CII to take steps to raise imports from Bangladesh

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FE Report
Leaders of the Confederation of Indian Industry (CII) team now on a visit to Chittagong Tuesday said it will take moves to increase imports from Bangladesh so that the existing trade gap between the countries can be narrowed down.
Team leader Shreekant Somany who is heading a 10-member mission to Bangladesh also said that it will also explore investment opportunities in Bangladesh in different fields including infrastructure development.
He was addressing at an exchange of views meeting with the Chittagong Chamber of Commerce and Industry (CCCI) held at its conference room in the port city Tuesday.
The visiting team leader said that the CII will assist local chamber organisations including the CCCI to organise fairs and seminars on investments in Kolkata and Mumbai in India.
CCCI president Saifuzzaman Chowdhury moderated the meeting.
CCCI president said the existing non-tariff barriers in exporting local goods to India should be removed for narrowing the trade gap between the countries.
Currently, Bangladesh has around $ 1.0 billion trade deficit with India.
CCCI president urged the Indian entrepreneurs to set up joint ventures or individual industries to get duty and quota free access to the markets of Europe, Australia, Canada New Zealand and some Asian countries.
Later, one-to-one business meetings were also held to explore investment potentials in the fields of glass, electronics, pharmaceuticals, ceramics, health and beauty cares, education and power generation.
The CII team also visited different industries located in the port city.
CCCI vice president Mahabub Alam, directors Mahabub Ali, Mahfuzul Hoque Shah, Fahim Ahmed Faruk, former CCCI senior vice president Ershadullah spoke in the meeting.