Bangladesh business leaders at a trade summit in India invited investors from the neighboring countries to strengthen cooperation on high tech research, development and innovations in joint ventures (JVs) especially on light, medium and heavy industries.
They also stressed the need for knowledge transfer from 3rd Industrial Revolution to 4th Industrial Revolution including service sector cooperation in ICT, nanotechnology, robotics, IOT, cyber security, AI, EV, among others.They made the observation while attending the “CWBTA Eastern India Trade Summit-2019” that began on Monday. The Confederation of West Bengal Trade Associations (CWBTA) organised the two-day event.
Minister and Mayor of Kolkata Firhad Hakim inaugurated the summit as chief guest while Finance Minister of West Bengal Dr. Amit Mitra was also present. FBCCI President Sheikh F Fahim presented a paper after the inaugural session of the summit.
“Bangladesh economy is passing through a transition towards a developing one. It is now imperative that our bilateral ties reflect the potential opportunities and for that we have to deepen our cooperation in potential sectors”, said Sheikh F Fahim.
The FBCCI President said about Bangladesh’s competitive strengths in apparel, leather goods, pharmaceuticals, frozen seafood, ceramics, jute products, ICT, FMCG, home appliance and others are leading the way for business diversification.
Sheikh Fahim also mentioned about the liberal and flexible investment regime of Bangladesh offering tax holiday, tax exemptions, accelerated depreciation, tariff refund, double taxation prevention, 100 percent foreign ownership and full repatriation of capital invested from foreign sources.
The summit aims to interact with the business leaders of partner countries on business opportunities, suggestions for ease of foreign trade, product basket and informative exchanges.