Indo-Bangla cottage industry groupings sign MoU

FE Team | Published: August 20, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

FE Report
Small and cottage industry groupings of Bangladesh and India have signed a memorandum of understanding (MoU) to promote and encourage increasing trade and investment and technical cooperation between the two associations.
President of National Association of Small and Cottage Industries of Bangladesh (NASCIB) Mirza Nurul Ghani Shovon and Federation of Association of Cottage and Small Industries (FACSI) of West Bengal, India Hitangshu Kumar Guha signed Tuesday the MoU on behalf of their respective associations in the city.
Advisor of Bangladesh-India Chamber of Commerce and Industry and Chairman of Nitol-Niloy Group Abdul Matlub Ahmad spoke as the chief guest at the signing ceremony while Council Chairperson of The International Association of Lions Club MA Rashid Shah Shamrat, NASCIB Advisory Council Chairman Dr. Mamtaz Uddin Ahmed, FACSI Advisory Board Chairman Samir Gupta were present of guest of honour and former vice presidents of Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) Kamal Uddin Ahmed, Md. Abul Kashem, Dewan Sultan Ahmed and NASCIB Advisor Mozibur Rahman were present as guests of honour.
According to the MoU, both organisations would work together for removing constraints in expanding businesses in both countries.
The associations of two countries would work for drawing up a time-bound roadmap to further their activities in order to construct activities recognised by the relevant authorities of both countries.
The organisations will also engage other chambers and trade bodies in the region to benefit from the expertise.
As per the MoU, there will be exchange of business delegations from both sides on specific issues.
Both the organisations will conduct professional research to explore potentials in micro, small and medium enterprises and training to build quality entrepreneurship.
They will develop data centre for the members in the both countries.
Speaking as the chief guest, Abdul Matlub Ahmad said he is ready to provide all-out support to increase trade among the members of both organisations.
"My association will support financially to build businesses in five definite SME sectors: fan manufacturing, solar pump, battery charger, polymer manufacturing and light engineering," he said.
Expressing his disappointment, Mr. Ahmad said there are enough credits in the banks, but there is a lack of entrepreneurships.
HK Guha urged governments of the both countries to resolve visa issues.
"Businessmen of the both countries should have easy travel and authorities must ensure it," he said.
NSCIB President Mirza Nurul Ghani Shovon urged the central bank to ensure low-interest rate credit for the NASCIB members.