More Indo-Bangla jt venture industries being set up

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FE Report
More factories under Indo-Bangla joint venture are being set up in Bangladesh following increasing contact between businessmen of the two countries, said Indian high commissioner Rajeet Mitter Sunday.
"Reports are coming in on new joint ventures agreements in such areas as bicycles, auto-components, leather and leather products and food processing," he said at the FICCI monthly luncheon meeting at a city hotel.
Bangladesh exported $280 million worth of products to India during 2008-09 fiscal whereas the two-way trade between the countries was about $3 billion in the same period.
During the last few months at least five major business delegations visited Bangladesh and the local business community has shown enthusiasm in this regard, Mr Mitter said.
New Delhi has allowed duty-free access of 4,900 Bangladeshi products and it would help export of non-traditional items to India, he added.
The Indian envoy said Dhaka and Chittagong would be the next 'logical' destinations for flourishing IT industry.
"Bangladesh will become a factor in IT and outsourcing business as there is huge untapped potential of Dhaka and Chittagong as new locations for the IT industry," he said.