MoU to promote trade relation between Bangladesh and Nagaland signed

Mokokchung, April 6: The India-Bangladesh Chamber of Commerce and Industry (IBCCI) and the Business Association of Nagas (BAN) inked a Memorandum of Understanding (MoU) in order to cooperate, promote, facilitate and to collaborate trade relations between the two organizations at Niathu Resort, Dimapur on 6 April.

The MoU was signed on the sidelines of the B20 Kohima summit led by IBCCI President, Abdul Matlub Ahmad and BAN President, Mongkum Jamir, a press release issued by BAN stated.

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The MoU aims to facilitate the exchange of information, expertise and technology in the area of agriculture, food processing, bamboo, tourism, textiles, IT services, mineral and renewable energy and to promote and increase bilateral trade and investment between Bangladesh and Nagaland. It also aims to provide necessary assistance and support to respective business communities to enhance trade and investment cooperation.

According to the MoU, the two organizations agreed to collaborate on joint projects and initiatives between the two countries and work towards reducing trade barriers and improving market access for each other’s goods and services. They also agreed to hold periodic meetings to review the progress of this MoU and to identify new areas of cooperation.

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The President of IBCCI mentioned that Prime Minister of Japan and the Prime Minister of India Narendra Modi have agreed to make use of the Matarbari deep sea port in Bangladesh at the earliest, the press release said.

“He urged the Government of Nagaland to be the first to officially declare among the North East states to use the deep-sea port in line with the Government of India’s foreign policy and for the interest of the State,” it added.

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He also expressed keen interest to buy the bamboo pulp from the 700 acres of bamboo plantation in Tuli and his willingness to invest in the latest paper mill machinery to make Tuli Paper Mill functional again.

The President of IBCCI reiterated the upfront support of their Government for import and export of agro based and other resources for mutual benefit and also suggested direct connecting flight from Sylhet in Bangladesh to Dimapur.

Taking note of the dominance of Bangladesh in the textile sector, BAN president requested the IBCCI to start initiatives in the textile sector in Nagaland to which his counterpart reciprocated positively. BAN president while thanking the visiting team assured all cooperation to take the MoU forward.

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