Bengaluru, 7th March 2024- The Bangalore Chamber of Industry and Commerce (BCIC) has expanded its global presence to promote international trade and commerce by signing three Memorandums of Understanding (MoUs) at the 54th Annual WTCA Global Business Forum (GBF) currently underway in Bengaluru. BCIC with World Trade Center Bengaluru, signed MoU’s with World Trade Center Twente, Netherlands, World Trade Center Riyadh and World Trade Center Mumbai. The Mou’s are aimed at fostering economic development and international business collaborations and promote commercial and business links between regions. The MoU will also facilitate the opening of BCIC offices at WTC Twente, Netherlands and WTC Riyadh based on reciprocity.

The first MoU, signed between BCIC, World Trade Center Bengaluru, and World Trade Center Twente, Netherlands, aims to bolster economic and business relations between India and the Netherlands. His Excellency Mr. Ewout Jan De Wit, Consul General of Netherlands in Bengaluru, graced the occasion, underscoring the significance of this trilateral agreement which will extend BCIC’s footprint into the European region.

In a bid to strengthen ties with the Middle East and Africa, BCIC has inked a tripartite MoU with World Trade Center Bengaluru and World Trade Center Riyadh. This partnership will pave the way for enhanced trade and commerce between India and Saudi Arabia, leveraging the strategic locations of WTC properties managed by Riyadh in Jeddah and Al Khobar.

Furthermore, BCIC has entered into a bilateral MoU with World Trade Center Mumbai to foster commercial and business links between the cities of Mumbai and Bengaluru, thereby enriching networking opportunities.

“Our partnership with World Trade Center Twente, World Trade Center Bengaluru and World Trade Center Mumbai will facilitate and enhance trade and investment opportunities. The MoU will enable BCIC to provide its members with access to the vast network and resources and vice versa. This collaboration will lead to increased business activity, innovation, and cooperation. It will also facilitate the exchange of best practices, knowledge, and expertise between member organizations of all parties covered in the MoU’s. Additionally, we expect these agreements to support the India Middle East Europe Corridor (IMEEC), a critical outcome of India’s recent G20 Presidency, and position Bengaluru and India competitively in the emerging geopolitical and geoeconomic landscape.” said Dr. S Devarajan, President, BCIC

This development follows BCIC’s establishment of its international office in Tokyo in 2022 and the subsequent successful organization of the ‘Make in India with Japan, for the globe’ international event.