the growth of the garments sector, remittance inflows, agricultural development and improvements in education, health and infrastructure as major contributors to the country’s progress.

Regarding the impact of the ongoing conflict in the Middle East, Rahman warned that Bangladesh’s dependence on imported energy makes it vulnerable to global market disruptions.

He said the government’s substantial energy subsidies demonstrate its commitment to maintaining price stability for consumers and industries, while stressing the importance of diversifying energy sources and increasing domestic production to reduce future risks.

Looking beyond bilateral ties, Rahman said IBCCI sees considerable potential for expanding trade among members of the South Asian Association for Regional Cooperation (SAARC), including Bangladesh, India, Pakistan, Sri Lanka, Nepal, Bhutan, the Maldives and Afghanistan.

He said the chamber is promoting deeper regional economic integration through stronger business-to-business links, regular trade dialogue and cooperation in sectors such as textiles, agriculture, pharmaceuticals and services.

IBCCI also supports initiatives aimed at improving regional connectivity and reducing tariff and non-tariff barriers across South Asia.

Rahman further underscored the prospects of Bangladesh’s blue economy, citing opportunities in fisheries, aquaculture, shipping, coastal tourism and offshore resources.

With appropriate investment and sustainable management, he said the sector could become a major contributor to national economic growth.

On Bangladesh-India relations, Rahman said the two countries share a longstanding partnership built on geography, culture, trade and people-to-people contacts.

He expressed confidence that cooperation in trade, energy, connectivity and regional security would continue to expand in the coming years.

IBCCI, he added, remains committed to acting as a bridge between the business communities of the two countries by facilitating trade dialogue, promoting investment opportunities and supporting stronger economic cooperation.