Dhaka: Industries Minister Amir Hossain Amu on Saturday said there is an immense prospect for expanding Bangladesh business to the northeastern states of India and emphasised taking required steps for utilising that potential.

‘The business community in Bangladesh is capable enough to invest in and run their businesses outside Bangladesh,’ he said.

The minister was addressing the inaugural session of the 10th northeast business summit titled ‘Development through Partnership with Asean & Bimstec Countries’ held in New Delhi.  

MK Saharia, NE Initiative chairman, ICC; Kalraj Mishra, Minister, Ministry of MSME, Government of India; P Ashok Gajapathi Raju, Minister, Ministry of Civil Aviation, Government of India; Lyonpo Tandin Wangchuk, Health Minister, government of Bhutan; Aung Zan, Minister, Ministry of Planning and Economy; Mandalay Region, Myanmar; U Tha Aye, Chief Minister; Sagaing Region, Myanmar; Tarun Gogoi, Chief Ministers of Assam; Nabam Tuki, Chief Ministers of Arunachal Pradesh, Minister of State (IC), Ministry of DoNER, government of India and Summit Chairman Dr Jitendra Singh also spoke at the summit, according to an official at the Industries Ministry.

The Industries Minister said they want to ensure seamless connectivity in the region that might lead to collective prosperity.

‘We intend to come forward for facilitating and promoting business in this region by mutual cooperation and reciprocal support utilising this comparative advantage.’

He also focused on trade facilitation through a combined effort between the private and public sectors. ‘The governmental efforts are to be complemented by our business friends. I’m hopeful that the business community of this region with support of the government will create an enabling environment for foreign investment and facilitate promotion of Business.’

Amu said as a close door neighbour of India and especially the northeastern states, Bangladesh presents immense opportunity to improve business for reciprocal economic development.  

Economic development through smooth business environment will be possible once the barriers are addressed, he said.  

Amu hoped the Summit would be able to come up with firm recommendations for mutual cooperation and commitment for promotion of investment, trade facilitation and governance of natural resources and promotion of industrialisation.  

‘Together as a group, Asean and Bimstec countries would be able to forge strong partnership for the benefit of the two regions combined,’ he added.

The industries minister said as a regional organization Bimstec constitutes a bridge between South and South East Asia and reinforces the relations among the countries of this region.  

‘We may certainly utilise the platform of Bimstec for intra-regional cooperation between Saarc and Asean countries,’ he said.

Bangladesh has 4096 kilometres of border with India , 2217 kilometres of which is with West Bengal and the remaining 1741 kilometres is with the northeastern states of India, namely Assam, Meghalaya, Tripura and Mizoram.