Indo-Bangla trade fair begins in Dhaka Thursday

The fourth Indo-Bangla trade fair will begin in Dhaka on Thursday in an effort “to strengthen the business ties” between the countries.

Commerce Minister Tofail Ahmed will inaugurate the three-day showcase at the Pan Pacific Sonargoan Hotel, organiser the India-Bangladesh Chamber of Commerce and Industry (IBCCI), says.

The fair will become “a landmark event” for the bilateral business relation between the neighbours, IBCCI CEO Jahangir Bin Alam said at a press briefing on Tuesday.

More than 3O companies related to automobile, processed food, banking, insurance, home appliances, consumer goods, power, paints, electronics and electrical, textiles, cement manufacturing, and lubricants manufacturing sector will exhibit their product and services in six pavilions and 3O stalls.

The fair will remain open from 1Oam to 7pm every day. There is no entry free, Alam said.

Shishir Kothari, a second secretary of the Indian high commission that is supporting the event, was also present at the press briefing.

Bangladesh and India two-way trade was $6.14 billion in 2015-16, though heavily tilted towards India.

But in the last two years, Bangladesh’s exports to India have seen a huge increase after India allowed duty-fee market access.

In 2015-16, Bangladesh exports to India surged 30.8 percent to $689.62 million and Indian exports declined by 6.3 percent.

Indian High Commissioner in Dhaka Harsh Vardhan Shringla recently at an event said companies from both India and Bangladesh are also exploring “new opportunities” for investing and setting up joint ventures in each other’s country.

The IBCCI says the objective behind organising this “multiproduct fair is to develop business activities between the two neighbouring countries”.