The first meeting of the Bangladesh-India Joint Working Group (JWG) on the establishment of Indian Economic Zones (IEZs) in Bangladesh was held at the Pan Pacific Sonargaon Dhaka, May 10, 2016.
The Bangladeshi delegation was led by Mr. S. M. Shawkat Ali, Executive Member (Additional Secretary), BEZA and the Indian delegation was led by Ms. Sripriya Ranganathan, Joint Secretary (Bangladesh & Myanmar), Ministry of External Affairs.
The two sides discussed in detail about the modalities of establishing IEZs in Bangladesh. Indian side informed in the meeting that they have selected firms to carry out feasibility study and the Indian High Commission in Dhaka will carry out the EIA and SIA. All the process in this regard will be completed within 6 (six) months. They also wanted to know about the modalities being followed in case of the G to G EZs and they appreciated BEZAs initiatives of forming Special Purpose Company (SPC) in case of China EZ and described it as the best model to follow to make the EZ viable.
In regards the utilization of the 2nd Line of Credit (LOC) of US$ 88 million for Bheramera and Mongla IEZs, it was decided by both sides that the said LOC could be immediately activated for the IEZ planned in Bheramera. For the Mongla site, it was decided that utilization of the LOC will be finalized once the feasibility study was completed. If the Mongla site is not considered feasible, it was decided that the LOC could be utilized for an alternate site agreed to by the two sides.
On the US$ 90 million LOC for IT SEZs in Keraniganj and Mirsarai areas, the Indian side conveyed that necessary initial approval have been obtained and the formal sanction will be conveyed to the Bangladeshi side shortly.