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DCCI urges Indian businesses to invest in Bangladeshi EZs

Staff Correspondent
26 May 2022 14:22:43 | Update: 26 May 2022 14:52:15
DCCI urges Indian businesses to invest in Bangladeshi EZs
— Courtesy Photo

Dhaka Chamber of Commerce and Industry (DCCI) has urged the Indian entrepreneurs to invest in the economic zones (EZs) in Bangladesh, that have already been completed for operation.

“Pharmaceuticals, footwear, energy, food processing, light engineering, ICT are some of the areas where Indian investors can tap the opportunities,” DCCI President Rizwan Rahman said during an industry interactive meet with the Calcutta Chamber of Commerce at a hotel in Kolkata on Wednesday.

A 47-member business delegation from the DCCI is now visiting Kolkata, the capital of India's West Bengal state, to explore new business potentials, a press release said.

Rizwan Rahman, who is leading the delegation, said that the bilateral trade between Bangladesh and India hovers at $9.87 billion, having a potential of $16.4 billion forecast by the World Bank.

The DCCI chief said the initiative of signing a comprehensive economic partnership agreement (CEPA) between the two neighbouring countries will usher a win-win situation for both end businesses.

He also sought joint collaboration on different non-tariff issues which hinder the business scopes.

During the meeting, Calcutta Chamber of Commerce President Shailja Mehta said India is the biggest trade partner of Bangladesh in South Asia.

“Toward achieving advantageous trade figures, both nations need to diversify trade with active industry participation,” she said.

Mehta said that better market access, improved physical connectivity and transit, and energy trade between India and Bangladesh are important instruments for unlocking bilateral trade potential.

She termed tourism as one of the important areas having huge potentials to tap into.

Later, an interactive B2B matchmaking session was held where members of Dhaka chamber’s business delegation and Calcutta Chamber of Commerce took part.