Nine months after the signing of the MoU between Nagaland and Bangladesh to cut down trade barriers, the hope for Nagaland-Bangladesh trade is gaining momentum. During the 2nd Nagaland International Trade Expo organized by the Business Association of Nagas (BAN), Assistant High Commission of Bangladesh, Ruhul Amin said there is “immense opportunity” in Nagaland.
According to Amin, Bangladesh needs raw materials and Nagaland has raw materials. He emphasized the raw materials such as bamboo and exotic fruits which he believes are those that can be imported from Nagaland.
Meanwhile, Amin viewed that because Bangladesh has good garment sector – second largest in the world in terms of garment export – and since “this part of the region” is “very fashionable”, he believes that there is opportunity in the Nagaland-Bangladesh trade.
It may be noted that an MoU was signed between BAN and IBCCI in April 2022 on the sidelines of the B20 Business Summit at Kohima 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.
The agreement was also an attempt to promote bilateral trade and investment between Bangladesh and Nagaland, with both sides providing the necessary assistance and support to their respective business communities, working together on joint projects and initiatives, reducing trade barriers and improving market access for each other’s goods and services.