Bangladesh and India have agreed in principle to set up more border haats (village markets) along the common borders of the two countries in future considering the local demand. The agreement was reached at a two-day Bangladesh-India commerce secretary level meeting recently at the ministry of commerce in the capital. A decision was taken in the meeting to expedite the procedure of setting up six more border haats within the next six months. At present there are four border haats along the Bangladesh-India borders.

An India-Bangladesh border haat is a border trade market between Bangladesh and India. It is a marketplace organised by the two countries one day each week. It is not only a market for buying daily commodities but also a reunion spot for families living on both sides. It is encouraging to note that currently four border haats are operational along the India-Bangladesh border. Two border haats are located in Meghalaya at Kalaichar and Balat and two are located in Tripura at Srinagar and Kamalasagar. The trade at border haats is permitted to be carried out in Indian Rupees/Bangladesh Taka and on a barter basis; and data of such trade is maintained by the haat management committee of the respective border haat.

As per data furnished by the concerned state governments, cash trade equivalent to Indian Rupees 1686.62 lakhs was carried out at the said four border haats in the five year period ending 2015-16. The border haats aim at promoting the wellbeing of the people dwelling in remote areas across the borders of two countries by establishing a traditional system of marketing the local produce through local markets. There is ample scope to form comprehensive economic partnership between India and Bangladesh considering the existing situation and friendly relations persisting between the two countries. Besides, both the countries can gradually strive for infrastructural development and necessary facilities of the land customs ports along the Bangladesh-India borders alongside ensuring speedy offloading of goods from those land ports.

As India is the 2nd largest trade partner of Bangladesh, the volume of bilateral trade between the two countries rose to $6.8 billion in the last fiscal year (FY17). A business-friendly environment through boosting bilateral relations between the businesses of the two countries can benefit both the countries. The two-way trade between the two countries is still in favour of India as Bangladesh imported goods worth $6.13 billion in the last fiscal against the exports of $672.4 million. Efforts should be made to minimize this trade gap and barriers, promoting business-friendly environment between the two countries.