“Bangladesh will move to strengthen diplomatic and trade relations to establish air, water, and road connectivity with Burma.”

“Bangladesh's Commerce Secretary M. Ghulam Hossain and the Deputy Commerce Minister of Burma will lead their delegations respectively at the joint trade commission (JTC) meeting.”

“The foreign office consultation between the two countries will take place next month, while Dhaka and Rangoon are in talks over the schedule for a joint shipping committee meeting.”

"Our target is to increase cooperation between the two neighbouring countries. Export, connectivity, electricity import, border trade, visas for businessmen, trade financing, and cooperation in the fishing sector will be top of the agenda for the meeting," Commerce Secretary M. Ghulam Hossain said.

Bangladesh is offering six river ports (Teknaf, Cox's Bazaar, Chittagong, Narayanganj, Dhaka, and Khulna) to Burma for use in exchange for similar facilities from that country which will be finalised in the joint shipping committee meeting, according to an official source.

“Burma has vast unutilized lands, and there is scope to produce food grains,” said commerce ministry officials.

"Bangladesh can import essential commodities like rice, lentils, spices, vegetables, prepared food, and fish at lower prices from Burma, which can help ease commodity prices in the country," a senior trade official said.

"So, we want to remove the hurdles and expedite trade with Burma," he added.

"Burma has the capacity to supply essential items as much as Bangladesh wants. So, if we request them, they will be able to produce and supply items according to our requirements," he said.

Bangladesh had earlier planned farming in Burma by leasing its land. But the effort limped due to bureaucratic complexities.

Officials said the next meeting will review the progress in banking arrangements between the two countries. Currently, Bangladesh and Burma, both members of the Asian Clearing Union (ACU), settle trade-related payments through Sonali Bank and the National Bank of Burma with help from banks in Singapore.

At present, traders of the two countries can open letters of credit (L/Cs) of up to $50,000, which was recently raised from $20,000, against the trading of essential commodities, while the limit for other commodities has been raised to $30,000 from $10,000. Bangladeshi businessmen had been demanding an increase in both the limits.

First, direct water connectivity will be started between the Akyab port of Burma and the Chittagong and Teknaf ports of Bangladesh. Once the direct connectivity starts, the import costs of commodities will be reduced by 67 per cent. Besides, it will help expansion of the private sector shipping business, the sources added.