“To achieve the target, we’ll increase export and import between the two neighboring nations, as we have huge potentials for that,” he said while addressing an FBCCI meeting with the visiting Myanmar business delegation at its conference room.

He, however, regretted that the business potentials between the two countries cannot fully be exploited due to poor road communication and banking system, lack of air connectivity and complicated visa process.

According to available statistics, the total trade volume between Bangladesh and Myanmar was US$27 million in 2007 although a target had been set in 2004 to raise the trade volume to US$100 million.

The Adviser said Bangladesh and Myanmar have agreed to arrange a trade fair of Bangladeshi products in Yangon on January in 2009.

Zillur also said the government is keen to sign a deal with Myanmar to import 1 lakh metric tons of agro-products for creating a buffer stock in the country to ensure food security.

He also said government officials will visit Myanmar next month smooth trade and remove trade barriers.

Myanmar Commerce Minister Brig Gen. Tin Naing Thein, National Planning and Economic Development Minister Soe Tha, FBCCI President Annisul Huq and Bangladesh Myanmar Business Promotion Council Chairman Syed Mahmudul Huq were, among others, present at the meeting.

The meeting focused on increased economic cooperation between Bangladesh and Myanmar, as economies of the two countries are primarily based on agriculture.

The meeting was told that there are 131,000 hectares of cultivatable wasteland and 33,000 hectares of fallow land available in the Rakhine state where Bangladeshi businesspeople can invest under current agricultural land lease policy of Myanmar.