Chittagong Stock Exchange (CSE) has signed a joint communiqué with BCIM, the sub-regional and economic cooperative block of Bangladesh, China, India and Myanmar. This was signed while the CSE President Al Maruf Khan FCA participated at the BCIM Economic Corridor Connectivity Forum and the 12th annual meeting of the China Society of Logistics held at Fuzhou in China.
The contract will be placed soon in the China Foreign Ministry as the future course of action, says a press release.
Besides, as the Chairman of the South Asian Federation of Exchanges (SAFE), the apex body of the stock and commodity exchanges of the SAARC countries, Al Maruf Khan also signed a memorandum of understanding (MoU) between SAFE and BCIM Forum. By signing this MOU, both the parties agreed to cooperate in the areas of research, information exchange, communication at the specialist level, exchange of specialized knowledge, etc.
CSE president had a meeting with the Finance Ministry of the Hunan province on the prospects of Hunan’s investment in Bangladesh; specially bulge investment in the private sector.
The meeting discussed at large on creating structural connectivity and financial integration related to investments among the BCIM countries. Apart from detailed discussions on bilateral investments, financial transactions, transaction complicacies, regional and bilateral currency management, listing, infrastructure fund, joint exchange traded funds, establishing joint index, the meeting had a conceptual discussion forming a development bank for the development of infrastructures and long-term investments of this region.
Multifarious discussion was carried on bilateral commercial transaction, prospect of using bilateral currency and using the gold standard in this regard. Keeping this aim ahead, CSE signed a Letter of Intent with the Pan Asian Gold Exchange (PAGE).
CSE President delivered speech on the prospect of mutual cooperation among the financial institutions of BCIM countries, stock exchanges of SAARC countries and China.
He also discussed on the bilateral issues and future course of actions with the BCIM Forum.
In the conference, among others, the Consul General of the Bangladesh Consulate at Kunming Shahnaz Gazi, Secretary General of ChinaLogisticResearchCenter, Macro Economic Provincial Minister of China, Deputy Mayor and other eminent personalities were present on the occasion.
BCIM was formed 13 years ago by the countries Bangladesh, China, India and Myanmar. Bangladesh is the founder member of SAFE and BCIM and the proposing country for both the forums.