New Delhi, Sept 29 (KNN) There is a huge potential for intra trade growth in South Asia which hasn’t been fully tapped yet, said Suresh Prabhu, Commerce & Industry Minister.

Launching a World Bank Group report on trade in South Asia, Prabhu said “Government will do everything possible to realize India's trade potential with countries in the region.”

He said, 47 billion dollar more trade can be done with South Asia by India, as reported by World Bank Group report.

“Just imagine there is someone next door waiting for that opportunity and we are not able to tap it, therefore, we will do everything possible," he added.

Prabhu further stated “During my visit to Bangladesh, I proposed that we should try to sign the Comprehensive Economic Partnership Agreement and we are working with our Bangladeshi counterparts to take it forward.”

Also to boost trade within the region, we have interesting ideas like adding more value to jute crop further to promote it to next level, he added.

With Bangladesh, “We have identified 7 rural haats, of which one or two will start functioning immediately,” said Commerce Minister.

Besides, he said that India and Bangladesh have agreed to upgrade trade logistics for seamless movement of cargo.

With Sri Lanka, “We have proposed CEPA and we are working closely to finalize a free trade agreement,” Minister added.

Speaking at the launch of The World Bank report – "A Glass Half Full: The Promise of Regional Trade in South Asia, Prabhu said “We are happy to move on to develop trade with other countries in South Asia.”

He also expressed his willingness to engage with the World Bank Report and said “we shall organize one small workshop on this and will direct my officers to take concrete actions on this report to realize the potential.”