Cabinet okays pact to set up markets at Indo-Bangla border

New border haats will be established after consultation with the government of Bangladesh and concerned state governments The Dollar Business Bureau

At present, four border haats are already operational in Kalaichar, Balat on Meghalaya border and Kalasagar and Srinagar on Tripura border

The Union Cabinet on Wednesday gave its approval for the Memorandum of Understanding (MoU) signed between India and Bangladesh for setting up of border haats. The agreement on the mode of operation of such markets was signed between the two countries in 2010. As per the agreement, new border haats will be established after identification of suitable locations in consultation with the government of Bangladesh and concerned state governments. The MoU also allows modification/revision of the terms and condition in consultation with relevant state governments/central government agencies and government of Bangladesh. “The border haats aim at promoting the well-being of the people dwelling in remote areas across the borders of two countries, by establishing traditional system of marketing the local produce thorough local markets in local currency and/or barter basis,” an official statement said on Wednesday. Even though the move is not likely to have significant impact on the bilateral trade, it will help in improving economic well-being of marginalised sections of the society, the statement said. During the visit of Bangladesh Prime Minister to India in January 2010, the two neighbours had agreed to set up border haats on a pilot basis at selected areas, including on the Meghalaya border, to allow trade in specified products. Subsequently, an addendum to mode of operation of border haats across was also signed in May, 2012. At present, four border haats are already operational in Kalaichar, Balat on Meghalaya border and Kalasagar and Srinagar on Tripura border. The two countries have also agreed to establish two more border haats in Tripura and four in Meghalaya on the Bangladesh border.

January 06, 2016 | 04:45pm IST

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The Dollar Business Bureau - Jan 06, 2016 11:42 IST

Cabinet okays pact to set up markets at Indo-Bangla border

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