2020-01-20 18:25:51 BdST
Bangladesh’s exports to India cross $1.0b in 2019
Bangladesh's exports to India crossed US $ 1.0 billion mark in the last calendar year (2019), said Gurvinder Singh, Director (exhibitions) of Engineering Export Promotion Council of India (EEPC India) at a press conference in Dhaka on Sunday.
The press conference was held in connection with a three-day Indian engineering trade show, styled 'INDEE Bangladesh 2020', which will kick off in the capital on Wednesday.
The second edition of the trade show, aimed at seeking to forge global supply chain with partners from Bangladesh, will be held at the International Convention City Bashundhara (ICCB).
EEPC India, an organisation sponsored by India's ministry of commerce and industry, will organise the exhibition with the participation of over 120 leading Indian companies including public sector undertakings (PSUs) like Indian Oil Corporation and Bharat Earth Movers, among others.
Industries Minister Nurul Majid Mahmud Humayun is expected to inaugurate the exposition as the chief guest.
The press briefing was also addressed, among others, by Pramyesh Basall, commercial officer of Indian High Commission in Dhaka.
Riva Ganguly Das, India's High Commissioner to Bangladesh, Ravi Sehgal, Chairman of EEPC India, Sheikh Fazle Fahim, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Md Abdul Matlub Ahmed, President of India-Bangladesh Chamber of Commerce and Industry (IBCCI) and Mahesh K Desai, Senior Vice Chairman of EEPC India will also be present at the inauguration of the trade show.
Addressing the press briefing, Gurvinder Singh said Bangladesh has emerged as a major trading partner of India with bilateral trade exceeding US $10 billion annually. Bangladesh's exports to India crossed the $ 1.0 billion mark in the last calendar year (2019).
The Indian government has chosen Bangladesh as a destination for repeating INDEE or holding the fair here for the second time in a row, showing New Delhi's commitment to Bangladesh's economic growth, he said.
The impressive economic growth of eight percent makes Bangladesh a place for strengthening trade ties and making an investment, the director of EEPC India mentioned.
Prime Minister Sheikh Hasina has announced year 2020 as the 'year of light engineering products' in Bangladesh and INDEE 2020 provides an excellent platform to connect engineering equipment and machine providers of India and Bangladesh, he added.
Pramyesh Basall said India and Bangladesh can jointly build a global supply chain and integration in a host of sectors.
"Since Bangladesh has emerged as a leading exporter of apparels, India could be a partner in supply of textile machinery. The Indian engineering industry is quite strong in textile engineering sector, he noted.
Likewise, Bangladesh has emerged as a leading player in light engineering and engineering products and can also forge a partnership with Indian firms in the sector, the Indian High Commission official added.
The event is also supported by Bangladeshi apex chambers and associations like FBCCI, IBCCI, BEIOA and BEMMA.
The curtain will fall on the trade show on January 24.
Unauthorized use or reproduction of The Finance Today content for commercial purposes is strictly prohibited.