Industry

India seeks FBCCI’s cooperation in boosting bilateral trade

Indian High Commissioner to Bangladesh Vikram K Doraiswami has sought the cooperation of Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) to enhance bilateral trade between the two neighbours.

Referring to 94 percent trade growth with Bangladesh in last year, he mentioned the country’s (Bangladesh) exports to India is expected to reach USD $2 billion for the first time in the current fiscal year.

Doraiswami came up with remarks while paying a courtesy call on FBCCI President Md. Jashim Uddin at the FBCCI office in Motijheel and set a meeting on trade issues between the two countries.

He said India wants to improve trade and investment relations with Bangladesh in the areas of logistics, food processing, automobiles and garments.

Jashim said development of the logistics sector is the prime agenda of FBCCI. The apex trade body is working to submit a 12-year plan to the government for the development of the logistics.

On India’s trade potential with Bangladesh, FBCCI President said India could be a major supplier of yarn and cotton to the garment industry in the near future. Citing some of the Indian companies operating in Bangladesh, he said, they all are doing a great job.

So, the investment of other Indian entrepreneurs in Bangladesh has a huge potential to be profitable, he added.

During the meeting, FBCCI President called for the development of infrastructure in the Indian part of the land ports to boost bilateral trade. He said poor infrastructure hampers bilateral trade as many products cannot be exported from Bangladesh due to lack of facilities at Indian ports.

In response the Indian envoy informed that another new gate would be opened soon at Petrapole land port to facilitate the movement of trucks.

He also assured that development work for other land ports would be undertaken if these ports are permitted to trade more goods.

Doraiswami said his government was keen to facilitate trade between the two countries. So, the issue will get importance in the meeting of the secretary level next February.

The ambassador also hoped to launch a CEO’s forum between the two countries, the forum of chief executives of top India-Bangladesh companies that could play the most effective role in resolving the issue of bilateral trade.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Md. Habib Ullah Dawn, directors Rejaul Kariem Rejnu, Bijoy Kumar Kejriwal, Md. Shah Jalal, Mohammed Bazlur Rahman, Dr. Joshodha Jibon Deb Nath, CIP, Priti Chakraborty and Secretary General Mohammad Mahfuzul Hoque, among others, were present at the meeting.

Source: United News of Bangladesh