Business

FBCCI inks deal with Mexican Business Council, expecting $1 b trade


Published : 03 Oct 2021 08:18 PM | Updated : 04 Oct 2021 01:32 PM

FBCCI, the apex trade body of Bangladesh, and the Mexican Business Council for Foreign Trade, Investment and Technology (COMCE) sign a Memorandum of Understanding (MOU) with an objective to strengthen economic and trade ties between the two countries.

 Shahriar Alam, State Minister, Ministry of Foreign Affairs, and Abida Islam, Ambassador of Bangladesh to Mexico, were present at the signing ceremony of the Memorandum of Understanding in Mexico City.

The Memorandum of Understanding was signed by Mr. Md. Jashim Uddin, President of the FBCCI and Mr. Augustin Garcia Rechi, Vice President for Asia Pacific Trade Section, COMCE.

On behalf of the President, FBCCI Md. Jashim Uddin, FBCCI Director Amzad Hussain was present at the ceremonial signing occasion.

Under the MoU, FBCCI and COMCE will help boost investment and business interests of the two countries, encourage exchange of trade delegations, and build networking. 

The two organizations have agreed to increase the investment in joint ventures and to provide maximum assistance in overcoming all the complications related to expanding bilateral trade. 

Both parties shall encourage the participation of Bangladeshi and Mexican businessmen in trade fairs, exhibitions, conferences, seminars and other business activities in their respective countries. 

Read more: FBCCI seeks more US investment in Bangladesh

Under the MoU, FBCCI and COMCE will undertake joint research activities to improve trade relations between the two countries. 

The two organizations will also exchange information on various publications and business prospects, including magazines and directories. The two organizations from Bangladesh and Mexico will exchange technical skills and technology and training among the members.

Currently annual bilateral trade between two countries is approximately over $400 million. As a result of the various activities undertaken under this MoU, this amount is expected to increase to 1 billion.

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