Guwahati: The 3rd Edition of the North East Export Promotional Meet, scheduled for November 21, 2024, is a crucial event in the Northeastern region to promote trade, business development, and economic growth. The event is set to focus on pharmaceuticals, healthcare, IT, tourism, construction, energy, petroleum, agriculture, and many other sectors chemicals. Delegations from these industries will participate to explore business opportunities and foster connections.
Moreover, the event is aimed at promoting bilateral trade, with a special emphasis on cross-border trade, with IBCCI facilitating this engagement. It is set to provide MSMEs and startups with exposure to new markets, networking opportunities, and potential buyers from other countries. Organized by the Indian Chamber of Commerce (ICC) in association with the Ministry of External Affairs, it is supported by various government and private sector entities.
The expected outcomes include enhanced market access for North-East businesses, fostering collaboration between MSMEs and larger enterprises, and promoting sustainable development practices in agriculture, food processing, and eco-friendly products.
Business North East (BNE) conducted an exclusive interview with S M Abul Kalam Azad, Secretary General, India-Bangladesh Chamber of Commerce and Industry (IBCCI) ahead of the North East Export Promotional Meet.
S M Abul Kalam Azad, Secretary General, IBCCI
Here are the excerpts of the interview:
BNE: What are the primary goals of the 3rd Edition of the North East Export Promotional Meet?
S M Abul Kalam Azad: The primary goal of this edition is to continue the success of the 1st and 2nd editions. The North East Export Promotional Meet is a vital platform to promote trade and business development in India’s North-East region. While the outcomes of the first two editions were not extensively documented, the event has consistently provided opportunities to highlight regional products and services, foster buyer-seller interactions, and build networks between Micro, Small, and Medium Enterprises (MSMEs) and larger corporations. This has played a crucial role in supporting economic growth and boosting exports. IBCCI had the privilege of attending both of the previous editions as well.
BNE: What specific export sectors and industries will be highlighted during the event?
S M Abul Kalam Azad: Our delegation includes leaders from sectors such as Textile, IT, Tourism, Healthcare, Construction, Agriculture, Food & Beverages, Petroleum, Chemicals, and Energy. We hope this event provides opportunities for exploring new businesses, fostering connections with industry leaders, and enhancing regional economic partnerships.
BNE: How does this event align with regional trade development objectives, especially for the North East region?
S M Abul Kalam Azad: The 3rd Edition aligns with the North East's trade development objectives as it focuses on key areas for economic growth and regional integration.
• Expanding Market Access: It provides a platform for businesses to present their products and services to wider, including international, markets.
• Boosting Cross-Border Trade: It strengthens economic collaboration between North-East entrepreneurs and their counterparts from neighbouring countries like Bangladesh.
• Supporting MSME Development: The event bridges MSMEs with larger enterprises, encouraging resource sharing and better market integration.
• Encouraging Diversified Growth: Focusing on sectors such as IT, Tourism, and Healthcare promotes the diversification of the region's economy.
• Enhancing Economic Infrastructure: Including sectors like construction and petroleum contributes to infrastructure development, driving trade and investment.
• Building Regional Identity: It helps establish the Northeast as a dynamic trade hub, enhancing its visibility to investors.
• Promoting Sustainable Development: Inclusion of agriculture and food & beverages promotes sustainable practices, contributing to long-term stability.
In summary, the event supports the Northeast’s trade development goals by fostering collaboration, improving market integration, and promoting sustainable economic growth.
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BNE: What role does the India-Bangladesh Chamber of Commerce and Industry (IBCCI) play in the event?
S M Abul Kalam Azad: IBCCI is crucial for promoting bilateral trade and economic collaboration between India and Bangladesh. As a joint business chamber, IBCCI works on resolving trade challenges, boosting Bangladesh’s exports to India, addressing trade imbalances, and encouraging Indian investments in Bangladesh. At this event, IBCCI facilitates engagement between entrepreneurs from North-East India and Bangladesh. We help showcase products and services, identify new suppliers and buyers, and support MSMEs in connecting with larger enterprises. By doing so, we contribute to regional economic growth and strengthen cross-border partnerships.
BNE: How much funds will be utilized for this event, and what is the source of this funding?
S M Abul Kalam Azad: The event is being organized by the Indian Chamber of Commerce (ICC) in association with the Ministry of External Affairs, Government of India. It is supported by several prominent institutions, as well as various private sector and business entities. Therefore, funding for the event is a collaboration of both - government and private sector resources, all aimed at promoting trade and business development in the North-East region.
BNE: What is the expected impact of this event on bilateral trade between India and Bangladesh, particularly concerning the North East region?
S M Abul Kalam Azad: The 3rd Edition of the North East Export Promotional Meet is expected to enhance bilateral trade between India and Bangladesh significantly. By facilitating direct exchanges between entrepreneurs, the event will expand trade links and market opportunities for both countries. It will allow North-East businesses to showcase their products, attract new buyers, and help forge new collaborations, ultimately strengthening economic ties and boosting trade between India and Bangladesh.
BNE: How can this event address current trade barriers or challenges in both countries?
S M Abul Kalam Azad: The event offers a platform for businesses to engage in direct dialogue, enabling them to identify and resolve trade barriers such as logistical challenges, regulatory issues, and trade imbalances. By fostering partnerships, sharing market insights, and improving supply chain connections, the event aims to reduce barriers to entry, streamline cross-border trade, and enhance collaboration between MSMEs and larger enterprises in both countries.
BNE: Are there any government policies or initiatives, which will be discussed during the meeting?
S M Abul Kalam Azad: Yes, the event is expected to address key government initiatives, particularly those aimed at fostering trade and business development in the Northeastern region. For instance, Assam’s MSME facilitation measures will be highlighted. These policies make it easier to establish and operate MSMEs, thus enhancing the ease of doing business in the region. This will encourage growth and entrepreneurship, contributing to the overall economic development of the North-East.
BNE: How can IBCCI leverage these initiatives for businesses in India and Bangladesh?
S M Abul Kalam Azad: IBCCI can leverage Assam’s MSME facilitation initiatives by encouraging cross-border collaborations between Indian and Bangladeshi businesses. These initiatives make it easier to establish and operate businesses in Assam, and IBCCI can use these policies to help Bangladeshi companies expand into the North-East region. Additionally, sector-specific policies such as the Assam Agarwood Promotion Policy and Bamboo Policy can help create joint ventures and partnerships in specialized industries, promoting bilateral trade and growth for both countries.
BNE: What kind of exhibitors and businesses will be featured at the event?
S M Abul Kalam Azad: The event will feature a diverse range of exhibitors from key sectors essential to the North-East's economic growth. These will include industries such as handlooms, handicrafts, food processing, agriculture, textiles, and eco-friendly products. It will provide a platform for MSMEs to showcase their products, explore new markets, and establish connections with potential buyers from neighbouring countries such as Bangladesh, Bhutan, Nepal, Thailand, and Laos.
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BNE: Will there be a focus on particular sectors, such as textiles, pharmaceuticals, agricultural products, or others?
S M Abul Kalam Azad: Yes, several key sectors will be highlighted in this edition, including:
1. Textiles and Handlooms: Promoting the region's rich tradition of handlooms and textiles.
2. Agriculture and Food Processing: Focusing on organic farming and food products like tea, spices, and rice.
3. Pharmaceuticals and Healthcare: Given the growing demand for healthcare services in India and Bangladesh.
4. IT and Technology: Exploring opportunities in information technology and digital business solutions.
These sectors represent the region's economic strengths and provide a platform for businesses to expand their reach.
BNE: Are there opportunities for start-ups and SMEs from India and Bangladesh to showcase their products or services?
S M Abul Kalam Azad: Yes, the event offers ample opportunities for start-ups and SMEs to showcase their products and services. The event is designed to support small businesses by connecting them with larger enterprises, potential buyers, and international markets. The focus will be on providing exposure to new markets, networking opportunities, and a platform to showcase innovation in sectors such as agriculture, textiles, IT, and healthcare.
BNE: Are any specific sessions or panel discussions focused on regional trade between India’s North East and Bangladesh to be held?
S M Abul Kalam Azad: Yes, in addition to the inaugural session, the event will feature specialized sessions, including Trade Export Leaders' Remarks, physical interaction sessions, and a virtual session on North East Export Promotion. These sessions will provide a platform for discussing regional trade dynamics, identifying business opportunities, and fostering deeper economic connections between India and Bangladesh.
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