• Wednesday, Oct 21, 2020
  • Last Update : 07:05 pm

FBCCI, NACCIMA ink deal to boost bilateral trade

  • Published at 07:06 pm October 1st, 2020
Bangladesh Nigeria
File Photo

To improve the trade, bilateral value chain initiatives might be explored in energy, oil and petroleum products, cocoa production, processing, FMCG, home appliances, and pharmaceuticals

The Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) on Thursday signed an memorandum of understanding (MoU) with the Nigerian trade body, Nigerian Association Of Chambers Of Commerce, Industry, Mines And Agriculture (NACCIMA), aimed to boost bilateral trade between the two countries. 

The two private sector bodies inked the agreement followed by a virtual program titled, ‘Bilateral Trade and Investment Opportunities in the Ongoing Global Pandemic and beyond,’ organized by the FBCCI, said a press release.

FBCCI President Sheikh Fazle Fahim  and NACCIMA National President Hajiya Saratu Iya-Aliyu took part in the event, among others.

“This year marks the 100th birth centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman. Today’s program commemorates his legacy and is a part of our ongoing international engagements with 129 globally strategic partner organizations,” Fazle Fahim said.

“Our bilateral potential remains largely untapped," he said, adding that the bilateral trade in FY 2019-20 stood at $144.85 million only. 

To improve the trade, bilateral value chain initiatives might be explored in energy, oil and petroleum products, cocoa production, and processing, FMCG, home appliances, pharmaceuticals, etc, the FBCCI president said.

Hajiya Saratu Iya-Aliyu said that the event was an attestation of the fact that cooperation between the Nigerian - Bangladesh Private sectors and businesses is on the rise especially in the areas of trade, ICT, Pharmaceuticals, and Agriculture. 

"As chamber members of the D-8, this is indeed a right step in the right direction and resonates with the spirit, vision, and mission of the D-8 and is complemented by the MoU between our two chambers,” she added.

The Mou was also a testimony to expand trade relationships between the two countries, she believed.

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