FBCCI, CII to signal MoU on Indo-Bangla trade

30 Jun 2020 9:12 AM
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With the purpose of rendering a platform to go over the emerging business and investment opportunities and the underlying challenges of bilateral trade between Bangladesh and India in the new paradigm shift due to the ongoing pandemic; the Confederation of Indian Sector (CII) has recently organized an electronic conference, titled ‘Digital Conference on Employing Bangladesh: Opportunities and Problems’.

Sheikh Fazle Fahim, the President of the Federation of Bangladesh Chambers of Commerce & Sector (FBCCI), delivered an inauguration speech at the webinar, presided over by Shri V Muraleedharan, the Hon’ble Union Minister of Condition for External Affairs & Parliamentary Affairs of the federal government of India.

Speaking by the webinar the President of FBCCI explained, “The bond of heritage, culture, and humanity between India and Bangladesh possess lead by illustrations. May those who contributed to your highest level bilateral shared values receive their deserving acknowledgment as a symbol of humane contribution spearheaded by HPM Sheikh Hasina and HPM Narendra Modi. Since 2008, we happen to be experiencing shining examples of a positive style for greater engagements and cooperation. In 2019, we yielded US$9bn in bilateral trade.”

Commending leaders of both nation for the humane bilateral contribution in functioning together in mobilizing the SAARC Covid-19 Unexpected emergency Fund of which Bangladesh features pledged All of us$1.5million, the president said,  “From FBCCI we anticipate working closely with this Indian counterparts to handle the brand new challenges and seek your support and cooperation in rebuilding and recovering from this crisis”

FBCCI has determined the Bilateral Worth Chain Initiative (BVCI) as the way forward: backward linkage raw materials from India to Bangladeshi development, for domestic marketplace, finished goods DFQF marketplace usage of India and beyond. Light engineering, agro-processing, chemical, outfits, etc may be of the highest concern in undertaking bilateral worth chain initiatives (BVCI) according to its president.

Highlighting the necessity for a collaboration this individual said, “Land port challenges is there which we happen to be confident to work through through public-exclusive engagements. In the innovation front, Joint R & D in futures of works requested skills, Understanding transfer, and JV in 4IR, Fintech, IoT, robotics, Big Data, Info Analytics, quantum computing, quantum internet, etc will be areas where we can work on.”

“A Mou between FBCCI and CII can be an initiation of targeted and centered cooperation to increase on bilateral benefit chain initiative (BVCI) beyond our nations”, he added.

Thanking the ally nation because of their support in featuring medical supplies and devices to Bangladesh FBCCI’s president explained, “Fbcci symbolic goodwill gesture to your good friends in India will reach shortly.”

Ms. Riva Ganguly Das, Indian Large Commissioner to Bangladesh going to the webinar said, “Both the nations have extended infrastructure between both lands to ensure smooth import and export. We now have more alternatives to empower bilateral trade by capitalizing on that developed infrastructure. For instance, the huge rail network between your two-nation can be a good case in point. The export and import of products through the rail network could be beneficial for both the nation.

Mr. Abdul Matlub Ahmad, the President of India Bangladesh Chamber of Commerce and Sector(IBCCI) expressing his remarks on the issue stated, “The trade and organization community has got been thriving on the friendship between the two countries-a relationship that has led to the development of both nations both politically and economically. We are able to do even more.”

Md. Sirazul Islam, Executive Chairman, Bangladesh Investment Production Authority (BIDA) explained, “India and Bangladesh are countries that share common roots. It is our closest neighbor and the best of allies whose contribution in our Liberation War in 1971 is merely unparalleled in the annals of nations. You want to even more cement our alliance for our shared financial fascination and for the good of our people.”

Providing the keynote speech, the Point out Minister of Exterior Affair of India explained, “Bangladesh possesses been the largest South-Asian ally. The leaders of both nation have undertaken countless infrastructural transformational projects that contain incurred business development with regards to import and export between your countries. We've seen a successful relation within the power and strength sector and both country can capitalize on so much more.”

Mr. Muhammad Imran, the Bangladesh Large Commissioner to India; Mr. Chandrajit Banerjee, Director Standard, CII; Mr. David Rasquinha, Managing Director, Exim Bank of India also sent on bilateral trade between the two nations within their speech.