A visiting delegation of the Indian Chamber of Commerce (ICC) has proposed to launch the Bimstec Chamber of Commerce to promote trade and commerce amongst the member states.
Foreign Minister Dr AK Abdul Momen appreciated the idea and assured of extending necessary support in this regard, the foreign ministry said.
The delegation met the foreign minister on Monday at his office.
Bimstec or the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation is a regional multilateral organization of seven countries – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand - that connects South and Southeast Asia. It also connects the ecologies of the Himalayas and the Bay of Bengal. Dhaka hosts the secretariat.
India will be the next secretary general of Bimstec after the current one’s tenure expires on November 5. Bangladesh will be the chair next year.
Prime Minister Sheikh Hasina is expected to attend the next Bimstec Summit to be held in Thailand on November 30.
Dr Momen, during his interaction with the delegation, expressed his satisfaction over the excellent bilateral relation between Bangladesh and India.
He noted that both Bangladesh and India have made remarkable growth in trade and investment in recent years.
He urged that the two countries should work together to complement each other’s economies, especially, when the world is experiencing economic recession due to the Covid-19 pandemic and ongoing geopolitical crisis.
Dr Momen noted, due to the leadership of Prime Minister Sheikh Hasina, regional stability has been ensured, which has benefited both countries to augment economic growth.
Dr Momen stressed on working for the promotion of bilateral trade and commerce in a balanced manner and emphasized removing all kinds of trade barriers, especially, tariff and non-tariff barriers for the enhancement of trade volume between Bangladesh and India.
He invited the business delegation to invest in Bangladesh and take advantage of the congenial investment regime of the country.
He stressed on developing the two Special Economic Zones (SEZs) located at Mirsarai and Mongla dedicated for India at an expeditious manner so that more investment can be accommodated.
The Indian delegation appreciated the recent remarkable socio-economic growth achieved under the dynamic leadership of Prime Minister Sheikh Hasina.
They expressed their readiness to engage with various business bodies for promoting trade and commerce with a view to achieving economic development in both countries.
They also expressed their keen interest in investing in Bangladesh, especially in the health, education and power sectors.
Started in 1925, ICC has a special focus on promoting trade and commerce in South Asian and South East Asian countries. They are visiting Dhaka from August 6 to 8 and meeting various Chambers and business houses in Bangladesh.
