India-Bangladesh sign MoU under SAFTA
India-Bangladesh sign MoU under SAFTA India signed a memorandum of understanding (MoU) with Bangladesh on procedural arrangement for importing eight million duty-free apparel articles under South Asian Free Trade (SAFTA).
The MoU allows import of the apparel articles duty free and without any conditionality of sourcing of fabric or port restrictions.
The MOU was signed between India`s deputy high commissioner in Dhaka, Nukta D Tomar and Bangladesh`s commerce ministry joint secretary, Abdul Wahab Mia.
The move was backed by India`s attempt to import more products from Bangladesh to reduce the trade gap. The MOU is expected to add a new dimension in bilateral trade.
