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04/05/2013 03:23pm

Bangladesh calls for a common currency for south Asia

image Bangladesh calls for a common currency for south Asia
New Delhi, May 4 (KNN) Bangladesh has called for a common currency for south Asia to ensure greater economic integration within the region.

“A common currency is the need of the hour in south Asia to promote trade and investment.  Introduction of such currency will facilitate greater economic integration within the region,” said Finance Minister of Bangladesh, AMA Muhith.

He was addressing the meeting, ‘Boosting Sub-Regional Development through Increased Investment and Trade’ organized by the Confederation of Indian Industry (CII) here.
 He further added that India and Bangladesh should initiate the common currency trade even if other south Asian nations do not agree.

Acknowledging the importance of transit and transshipment for seamless movement of goods across the border, Bangladesh’s Finance Minster also called for improving infrastructure for successful economic integration.

Besides, Governor of Bangladesh Bank, Atiur Rahman invited the Indian industry to explore investment opportunities in sectors like infrastructure including energy, healthcare, information technology, land customs station development, airports and tourism.

“FDI policy in Bangladesh is the most liberal in South Asia.  Now investors can open their offices in Bangladesh immediately after successful documentation and the limits for remittances of salaries of expatriate employees have also been increased from 50 per cent to 75 per cent,” said Rahman.

Also speaking on the occasion, India – Bangladesh Chamber of Commerce and Industry (IBCCI), President, Abdul Matlub Ahmed appreciated the Government of India for allowing duty free market access to Bangladeshi products and easing the VISA procedure. (KNN)

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