Dhaka, Bangladesh (BBN) – The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Philippine Chamber of Commence and Industry (PCCI) signed a Memorandum of Understanding (MoU) in Manila on Thursday aiming to promote bilateral trade between the two countries.

Vice-President of the FBCCI Abu Alam Chowdhury and PCCI President Edgardo G. Lacson signed the MoU on behalf of their respective sides.

The MoU has called for establishing Bangladesh- Philippine Business Council in Dhaka and Philippine- Bangladesh Business Council in Manila to raise investment and both way trades between the two countries. The present volume of both way trade is only about US$ 35 million.

A 12-member Bangladesh delegation, headed by the FBCCI president, is now in Manila to attend the three-day 22nd Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) conference which started on Wednesday.

On first day of the conference, Bangladesh was elected Vice President of the CACCI, according to a message received in the Dhaka on the day.

The present trade volume of both way trade is only approximately US$ 35 million.

BBN/SI/SS/AD-23October08-8:42 PM (BST)