Bangladesh must draw a suitable plan in consultation with experts on the use of its gas and mineral resources before allowing foreign investments in energy sector, OL Nongtdu, leader of a visiting 20-member team of Chemical and Allied Products Export Promotion Council (Capexil) of India, said after a meeting with Chittagong Chamber of Commerce and Industry (CCCI) members.

He said, "I would suggest at least some sorts of restrictions instead of wholesale sale or export of gas in the name of attracting foreign investment."

"The future of your country will be at stake after some years when you discover that you run out of gas reserve. So, take a right decision and make good plan now to ensure the best use of your own resources," said Nongtdu, who is also the co-chairman of Meghalaya Industrial Development Corporation Ltd.

Referring to the 'Indonesian-experience', the Capexil team leader said the overall economy and progress of Indonesia is now on the waning track because of putting too much faith in so-called 'openness'.

"Korea is going to suffer the same," Nongtdu added.

At the meeting with the CCCI, he said "Proper use of Chittagong Port, free movement of people and materials and easy transportation across the borders could be the best tools to boost bilateral trade."

Nongtdu urged the CCCI members to identify the items, which both the countries can reap benefit from.

"I request you not to compete with same items. If we continue competing with same items, the trade gap will not be reduced," he said.

CCCI Senior Vice President SM Nurul Hoque said trade gap between the two countries in the last couple of years was over US$ 100 crore, which is in favour of India.

"India should import more goods from Bangladesh in order to help reduce the trade gap," he said urging the Indian government to eliminate all types of para-tariff and non-tariff barriers.