FBCCI signs two MoUs at CACCI conference

Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) signed two separate memorandums of understanding (MoU) at the 33rd annual conference of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) to boost country’s trade and investment.

FBCCI President Sheikh Fazle Fahim informed this while addressing the post-conference press briefing at a hotel in the capital on Thursday. CACCI President Samir Modi was also present at the briefing.

The two-day conference, which ended on Wednesday, was held in Dhaka for the first time since its inception in 1996. Business leaders from 27 member countries participated at the program. 

Fahim said, one MoU was signed with the Moscow Chamber of Commerce and Industries with the aim to connect all chambers and units of the FBCCI to a global network, E-Chamber, enabling the country’s traders to display their products and services in the global market free of cost.

He hoped that the move would enhance marketability of the country’s products.

Other MoU was signed between the FBCCI and the International College of Advanced Education, Australia, with the aim to exchange knowledge, he said, adding that the educational institution would share their training module, especially designed for skill development of people in the hospitality and tourism industry.

Citing an ILO study, Fahim said that 60% of the manpower in the country’s tourism sector lacked proper skill.

FBCCI President said that the CACCI conference helped the participating chambers made an extensive global network of investors and traders.

Meanwhile, CACCI has expressed its keen interest to establish a special economic zone in Bangladesh, in which it intended to produce different industrial products including computer chips, and components of bi-cycles and motorcycles, among others.

Investors from 27 member countries of CACCI expressed their interest to invest in the economic zone.

“We had a discussion concerning the special economic zone for the CACCI at the conference,” said FBCCI president, adding that it would be like foreign country specific economic zone.

Business leaders from the CACCI countries also expressed their interests to invest in the country’s infrastructure and tourism industry, Fahim added.

CACCI president Samir Modi said, CACCI saw great opportunity to invest and do business in Bangladesh. “Bangladeshi companies have opportunities to establish and expand trade and business with the 27 CACCI member countries,” he added.

In reply to a question, the CACCI president said Bangladesh was placed in a good position for foreign direct investment.

“The country offers ideal scenario for FDIs,” he added.

“My group has a plan for investing in Bangladesh,” said Samir Modi, adding that the group invested US $2.8 billion in India.