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Our Bureau

Kolkata , Sept. 9

THE Bengal Chamber of Commerce & Industry (BCCI) and the Singapore Indian Chamber of Commerce (SICC) today signed a memorandum of understanding to promote trade, economic, scientific and technical co-operation between the two countries.

As per the MoU, the two chambers will exchange information about commerce and industry, and the economy, of their respective countries.

The MoU was signed on behalf of BCCI by Mr Sumit Mazumder, President, and Mr Shabbir Hassanbhai, Chairman of the SICC.

Talking to newspersons after the signing ceremony, Mr Hassanbhai said the purpose of the SICC delegation's visit to West Bengal was one of fact-finding.

He said so far the chamber's focus has mainly been on States like Haryana, Tamil Nadu, Karnataka and Andhra Pradesh.

Identifying the tourism sector as a major growth accelerator, he said a key problem with Bengal was the image perception, and this needed to be changed urgently through dissemination of information.

He put the total value of India-Singapore trade at nearly $6 billion, excluding the trade routed through Mauritius, and said India was the 15th largest trading partner of Singapore.

Speaking on the occasion, Mr P.K. Menon, Executive Director and CEO of the chamber said the purpose of the MoU, when it fructifies, was to highlight the capabilities of Bengal to investors in South East Asia.

Mr Mazumder said the MoU would be a part of the "Look-East" policy of the chamber.

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