Bangladesh started foreign trade with India in Indian rupees

 



Bangladesh started foreign trade with India in Indian rupees.  Bangladesh is suffering from dollar crisis for almost a year.  There is a danger that the economy of Bangladesh will collapse.  


Many experts fear that Bangladesh's economic situation may resemble that of Sri Lanka, citing Sri Lanka's deep economic crisis as an example.  In order to get rid of this situation, Bangladesh started trading with India in Indian rupees to keep the country's import system running.  The initiative was officially launched on Tuesday, July 11 at a ceremony in Dhaka.  Indian Ambassador to Bangladesh Prannoy Verma was present on the occasion.  As a result, India-Bangladesh foreign trade will be facilitated and Bangladesh's trade deficit will be reduced, he expressed hope.



 According to international relations experts, over-dependence on China has weakened Bangladesh's economy.  Leaving a true friendly country like India away, China has stepped into Bangladesh's trap.  Sri Lanka's economic situation collapsed due to the same reason.  Learning from Sri Lanka's example, Bangladesh's recent about-turn towards India will strengthen their economy.Bangladesh has the highest import expenditure in India after China.  Last year, 18.10 percent of Bangladesh's import expenditure went to India.  The value of which is 1,369 million dollars.  On the contrary, India has imported only 199 million dollars worth of goods from Bangladesh.

To protect the import sector from the dollar crisis, Bangladesh started trading with India in Indian rupees.  Prannoy Verma, Indian Ambassador to Bangladesh said, "As a result of this initiative, India-Bangladesh foreign trade will be facilitated and Bangladesh's trade deficit will be reduced."


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