The two-day business conclave begins in capital Dhaka today (Sunday), expecting to get a special focus on Bangladesh.
The meeting is expected to facilitate the energy distribution, transmission, trading among the BIMSTEC nations.
The Indian Chamber of Commerce (ICC) and the India-Bangladesh Chamber of Commerce and Industry (IBCCI) is jointly organising the BIMSTEC Business Conclave aimed at fostering cooperation in the energy sector, as well as exploring opportunities in agriculture, education, and healthcare between India and Bangladesh.
ICC director general Dr. Rajeev Singh is leading a delegation of 85 prominent business leaders and industry captains from BIMSTEC countries, to mark a significant step towards strengthening economic ties in the region.
Dr. Singh hopes that the conclave will provide an excellent platform for companies from the agriculture, education, and health sectors to explore areas of mutual interest and potential joint ventures.
The participants from diverse industries included manufacturing of industrial products, distinguished MSMEs, large-scale construction companies, power generation companies, new and renewable energy companies, PSUs, solar energy, oil and gas companies, DISCOMS storage, and distribution companies, and energy efficiency companies.
During a press conference on Saturday it was informed that a total of 828 meetings were scheduled, which are expected to lead to fruitful partnerships and business collaborations between Indian and Bangladeshi companies.
In addition to the energy sector discussions, the event saw detailed deliberations on agriculture, education, and healthcare. Both the ICC and IBCCI are working on establishing joint-venture hospitals in Dhaka, Kishoreganj, and Pabna, with the intention of improving healthcare infrastructure and services in Bangladesh. Several Memorandums of Understanding (MoUs) in this regard are expected to be signed shortly.
President of IBCCI, Abdul Matlub Ahmad, highlighted the tremendous potential for cooperation between the two countries in various sectors.
He mentioned the critical need for raw materials like bamboo chips and pulp, rocks, and minerals in Bangladesh, which can be sourced from India's North East region. Ahmad also emphasized that the newly constructed Maitri Setu over the Feni River, reducing the distance between Agartala and Chattogram to just 111 km, will significantly enhance the transshipment of goods to India’s North East region.
He further expressed optimism about the game-changing impact of the upcoming Matarbari Deep Sea Port (DSP) in Bangladesh, expected to boost growth, enhance maritime connectivity, and strengthen industrial value chains.
Ahmad concluded by expressing his hope that the BIMSTEC Business Conclave would not only foster cooperation in the energy sector but also lead to increased investments in Bangladesh, particularly in the areas of food processing, medical technology, and education.
Both Indian and Bangladeshi delegates are eager to seize the abundant opportunities for mutual growth and cooperation in various sectors, ultimately fortifying the strong bonds between the two neighboring countries.