DHAKA: A Memorandum of Understanding (MoU) has been signed between Indian Footwear Components Manufacturers Association (IFCOMA) and Leather goods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) on Thursday.

The signing ceremony was held at the venue of ‘Leather-tech 2014’ in the capital where India High Commissioner Pankaj Saran was also present.

This MoU provides for frequent interactions, exchange of information and development of healthy business relationship between the two associations.

It is expected to foster strategic alliances (joint ventures) and also explore possibilities of direct investments in the footwear and component sector with an aim of providing impetus to bilateral growth.

IFCOMA has been reaching out to the Footwear manufacturers in Bangladesh since 2001 and regular interactions have been taking place between the footwear industries of the two countries.

This has resulted in major advancement in the two-way relationship.

The recent upsurge in FDI ventures in Bangladesh has brought IFCOMA on its eighth visit to Dhaka, where about 30 participants are showcasing their latest products for the benefit of Bangladesh Footwear Manufacturers.

IFCOMA is committed to promote the component industry and has created progressive trade linkages between the component industry from India and footwear Industry in Bangladesh.

India is the largest foreign participating country in the second edition of Leather-tech with a special IFCOMA pavilion showcasing various components and products used in manufacture of shoes and footwear.
 
BDST: 1850 HRS, NOV 27, 2014