World Bank released a report highlighting the untapped potential of trade between India and Bangladesh. Titled 'Connecting to Thrive: Challenges and Opportunities of Transport Integration in Eastern South Asia', the report states that Bangladesh's exports to India could increase by 182 percent and India's exports to Bangladesh by 126 percent if the countries sign a free trade agreement.

About 10 percent of all global trade flows through the 120-mile-long canal, which allows tankers and container ships to avoid a long trip around the southern tip of Africa.

In this episode of Global Eye, CNBC-TV18 takes a quick look at major shipping crisis in Egypt’s Suez Canal. Suez Canal connects the Mediterranean to the Red Sea. It is the shortest sea link between Asia and Europe and it accounts for the 12 percent of global trade.

The USTR initiated the process despite US President Joe Biden’s renewed commitments to pursue a global agreement on DSTs through the Organization for Economic Cooperation and Development (OECD).