BCIC to sign 3 MoUs at Global Business Forum coming week

Bengaluru: The Bangalore Chamber of Industry and Commerce is expected to sign around 3 memoranda of understanding at the upcoming Global Business Forum of the World Trade Centers Association (WTCA), set to take place in Bengaluru between March 3-6.

“We will sign an MoU with the Netherlands, and another two are in the works but will definitely happen,” BCIC president Dr S Devarajan told members of the media during a select roundtable on Friday. This will include a clause to set up virtual offices in the two geographies to boost business-to-business collaboration.

Overall, around 7-10 MoUs are expected to be signed amongst member countries spanning investments to the tune of nearly $50 million, a spokesperson of the global trade body said.

Over 35 member countries and more than 200 domestic and international businesses are expected to attend the mega event.

Going forward, India is likely to see 10 more World Trade Center licences added to its current tally of 40 in the next 5-7 years, WTCA Chairman John E Drew told DH following the roundtable discussion. Globally, over 300 World Trade Centers exist today, with the number expected to touch the 500 milestone in a decade, he added.