Question: With whom the Bharat Chamber of Commerce signed a MoU to promote trade and investments?
- The Bharat Chamber of Commerce (BCC) signed a Memorandum of Understanding (MoU) with BRICS Chamber of Commerce and Industry for promoting trade and investments between BRICS countries and eastern part of India.
- It was signed by Sitaram Sharma, BCC president and B B L Madhukar, BRICS Chamber of Commerce and Industry Director General.
- The MoU will enable both the BCC and the BRICS chamber to share trade related information and exchange trade delegations among the five countries of the group.
- BCC is looking forward to work closely with BRICS Chamber of Commerce to foster trade, industrial and technological cooperation between West Bengal and BRICS countries.
- BRICS is an association of five countries viz. Brazil, Russia, India, China and South Africa.
- BRICS chamber of commerce and industry (CCI) is a parent organization which promotes commerce and industry in BRICS nations.
- BCC was initially established in 1900 as the Marwari Chamber of Commerce in Calcutta.
- After independence, in 1949 Chamber re-christened itself as Bharat Chamber Commerce.
- It works to expand economic and commercial activity via enhancement of efficiency and competition at all levels.