Basic agreement' signed: Faruq.............

The commerce minister has said the government signed a 'basic agreement' with India in line with the 2006 Indo-Bangla Trade Deal.

"The eighth clause of the deal allows both countries to transport goods through each other's road, rail and waterways, but a separate agreement or protocol has to be signed for that," Faruq Khan said on Monday.

"Experts from both countries will discuss the details before finalising the protocol," the minister told reporters at his ministry after the framework deal had been signed at a local hotel earlier in the day.

Faruq and visiting Indian external affairs minister Pranab Mukherjee signed the agreement.

About the pact, the commerce minister said the Indo-Bangla trade deal was first signed in 1980 and its 13th clause requires the signatories to renew it every three years.

"This condition was fulfilled until 2001 before some changes to the contract were made. The pact was last renewed in 2006."

"In the light of the three-year contract, there are options for talks to expand business, but that too need signing of fresh protocol on recommendations by the experts."

"But there will be no contract at the cost of nation's interests or security," he clarified.

About the newly signed 'framework agreement', Faruq said, "Transportation of commodities through roads, rail and waterways are allowed in it."

"Stoppages, customs check-posts and transportation charges are fixed in the deal and approved types of goods are also defined clearly."

He said trade deficit, duty-free access for and non-tariff barrier to Bangladeshi products and assistance in boosting trade with Bhutan and Nepal surfaced in the bilateral talks with the Indian minister.

"The Indian minister has assured of help in those areas," he said.

About the opposition parties opposing the deal, Faruq said, "We are not signing a new deal and trade should not used as a political tool.

"We have stayed backward over the last 38 years seeing the trade gap only widen."

About the criticism of the proposed TIFA with the US, South Asian antiterrorism taskforce and transit deal with India by the opposition, the minister said, "We believe they (opposition) are concerned about the welfare of the country and the government will not do anything against the country's interests."

"There are still a lot to discuss about TIFA."

"And the South Asian antiterrorism taskforce would not be confined to Bangladesh and India only, that will be a joint force of all eight SAARC members," he said.