Sonowal was inaugurating the two-day India-Bangladesh Stakeholders' Meet here on Tuesday.
"A climate of mutual trust and confidence, respect for each other's sensitivities and concerns, and peace and stability are essential to realise the enormous potential in our relations," Sonowal said. The political and business leadership of both the countries must work on common interest to achieve common goals, he added.
The Chief Minister said after the signing, exchanging and adoption of several bilateral agreements between the two countries, the potential for growth of trade between north-eastern states and Bangladesh had increased manifold.
Stating that tea and petroleum products earlier reached Chattogram and Kolkata Ports through the Brahmaputra-Padma-Meghna riverine waterways as well as railway lines passing through present day Bangladesh, Sonowal said revival of this communication network would facilitate economic growth of the region.
He urged delegates to iron out all issues to finalise the standard operating procedures (SOP) to ensure speedy implementation of agreements, which would ensure access of to Chattogram and Mongla Ports of Bangladesh for the northeast, and execution of the BBIN motor vehicle agreement.
Sonowal said the Centre's Act East Policy had given renewed vigour to development in the northeast, turning the region into the centre of New India's growth vision and implementation within a short time.
He lauded the leadership of Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina for their efforts to forge a more meaningful and mutually beneficial relationship.
The Chief Minister also pointed to the historical relationship between the people of Assam and Bangladesh, which was based on shared culture, heritage, literature and language.
( With inputs from IANS )