Dhaka Chamber of Commerce and Industries (DCCI) President Rizwan Rahman urged Indian investors to invest in the economic zones (EZs) in Bangladesh.
Rizwan Rahman made the call as a 47-member business delegation, led by him, is now visiting Kolkata, India to explore new business potentials.
Meanwhile, during the first day of this visit, the delegation had an industry interactive meet with the Calcutta Chamber of Commerce on Wednesday in Kolkata.
During the meeting, President of Calcutta Chamber of Commerce Ms Shailja Mehta said India is the biggest trade partner of Bangladesh in South Asia, according to a press release issued on Thursday.
Toward achieving advantageous trade figures, both the nations need to diversify trade with active industry participation. She said that better market access, improved physical connectivity and transit and energy trade between India and Bangladesh are important instruments for unlocking bilateral trade potential.
She also termed tourism as one of the important areas where there is huge potential to tap into.
Mr Rizwan Rahman, who is also the leader of the Business delegation, said that the bilateral trade between Bangladesh and India hovers within USD 9.87 billion having a potential of USD 16.4 billion forecast by the World Bank.
He also invited Indian entrepreneurs to invest in the EZs in Bangladesh that are already completed for operation. Pharmaceuticals, footwear, energy, food processing, light engineering, ICT are some of the areas where Indian investors can tap the opportunities.
Moreover, the initiative of signing a comprehensive economic partnership agreement (CEPA) between India and Bangladesh will usher in a win-win situation for both end businesses, he added. Later he also sought a joint collaboration on different non-tariff issues which hindered our business scopes.
Deputy High Commissioner of Bangladesh in Kolkata Andalib Elias was also present on the occasion and he said that there is a trade deficit between the bilateral trades but it is decreasing day by day.
During the last five to six years, the bilateral trade has multiplied about 2.5 times, he added.
He termed trade facilitation a big issue and the High Commission is working with the government and private sector here in Kolkata to enhance it more.
Later, an interactive B2B match-making was organised where members of Dhaka Chamber’s business delegation and Calcutta Chamber of Commerce took part.