Bangladesh-India business cooperation urged to make up for lost chances
‘India, Bangladesh strong on govt-level ties but weak on business alliance’
Government-level cooperation between Bangladesh and India is strong but similar impetus should be given to business-to-business cooperation to unlock the trade benefits enjoyed by cross-border alliances in other parts of the world, business leaders from both countries said Tuesday.
Leaders from Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) and Bharat Chamber of Commerce made this comment during the Indian side's courtesy visit at FBCCI office. Later, a bilateral business-to-business (B2B) meeting was arranged with the participation of businessmen from a wide array of industries including garments, pharmaceutical, leather, jute, plastic, cement, steel, ceramic, energy, paper, railway parts and agricultural machinery.
The B2B meetings would take bilateral trade to new heights, it was hoped.
Keep updated, follow The Business Standard's Google news channel
FBCCI President Md Jashim Uddin said regional alliances in North America and Southeast Asia, among others, have greatly boosted national economies by strengthening trade ties. Saarc countries are trailing them by a big margin on business-to-business cooperation and Bangladesh and India should work closely to fill the bilateral gap.
FBCCI Vice President Md Amin Helaly called on business leaders from both countries to work in coordination with their respective governments to improve trade ties.
BCC President NG Khaitan said Indian investors are always eager to be part of Bangladesh's ongoing enviable development process, adding the big similarities in the structures of the two economies should naturally encourage both parties to strengthen trade ties.
Highlighting the opportunities for Indian businesses in Bangladesh, FBCCI chief Md Jashim invited Indian investors and businesses to exploit the huge regional connectivity potentials set to presented through the completion of Padma Bridge Rail Link and Bangabandhu Sheikh Mujib Railway Bridge projects by the middle of next year.
He also urged India's globally renowned agricultural equipment makers to set up factories in Bangladesh as the current government here emphasises modernisation and automation of the agricultural sector – opening up a big market for profit.
Indian delegation chief NG Khaitan said rural economies are the driving force in both Bangladesh and India, hinting business leaders can easily use their relevant experiences across the border and maximise profit.
