Press Release
Seminar on 'Bangladesh-Pakistan Trade Opportunities under SAFTA'
A Seminar on 'Bangladesh-Pakistan Trade Opportunities under SAFTA' jointly organised by FBCCI and Pakistan High Commission was held on 26 January 2008 at FBCCI Conference Centre. H.E. Mr. Alamgir Bashar Khan Babar, High Commissioner of Pakistan in Dhaka as Chief Guest inaugurated the Seminar. Syed Manzur Elahi, Administrator of FBCCI chaired the seminar attended by the Special Guests Mr. Q.A.M.A. Rahim, Former Secretary General of SAARC and Dr. Toufiq Ali, former Ambassador of Bangladesh in Geneva. Experts on SAFTA, Heads of member bodies of FBCCI and leading businessmen of the country also attended the Seminar.
Dr. Safdar A. Sohail, Director General FTIP Islamabad and Dr. Mostafa Abed Khan, Joint Chief of Bangladesh Tariff Commission presented the key-note papers.
Addressing the Seminar FBCCI Administrator Syed Manzur Elahi said that tariff cuts have to be implemented within a specified timeframe and there should be provision of mandatory annual reduction of tariffs. Tariff peaks and escalations should be reduced in order to facilitate trade. The duty has to be less than that of SAFTA. Otherwise, free trade will have no significance, he added. Mr. Elahi also said negative lists have to be prepared in a pragmatic way so that the trade volume increases significantly.
In his speech, the Chief Guest Mr. Alamgir Bashar Khan Babar, said that Pakistan is interested to ink free trade agreement (FTA) with Bangladesh to reap the full potential of bilateral trade between the two countries. 'Pakistan has offered to enter into a FTA with Bangladesh on several occasions. Pending an agreement on such a bilateral arrangement, we have also indicated our readiness to have an 'Early Harvest Programme' under which both countries would identify export products under preferential treatment, he told. The High Commissioner urged entrepreneurs of both countries to explore potentials of investment in IT, engineering, telecommunications, textiles, leather and tourism etc.
Special Guests Mr. Q.A.M.A. Rahim, Former Secretary General of SAARC and Dr. Toufiq Ali, former Ambassador of Bangladesh in Geneva also addressed the occasion.
Seminar on SME Banking jointly organised by FBCCI and Eastern Bank
A Seminar on 'Present and Future Prospect of SME Banking in Bangladesh' jointly organised by FBCCI and the Eastern Bank was held on 15 January 2008 at a city hotel. Mr. Abdul Muyeed Chowdhury, Chairman of the SME Foundation was present as Chief Guest and Syed Manzur Elahi, Administrator of FBCCI as Special Guest. The seminar was organsied in cooperation with South Asia Enterprise Development Facility (SEDF).
Dr. Momtaz Uddin Ahmed, Professor of the Department of Economics of Dhaka University presented the key-note paper. Academicians, Leading Bankers, Entrepreneurs and Industrialists of the country attended the seminar.
Syed Manzur Elahi, Administrator of FBCCI, in his speech said that the SMEs could not flourish due to many reasons of which access to finance is prominent and most commonly cited. 'Due to their weak capital base, the SMEs are facing financing constraints and relying on inadequate and inefficient financing services, traditionally from informal sources,' he added.
Addressing the seminar Mr. Abdul Muyeed Chowdhury, Chairman of the SME Foundation said that the banks should change their typical regulations for offering financial supports to the SME . 'Instead of taking land and housing structure as collateral, the banks should take machinery and raw materials as security for giving loans to the SMEs,' he suggested. Mr. Chowhdury also said the recently formed SME Foundation is trying to create new avenues for providing financial, information and policy supports for the SMEs across the country.
At the seminar Eastern Bank Ltd. honoured a few successful SME entrepreneurs of the country who took SME loans from banks and used those properly.
Seminar on Competition Policy and WTO : Bangladesh Perspective
A seminar on 'Competition Policy and WTO : Bangladesh Perspective' organised by FBCCI was held at FBCCI Conference Centre on 23 January, 2008. Dr. Toufiq Ali, former Ambassador of Bangladesh in Geneva was the Chief Guest of the seminar presided over by Syed Manzur Elahi, Administrator of FBCCI. Mr. A.K.M. Fazlur Rahman, Director General, WTO cell of the Ministry of Commerce presented the key-note paper while former Directors of FBCCI, Heads of Memberbodies, Experts on WTO and leading businessmen of the country attended.
Syed Manzur Elahi, Administrator of FBCCI said that the government has prepared a draft competition act for avoiding unfair trade practice in the country. He, however, said before enacting such law formulation of a competition policy framework, building up of technical expertise of the law enforcers, including the judiciary, and advocacy to create public awareness on the benefit of the regulation or policy are required. The competition policy of an individual economy should strike a delicate balance between inroads of foreign products through globalisation and protection of local industry and employment centering round the core policy of consumer interest, he added.
In his speech the Chief Guest Dr. Toufiq Ali said that countries like Bangladesh should follow example of the developed countries rather than follow their advice to achieve desired goal in the WTO negotiation.He emphasised on the product development and increase of manufacturing skills. Dr. Toufiq Ali stressed the need for product diversification for securing new markets across the world.
Seminar on Duty Free Access Provided by Developed Countries
A seminar on 'Duty Free Access Provided by Developed Countries' organised by FBCCI was held at FBCCI Conference Centre on 21 January, 2008 with Mr. Suhel Ahmed Choudhury, Chairman of Janata Bank Ltd. and former Secretary of the Ministry of Commerce as Chief Guest. Mr. S.M. Al Husainy, former Advisor of FBCCI chaired the seminar while former Directors of FBCCI, heads of member bodies and leading businessmen of the country attended. Mr. Md. Shahab Ullah, Vice Chairman of Export Promotion Bureau (EPB) presented the key-note paper.
Addressing the seminar, the Chief Guest Mr.Suhel Ahmed Choudhury said country's trade bodies under the leadership of the FBCCI could initiate a movement, alling upon the developed countries to go for a new trade initiative in support of the least developed countries. Mr. Chowdhury also advocated for pursuing the developed nations to introduce to more flexible and unified Rules of Origin to get more market access.
Former adviser to the FBCCI Mr. S.M. Al Husainy moderated the seminar in absence of its Administrator Syed Manzur Elahi. In his speech, Mr. Husainy said four major trade-related deficiencies of Bangladesh and other LDCs ought to be the target of any new trade initiative and these are trade-related infrastructure development (TID), removing supply-side constraints (RSC), assured market access (AMA) and duty free access (DFA). 'I think for achieving the goal, aid for trade could be an effective tool,' he added.
FBCCI Organises Training Course on Information Networking Development
A training course on Information Networking Development organized under the project entitled 'Capacity Building of FBCCI' funded by Government of Bangladesh was held at FBCCI Board Room during 29-31 January 2008. Around thirty representatives from chambers, trade associations and other organisations participated in the course. The three-day course was designed to develop the knowledge and skill in information networking system of the trainees. It included modules on Fundamentals of Networking, Use of E-mail & Internet, Dynamic and Static Webpages, Contents of Websites and E-commerce etc. Experts on computer and senior officials of FBCCI conducted the course's.
Syed Jamaluddin, Secretary General of FBCCI distributed the certificates to the participants at the closing ceremony. Mr. Jamaluddin, in his speech said that networking contributed in sharing of information, increasing productivity, spreading education tecnology, increasing mobility and so on. He thanked the participants for attending the program and hoped that the trainees would improve their skill due to this training.
Among others, Mir Muniruzzaman, Secretary, FBCCI, Mr. Faiz Ahmed, Additional Secretary, FBCCI and other officials of FBCCI were present.
Training Course on Computer Orientation organized by FBCCI held
A training course on Computer Orientation organized under the project entitled 'Capacity Building of FBCCI' funded by Government of Bangladesh was held at FBCCI Board Room during 26-28 January, 2008. Around thirty representatives from the district chambers and trade associations participated in the course. The three-day course was designed to develop the knowledge and skill in computer operation of the trainees. It included modules on Basics of Computer Operation, Spreadsheet Analysis, Power Point Presentation and Internet etc. Experts on computer and senior officials of FBCCI conducted the course's.
Syed Jamaluddin, Secretary General of FBCCI distributed the certificates to the participants. He also thanked the participants to attend the program and hoped that the trainees would benefit from this course.
Among others, Mir Muniruzzaman, Secretary, FBCCI, Mr. Faiz Ahmed, Additional Secretary, FBCCI and Mr. M. Anwarur Rahman, Deputy Secretary (Project) and Coordinator of the training course were present.
FBCCI Delegation attended 21 Industrial India Trade Fair at Kolkata
An eighteen member business delegation of FBCCI led by Mr. Abdul Matlub Ahmad, President of India -Bangladesh Chamber of Commerce and Industry (IBCCI) and former director of FBCCI attended the 21 Industrial India Trade Fair during 17-27 January, 2008 in Milan Mela Complex, Kolkata, India.
The Kolkata Trade Fair was jointly organized by the Bengal National Chamber of Commerce and Industry (BNCCI) and the Government of West Bengal in association with India Trade Promotion Organization. Shri Buddhadeb Bhattacharjee, Chief Minister of the Government of West Bengal inaugurated the fair while Mr. Abdul Matlub Ahmad, leader of the FBCCI delegation attended as special guest. Mr. Zhang Jiping, Secretary Genral of China Council for the Promotion of International Trade(CCPIT), Mr. Samir Kumar Ghosh, Chairman of the Fair Committee and Mr. K.K. Navada, President of BNCCI were also present.
Apart from joining the fair, the FBCCI delegation met the private sector leaders of Kolkata and the officials of Bangladesh Deputy High Commission in Kolkata. FBCCI has been fielding business delegation during the Industrial India Trade Fair for the last nine years. About thirty eight Bangladeshi Companies participated the fair this year under the auspices of Export Promotion Bureau (EPB).
FBCCI Election on 17 March, 2008
The Election of the Board of Directors of FBCCI will be held on 17 March 2008 while the election for the posts of President, First Vice-President and Vice-President will be held on 19 March, 2008.
The revised schedule of the Election of FBCCI for the term 2007-2008 and 2008-2009 was officially announced on 14 January, 2008 as the order of stay has been vacated by the Hon’ble High Court Division. The Election will now be held on 17 March 2008. This was decided at the meeting of FBCCI Election Board presided over by the Chairman Professor Ali Ashraf on 10 January 2008 at FBCCI Election Board Room. Mr. A.S.M. Kamaluddin and Mr. Probir Kumar Saha, Members of the Board were also present at the meeting.
As per the revised Election Schedule the last date of submission of nominations for the post of Directors was fixed on 28 January 2008. 74 business leaders have submitted their nomination papers to contest the election. The scrutiny of the nomination papers would continue until 12 February, 2008 while the final list of qualified candidates would be published on 13 February, 2008.
FBCCI is preparing Budget Proposals for FY-2008-2009
FBCCI is preparing Budget Proposals for FY-2008-2009. A letter inviting the proposals from the member bodies of FBCCI has been issued in this connection. FBCCI hopes that the proposals would be submitted by 30 January, 2008. After receiving the proposals from the trade bodies FBCCI will start compilation of the proposals.
FBCCI to study farm sector cooperation in SAARC
FBCCI has been assigned to study the potentials of regional cooperation in agriculture and livestock sectors in SAARC countries. The FBCCI has been tasked with the research work as part of a series of studies planned by the SAARC Chamber of Commerce and Industry(SCCI) in economic sectors of the region. The SCCI earlier identified major areas for study—trade facilitation and tariffs, tourism, finance, monetary policies and common stock exchanges, infrastructure, agriculture and livestock, investment destinations. It assigned the member apex bodies of Bangladesh, India, Pakistan, Sri Lanka and Nepal to do the studies separately and recommend how the private sectors can work more closely for mutual benefits and overall development of the region.
According to FBCCI administrator Syed Manzur Elahi cooperation in agriculture for higher output was a vital need for SAARC countries, which face common concerns for food supply shortage and soaring inflation. Citing India’s achievement in increasing agricultural productions through scientific advancement in tissue culture and Pakistan’s development in livestock and fruit processing sectors, Mr. Elahi said, ‘SAARC counties have a lot of scopes to share technologies and ideas in agriculture.’ He said real implementation of regional development plans depended on strong political commitment of SAARC governments and their true actions.
The Federation of Indian Chambers of Commerce and Industry (FICCI) will study trade facilitation and tariffs sector, while the Federation of Chambers of Commerce and Industry of Sri Lanka will examine the prospects of cooperation in the finance and monetary policies. The Federation of Pakistan Chambers of Commerce and Industry will look into the potentials of a common stock exchange. Nepal’s apex trade body has been entrusted with the research work in investment prospects in the region.