Mexico, one of the major suppliers of the global automobile market, has shown interest to share its experience and transfer technology to help build the capacity of Bangladesh in automobile manufacturing. Mexican Ambassador to India Federico Salas Lotfe had a courtesy meeting with Mostofa Azad Chowdhury Babu, senior vice-president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Monday in the capital. The Mexican ambassador said: "By exploring and diversifying trade, both sides would be benefited. I think the automobile, pharmaceutical, chemical, and fintech sector has huge potential." Also, Federico urged Bangladeshi entrepreneurs to set up businesses in Mexico. Read more: Car importers still unable to open LCs from banks Mostofa Azad Chowdhury Babu, senior vice-president of FBCCI, informed the envoy about the Bangladesh Business Summit which will be held in March this year. The senior vice-president said, "Several plenary sessions will be held during the three-day Business Summit; trade and investment potential in Bangladesh will be discussed. CEOs from international companies, business leaders, analysts, and top officials of different countries and organisations will join the event." He called for the active participation of Mexican officials and the business community at the event. The senior vice-president also said the FBCCI will provide all kinds of support to Mexican businessmen to expand trade and investment in Bangladesh.

Minister of Road Transport and Highways Nitin Gadkari on Tuesday expressed hope that India will become a hub for automobile manufacturing in the next five years. "Almost all reputed automobile brands are present in India. As we are working on technologies involving ethanol, methanol, bio-diesel, Compressed Natural Gas (CNG), Liquefied natural gas (LNG), electric and green hydrogen, I believe that India will become a hub for automobile manufacturing in next five years," said the minister. Read:India's digital economy to grow 10x to $800 bn by 2030 Earlier, on August 13, the prime minister, while addressing the Investor Summit in Gujarat via video conference, said that "Be it ethanol, hydrogen fuel or electric mobility, with these priorities of the government, active participation of the industry is very important." "In the midst of this change, it is equally important to protect our environment, our land, our resources and our raw material," he said.     

The government is working to build Bangladesh as a regional automobile manufacturing hub by 2030, Industries Minister Nurul Majid Mahmud Humayun said Thursday.