Bangladesh Prime Minister Sheikh Hasina on Friday pitched for higher trade and investments from India, pointing to the huge potential the neighbouring country has and its liberal norms and ease of doing business policies.

“We are in the process of setting up 100 special economic zones. About a dozen of them are ready with four allotments to three countries. Bangladesh has offered three zones to Indian investors at Mongla, Bheramara and Mirsarai. Substantial investment from Indian investors in these three zones would help broaden our export base,” Hasina, who is on a four-day visit to India, said at an event organised by Assocham, CII and Ficci.

Commerce minister Piyush Goyal said Indian businesses should explore the opportunities in the neighbouring country.

“There are so many areas where businesses of both the countries can increase cooperation. Grab the opportunity that Bangladesh offers,” he said.

According to Hasina, Bangladesh has a very liberal investment policy, including legal protection to foreign investment, generous tax holidays and concessionary duty on the import of machinery. Unrestricted exit policy, full repatriation of dividend and capital on exit are among the other advantages.

“We also want to see trade and investment together where Indian big investors can set up industries in Bangladesh and export the products to the northeastern states of India and to South-east Asian countries, taking advantage of the improved connectivity between us,” Hasina said.

The Prime Minister said that strategic location of Bangladesh provides tremendous potential for the region to become an economic hub.

With India on the west, China on the north and Southeast Asia on the east, Bangladesh is in the middle of a combined market of 4 billion people, she said.

She said Bangladesh was expecting a GDP growth rate of 8.2 per cent this fiscal.

“The balance of trade is still largely in India’s favour. The volume of trade between the two countries is nearly $10 billion. In 2018, Bangladesh was India’s eighth largest export destination with $8.8 billion exports and our shipments to India also crossed $1 billion for the first time last year. So, there is lot of scope to further deepen our relations in trade and investment,” she said.