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BCI, BCC sign deal to expand bilateral trade

Staff Correspondent
19 Mar 2023 18:13:22 | Update: 19 Mar 2023 18:18:24
BCI, BCC sign deal to expand bilateral trade
— Courtesy Photo

The Bangladesh Chamber of Industries (BCI) on Sunday signed a memorandum of understanding (MoU) with the Bharat Chamber of Commerce (BCC) to boost bilateral trade and investment between the two countries.

BCI President Anwar-ul Alam Chowdhury Parvez and BCC President NG Khaitan signed the MoU at the BCI office in Dhaka on behalf of their respective organisations. Leaders of the two bodies believe that the MoU will open a new door in terms of business expansion in both nations.

According to the deal, the two countries will exchange business information, and expand cooperation. Moreover, the BCC will set up a “Dhaka DEX” in its office in India, and the BCI office will have “Kolkata DEX.”

Under the MoU, they will also exchange information about opportunities to participate in trade fairs, exhibitions and seminars in Bangladesh and West Bengal. The two chambers will also work to develop business and investment in both countries.

BCI President Anwar-ul Alam Chowdhury said Bangladesh currently has various potential sectors such as light engineering, agro-based industrial sector, blue economy and information technology where India can cooperate and work in joint ventures.

There are also opportunities to work on technical and skill development and training.

BCC President NG Khaitan said Bangladesh and India are fast-growing economies and densely populated countries where our strength is our huge numbers of consumers.

He added, “We agree with the BCI president and we will start joint ventures in potential sectors including skill development and training, light engineering, and agro-based industries.”

Bharat Chamber wants to organize a business summit in Kolkata next year, and they invited the BCI to the summit.

After signing the deal, the delegation led by BCI president and BCC president had a courtesy call on Commerce Minister Tipu Munshi, and Foreign Minister Md Shahriar Alam.

During the meetings, they discussed different issues for the development of business and trade between the two countries. On March 18 this year, a 14-member delegation led by BCC President NG Khaitan came to Bangladesh on a 3-day visit following the invitation of BCI.