Bid to boost trade with Mexico
The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) and Mexican Business Council for Foreign Trade (COMCE) recently signed a Memorandum of Understanding (MoU) with a view to furthering the economic ties between their respective nations.
Shahriar Alam, the state minister for foreign affairs, and Abida Islam, Bangladesh's ambassador to Mexico, were present at the signing ceremony.
Md Jashim Uddin, president of the FBCCI, and Agustín García Rechy, vice president for the Asia Pacific region at COMCE, signed the agreement on behalf of their respective parties.
As per the MoU, the two organisations will help protect the business interests of both Mexico and Bangladesh through the visitation of trade delegations, increased networking and investment.
Under this initiative, both the FBCCI and COMCE agreed to increase their investments in Mexican-Bangladeshi joint-ownership enterprises, and to provide as much assistance as possible when it comes to overcoming any complications in this regard.
They will also work to encourage the participation of Bangladeshi and Mexican business entities at trade fairs, exhibitions, conferences, seminars and other business activities in both countries.
In addition, the MoU stipulates that the FBCCI and COMCE will undertake joint research activities to improve trade relations between their respective countries.
The two organizations will also exchange information on various publications and business prospects, including various magazines and directories.
Besides, the FBCCI and COMCE will provide technical skills training and technology transfer among their members.
At present, the average annual trade volume between Mexico and Bangladesh stands at more than $400 million but as a result of the various activities undertaken under this MoU, this amount is expected to increase to $1 billion.
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