Sangma was part of the Indian delegation, led by Union DoNER minister and Union MoS for external affairs V K Singh, Tripura industry minister Tapan Chakravarty, Meghalaya parliamentary secretary Kennedy Khyriem and Indian high commissioner Pankaj Saran.
"The chief minister proposed a joint investment initiative between Bangladesh and Meghalaya as the northeastern state has a rich deposit of granite and very high quality limestone," said an official.
Mukul also suggested a separate conclave on tourism, as Meghalaya has a wealth of tourist hotspots just a hop away from Bangladesh.
India is especially keen on developing trade ties with the neighbouring country with special focus on expansion of business with the northeaster states, given their close proximity with the nation, the DoNER minister said.
There is tremendous scope for expanding Bangladesh's trade with the seven states and the Union government will provide all possible support to explore the opportunities, Singh said at the conclave.
External affairs minister Sushma Swaraj paid a visit to Bangladesh in June and Singh said that Prime Minister Narendra Modi is also keen on visiting the country in future. The DoNER minister met chief ministers of the northeastern states before going to Dhaka.
"The gathering saw a fruitful discussion on issues of connectivity and trade, which would spark an increase in developing the region," said an official.
Singh, during his meeting with Bangladesh foreign minister Mahmood Ali, emphasized on deepening of relations between the two countries, especially between Bangladesh and the northeast, including cooperation in the energy sector.
Other issues that were discussed over the weekend included the Teesta water-sharing agreement, the proposed Agartala-Kolkata bus service that would run through Bangladesh and the use of Chittagong port for Indian goods.