FBCCI signs MoU with Nigeria

Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) has recently signed a Memorandum of Understanding (MoU) with The Nigerian Association of Chambers Of Commerce, Industry, Mines and Agriculture (NACCIMA).

The signing program was followed by an 'FBCCI Cloud Conference™' between the two private sector associations, presenting opportunities for both nations in trade and investment, says a press release by FBCCI.

Thanking NACCIMA, the FBCCI President Sheikh Fazle Fahim stated, "This year marks the 100th birth centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman. Today's program commemorates his legacy and is a part of our ongoing international engagements with 129 globally strategic partner organisations."

Hajiya SaratuIya-Aliyu, national president of NACCIMA; Aisha Dewa, director of Asia/Pacific Division, the Ministry Of Foreign Affairs, Nigeria; Engr. Jani Ibrahim, national vice president of NACCIMA; Ambassador Md. Abdul Hannan, adviser to FBCCI, and Ambassador Ayoola Olukanni, director general of NACCIMA, took part in the initiative by the private sector associations titled, 'Bilateral Trade and Investment Opportunities in the Ongoing Global Pandemic and beyond.'

Hajiya SaratuIya-Aliyu the National President of NACCIMA commenting on the MoU said, "Today's event is an attestation of the fact that cooperation between the Nigerian - Bangladesh private sectors and businesses is on the rise especially in the areas of trade, ICT, pharmaceuticals, and agriculture." 

Fazle Fahim said, "Bangladesh-Nigeria's long humane relations have been marked by our engagements at the UN, OIC, Commonwealth, D-8 and D-8 CCI. However, our bilateral potential remains largely untapped. Bilateral trade in FY 2019-20 stands at $144.85 million. To improve trade, bilateral value chain initiatives may be explored in energy, oil & petroleum products, cocoa production, and processing, FMCG, home appliances, pharmaceuticals, etc." 

Highlighting Bangladesh's success and development even during an unprecedented pandemic, Fahim further stated, "Comparing compliant markets and transitioning economies like Bangladesh's ROI makes us an attractive destination with IP protection in place for technology transfer."

The National President of NACCIMA said, "As chamber members of the D-8, this is indeed a right step in the right direction and resonates with the spirit, vision, and mission of the D-8 and is complemented by the MoU between our two chambers."

"The signing of a Memorandum of Understanding by the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), is also a testimony to expand trade relationships between our two countries," she added.

Ambassador Md. Abdul Hannan, Adviser to FBCCI assuring the NACCIMA representatives said, "We have the capacity and the willingness to connect our members to the members of NACCIMA. I look forward to our two organisations executing the MoU to reflect our bond that will make a real and mutual difference for our members."

The FBCCI president also assured its' Nigerian counterparts of engaging in sectors highlighted by NACCIMA during the event.