FBCCI, Philippine chamber signs MoU

Dhaka: The Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) and the Philippine Chamber of Commerce and Industry (PCCI) signed a memorandum of understanding (MoU) in Manila to further promote bilateral trade between the two countries.

Abu Alam Chowdhury, vice president of FBCCI, and Edgardo G Lacson, president of PCCI, signed the MoU on behalf of their respective sides.

A 12-member Bangladesh delegation, headed by the FBCCI president, is now in Manila to attend the three-day 22nd Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) conference, which started Wednesday.

On the first day of the conference, Bangladesh was elected the CACCI vice president, said a message received here.

The MoU envisaged, among other things, establishment of the Bangladesh-Philippine Business Council in Dhaka and the Philippine-Bangladesh Business Council in Manila to give a boost to investment and both way trade between the two countries.

The present trade volume of both way trade is only approximately US$ 35 million.