India and Bangladesh, being the closest of the neighbouring countries, felt the need and desire for economic and bilateral trade cooperation on a long-term sustainable basis. Trade between the two countries has been growing rapidly since the early 1990s. India and Bangladesh offer natural markets for each others’ products. In their mutual trade, they enjoy the advantages of reduced transaction costs and quicker delivery due to geographical proximity, common language, heritage and physical infrastructures. On that ground, formation of a joint business chamber to boost trade between India and Bangladesh was a long felt necessity of the business communities of both the countries.
Keeping above scenario in mind, the chamber started its journey in mid 2007 with the following objectives:
1. To solve bilateral business issues between India and Bangladesh.
2. To increase the export of Bangladesh to India.
3. To reduce the trade imbalance between India and Bangladesh.
4. To encourage the Indian investors to invest in Bangladesh.
5. To act as one stop business solution centre for the business communities of both the countries.
6. To facilitate transfer of technology between the two countries, in respect of industrial and commercial innovations.
7. To help set up an export-processing zone in Bangladesh where Indian investors will feel encouraged to invest.
8. To help solve problems relating to issuance of visa for the businessmen of both the countries.
9. To encourage cultural exchanges between the two countries.
10. To pursue building infrastructural facilities in the borderland ports of Bangladesh.
11. To take up other relevant business issues.