"India alone cannot meet the demand. It's simply impossible," he told the businesses here yesterday, amid concerns stemming from the ongoing negotiations on Safta and bilateral FTA with the neighbouring country.

The minister came up with the observations at a donor-sponsored seminar at

Dhaka Chamber of Commerce and Industry (DCCI), dispelling apprehension by a section of businesspeople and experts about losing competitiveness to Indian products.

The DCCI and the World Bank jointly organised the seminar on Safta and FTA, with DCCI President Fazle RM Hasan moderating the brainstorming on business.

Economists, trade experts and businessmen stood split over prospects and risks of striking bilateral and regional free-trade agreement, with particular focus on challenges from India.

The minister attempted to persuade the sceptical ones that Bangladesh has developed a negotiating capacity incorporating experts and business leaders in the team that "successfully" performed at the Cancun conference, and was getting better and better.

He also defended that the country has already diversified products like CR coil, bicycle and confectioneries while some others coming up soon.

Analysing the risks of non-tariff barriers, he referred to the case of China, saying that the multilateral trading system is now well conversant with the fact of non-compliance and heavily undervalued currency.

"The system will take care of making a level playing field," he told his business audience, stressing that what should be given emphasis in this part is to address the issue of product standards.

Responding to the fears about phasing out of quota regime, the minister struck a note of confidence: "not all bad news".

In his welcome address, DCCI president Hasan said that the business community was looking for a better treatment under the new agreement of Safta and proposed bilateral FTA with Sri Lanka, Pakistan and India so as to equitably share the gains of increasing trade.

World Bank Economic Advisor Dr Newfarmer made a presentation on Safta, highlighting prospects for Bangladesh, despite challenges. World Bank economist William J Martin dwelt on FTA potential.