Bangladesh, India team up in leather sector

Leather manufacturers from India and Bangladesh yesterday signed a memorandum of understanding to intensify cooperation, foster joint ventures and explore possibilities of direct investments.
The Indian Footwear Components Manufacturers Association (IFCOMA) and the Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh signed the agreement on the sidelines of a leather sector fair at Bangabandhu International Conference Centre in Dhaka.
The deal provides for frequent interactions, exchange of information and development of healthy business relationship between the two associations, the Indian High Commission in Dhaka said in a statement.
The MoU is expected to foster joint ventures and also explore possibilities of direct investments in the footwear and component sector with an aim of providing impetus to bilateral growth.
The IFCOMA has been reaching out to the footwear manufacturers in Bangladesh since 2001 and regular interactions have been taking place between the footwear industries of the two countries, according to the statement.
"This has resulted in major advancement in the two-way relationship.”
Indian High Commissioner Pankaj Saran was present during the agreement signing.