Border haat to enhance trade between India, Bangladesh opens in Tripura

India and Bangladesh inaugurated third border haat in Srinagar-Purba on the Tripura-Bangladesh border.

It was inaugurated by Union Commerce and Industries Minister Nirmala along with her Bangladeshi counterpart Tofail ahmed in the presence of Tripura Chief Minister Manik Sarkar.

This is the first border haat opened in state Tripura which shares 856-km border with Bangladesh.

Key facts of Border Haat

  • Haats in India Language means Rural Market. The aim of this border haat is to enhance border trade between the two countries.
  • It will also cater to the needs of the people living within a five km radius in this border area.
  • It will facilitate bilateral trade of 16 locally produced goods between both nations. It includes agricultural and horticultural crops, spices, poultry, dairy products, cottage industry items, furniture and handicrafts and hand-looms.
  • It will also boost people to people contacts between the two countries.

Background

  • Border haats along the border of two countries are established under a MOU for Border Trade and Border Haats. It was signed by the two countries in October 2010.
  • As per the rules and guidelines of this MOU, traders in communities of both India and Bangladesh can trade their local produce without any duty.
  • This bilateral trade will take place once a week in this haat and each trader is allowed to do business of US $ 100 per day.

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Categories: Business & Economy Current Affairs 2017International Current Affairs 2017

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