Dhaka, Jan 28 (Agencies): In the second Indo-Bangla trade fair, Bangladesh hopes to attract Indian investments worth Taka 30 billion ($422 million). The trade fair will be held in May to reduce its bilateral trade deficit.

India-Bangladesh Chamber of Commerce and Industry president Matlub Ahmed said he based his optimism on the success of the first Indo-Bangla trade fair held in March last year. This year the fair will be held May 5-7.

The maiden effort resulted in Taka 10 billion Indian investment in the IT sector with an equal amount of Indian investment in the pipeline, he said.

Ahmed said they expected the second fair to bring in Taka 30 billion Indian investment. He added that the fair would also strengthen the bilateral relations.

"Like the preceding one, this fair will provide the manufacturers and exporters of both the countries with a unique opportunity to showcase their goods and services under one roof which will open up a new window of opportunities for the business communities," New Age quoted him as saying Friday.