Recently, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Mexican Business Council for Foreign Trade (COMCE) have signed a Memorandum of Understanding (MoU) to further enhance economic relations between their respective countries.
State Minister for Foreign Affairs Shahriar Alam and Bangladesh Ambassador to Mexico Abida Islam were present at the signing ceremony.
Simultaneously, FBCCI President MD Jasim Uddin and COMCE Asia Pacific Vice President Agustin Garcia Rechy signed the agreement on behalf of their respective parties.
According to the MoU, the two organizations will help protect the business interests of both Mexico and Bangladesh through increased visits, networking, and investment by trade delegations.
Under the initiative, both FBCCI and COMCE have agreed to increase their investment in the Mexican-Bangladeshi joint venture and provide as much assistance as possible to overcome any complications in this regard.
Besides that, 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.
Also, the two organizations will 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.
Currently, the average annual trade volume between Mexico and Bangladesh is more than $ 400 million, but this is expected to increase to 1 billion as a result of the various activities undertaken under this Memorandum of Understanding.