Mr. Pankaj Saran, High Commissioner of India on November 27, witnessed the signing of an MOU on Cooperation between Indian Footwear Components Manufacturers Association (IFCOMA) and Leathergoods and Footwear Manufacturers & Exporters Association of Bangladesh (LFMEAB) at the venue of ‘LEATHERTECH 2014’ being held in Dhaka from November 27-29, 2014.
This MOU provides for frequent interactions, exchange of information and development of healthy business relationship between the two Associations. The MOU is expected to foster strategic alliances (joint ventures) and also explore possibilities of direct investments in the Footwear and Component sector with an aim of providing impetus to bilateral growth.
IFCOMA has been reaching out to the Footwear manufacturers in Bangladesh since 2001 and regular interactions have been taking place between the footwear industries of the two countries. This has resulted in major advancement in the two-way relationship. The recent upsurge in FDI ventures in Bangladesh has brought IFCOMA on its eighth visit to DHAKA, where about 30 participants are showcasing their latest components/products for the benefit of Bangladesh Footwear Manufacturers.
IFCOMA is committed to promote the component industry and has created progressive trade linkages between the component industry from India and footwear Industry in Bangladesh. India is the largest foreign participating country in the second edition of LEATHERTECH with a special IFCOMA pavilion showcasing various components and products used in manufacture of shoes and footwear.