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Bangladesh and Mexico have signed a Memorandum of Understanding in a bid to heighten bilateral trade between the two countries up to $1 billion annually.
As both sides agreed to work together to expand trade and investment, apex trade bodies of the two countries inked a MoU in Mexico city on Sunday to that effect.
The representatives of Federation of Bangladesh Chambers of Commerce and Industries and Mexican Business Council for Foreign Trade, Investment and Technology signed the MoU on behalf of their respective countries.
In absence of FBCCI president Md. Jashim Uddin, its director Amzad Hussain and Augustin Garcia Rechi, vice president for Asia Pacific Trade Section, COMCE signed the MoU.
The MoU signing ceremony was attended, among others, by Shahriar Alam, state minister for the Ministry of Foreign Affairs of Bangladesh, Abida Islam, ambassador of Bangladesh to Mexico.
Currently, the annual bilateral trade between the two countries is approximately over $400 million
Under the signed MoU, the two countries will exchange technical skills and technology as well as training among the members of the two apex trade bodies.
Apart from boosting investment and business between the two countries, both the two trade bodies will also help encourage exchange of trade delegations for establishing networking among them.
As per the MoU, the representatives of two countries have agreed to increase joint ventures investment and to provide maximum assistance in overcoming all the complications related to expanding bilateral trade.
Both parties will encourage businessmen to participate in trade fairs, exhibitions, conferences, seminars and other business activities in their respective countries, according to the MoU.
The both countries also agreed to undertake joint research activities to improve trade relations between the two countries and exchange information on various publications and business prospects, including magazines and directories under the agreement.
