Bangladesh-Siliguri-Bhutan corridor to enhance trade, strengthen economic ties, say businessmen

In a bid to boost trade and strengthen economic ties among neighbouring nations, businessmen from the region are advocating for the development of a Bangladesh-Siliguri-Bhutan corridor, reports Indian media.

At the recently concluded BIMSTEC business conclave in Kolkata, held in an effort to enhance regional cooperation, entrepreneurs emphasised the importance of improving road connectivity in India's North Bengal, which would facilitate trade volume growth and generate employment opportunities.

Rabiul Alam, the managing director of Shams Group of Companies, Bangladesh, emphasised the need to develop river routes between Bangladesh and the northeastern states of India. Currently, cargo ships travel empty from Bangladesh and return laden from India, resulting in a significant trade imbalance. Reviving the river routes would create a more balanced trade relationship and benefit both nations.

Aviral Jain, the chief of Pristine Hindustan Infraprojects Projects Private Limited, highlighted the potential of Siliguri's rail network as a key transportation hub for all three countries involved, allowing consignments to be efficiently transported to Kolkata and beyond. Jain pointed out that the strategic location of ICD Dabgram, the first rail-linked dry port in North Bengal, enables it to serve as a gateway for landlocked countries such as Bhutan and Nepal, as well as transit shipments for Bangladesh.

Gopal Waiba Lama, the MD of Sunrise Export in Bhutan, expressed the country's reliance on road transport, which is insufficient for handling the volume of trade. Lama proposed the development of waterways, leveraging Bhutan's two important rivers, to facilitate the transportation of goods to India and Bangladesh. He also emphasised the potential benefits of establishing a water port at Lhamoizingkha in south Bhutan, which would greatly facilitate trade and commerce.

Lama further highlighted the potential of the Eastern Waterways Grid, which could revitalize the economies of Bhutan, Nepal, India, and Bangladesh. By leveraging water transportation, these nations could enhance trade relations and stimulate economic growth.

The development of the Bangladesh-Siliguri-Bhutan corridor, along with the improvement of road connectivity and the revitalization of river routes, holds great promise for the participating countries. It is anticipated that these initiatives will foster increased trade, job creation, and stronger economic ties among Bangladesh, Siliguri and Bhutan ultimately benefiting the entire region.