Investment, business scope: Indian delegation keen on visiting Bangladesh
Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
An Indian delegation would like to visit Bangladesh, in order to understand the investment and business opportunities available in the two economies of South Asia.
Kolkata-based Bengal Chamber of Commerce and Industry (BCCI) conveyed its interest in visiting Bangladesh on 17-21 February 2023, led by its president Subir Chakraborty.
Bangladesh deputy high commissioner, Kolkata, in the last month requested the commerce ministry to take steps regarding the issue.
An official of the commerce ministry said they are working on it. BCCI would explore and promote a stronger relationship with the business communities of Bangladesh in various sectors.
The objective of the delegation would be to understand the business and investment opportunities available in the two economies of South Asia and to explore avenues for collaboration.
The chamber is looking for Business to Business (B2B) meetings in areas including but not limited to manufacturing and engineering, power IT and ITES, education and skill development, agriculture, shipping and logistics.
The delegation is also expected to hold meetings with some ministries and the government agencies concerned, for instance, commerce, power, energy and mineral resources ministries; Information and Communication Technology Division under the Ministry of Posts, Telecommunications and Information Technology; Bangladesh Investment Development Authority (BIDA); and Bangladesh Economic Zones Authority (BEZA).
The country's overall exports to India reached US$1.99 billion in the last fiscal year (FY '22), marking a robust 55 per cent year-on-year growth.
Bangladesh shipped goods worth $1.27 billion to the neighbouring country in the fiscal year 2020-21 or FY '21, according to an Export Promotion Bureau (EPB) data.
The FY '22 export earnings surpassed the pre-pandemic level income, which was $1.24 billion in FY '19, the EPB data showed.
However, the country's trade cap with India continued to widen in the period.
Bangladesh imported goods worth $8.59 billion in the FY '21, according to data available with the central bank.