FBCCI for strengthening RVCI among 4 countries

Staff Correspondent

5 February, 2021 12:00 AM printer

Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) President Sheikh Fazle Fahim has suggested the BCIM member countries to strategise Regional Value Chain Initiative (RVCI) with raw materials, knowledge, and expertise for respective domestic industry.

Mentioning RVCIs as for focused and targeted sectoral ecosystem of industries, he said that export to BCIM market and beyond, maximizing value chains with global implications based on shared resources and knowledge is important to maximize production competitive edge of Bangladesh.

FBCCI President made the comments at the BCIM (Bangladesh, China, India and Myanmar) Business Council meeting on Thursday.

In the virtual meeting, participants reviewed and summarized key tasks of BCIM in 2020 and discussed promotion projects of the council in 2021.  BCIM Business Council Meeting focused ways of cooperation in trade and logistics in the sub-regions of Bangladesh, China, India and Myanmar under the Covid-19 epidemic situation.

BCIM Business Council Yunnan Office organized the meeting while China Chamber of International Commerce, The Federation of Bangladesh Chambers of Commerce and Industry, Confederation of Indian Industry (CII), Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) hosted the event held virtually. 

Wu Meng, Deputy Director-General of Department of Cooperation and Development, China Chamber of International Commerce chaired the program Speaking at the meeting, Fazle Fahim said that energy, multi-modal transportation, joint seed development, agro-mechanization, mechanization components, agro-food processing, MSMEs, startup ecosystem are some of the highly prospective areas for joint venture.

He also mentioned other prospective sector like construction, shipbuilding, high value textile, jute, light engineering, automobile and motorbike components, defense armament, software, hardware, cyber security equipments, and hospitality.

BCIM Business Council aims at establishing a consultation mechanism for the industrial and commercial circles in the region, giving play to the leading role of pragmatic cooperation, and promoting communication and cooperation among the four countries' Chambers of Commerce and Industry.

Consulates general in Kunming and Guangzhou from Bangladesh, India and Myanmar, leaders of FBCCI, CII, UMFCCI and CCOIC, enterprises and scholars from BCIM countries also joined the meeting.