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Global geopolitics-induced strain affecting economy: FBCCI chief

Global geopolitics-induced strain affecting economy: FBCCI chief

Business Desk

The economic crises stemming from the current world geopolitics have started to affect the overall economic activities of Bangladesh, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Mahbubul Alam said on Saturday.

“As a result, country’s businessmen are the one suffering the biggest losses,” said the chief of the country’s apex trade body.

Speaking at the annual general meeting of FBCCI at Bangamata Sheikh Fazilatunnessa Mujib Convention Hall in the capital, the FBCCI president also urged the business community to be united to advance the country’s economy on the path of prosperity.

He called on every one to keep in mind that economy is for everyone while politics is not.

He also said that there is no alternative to take the business community forward for the sake of the economy’s continual growth.

He urged everyone to prioritise the economy leaving behind political violence and differences.

Terming traders as the lifeblood of the country’s economy, Mahabubul Alam said, “Businessmen are playing a very important role in advancing the economy of Bangladesh. And to advance the economy to further prosperity all businesses – from small, medium to large industrialists – all should be united.

The FBCCI president stressed that a business friendly environment is very important for the expansion of trade and investment in the country.

“Businessmen of the country only want one thing, which is, to conduct their business properly,” he added.

He urged the political parties to refrain from intolerant activities ahead of the national polls to keep the country’s trade and economy moving.

He pointed out that in 2026, trade related conditions and policies will gradually change as the country graduates from the class of least developed countries.

“With that in mind, various issues such as cross-border trade and connectivity, investment, private sector recommendations for building a smart Bangladesh, customs and taxation, infrastructure, supply chain and logistics support, energy, impact of climate change, fourth industrial revolution, technical and vocational and technical education must get priority,” said Mahbubul Alam.

He also said that it is important to present the views and recommendations of the private sector at the policy-making level.

Mahbubul Alam said that the trade body, in line with the prime minister’s vision of building a smart Bangladesh, FBCCI’s current board of directors is working to chalk out a manifesto for building a smart to ensure participatory representation of the private sector.

In continuation of this e-Bulletin is being published every month to inform the members about the regular activities of FBCCI, he said, adding that a dynamic, user-friendly and interactive digital website has been introduced.

The FBCCI chief also highlighted various initiatives taken by the current board of directors for the welfare of traders since taking charge.

He also informed that the trade body is now planning to open a new branch office in Old Dhaka, set up a vocational centre in Uttara after the recent opening of its Gulshan office.

Minutes of last annual general meeting, Annual Report of FBCCI 2022-23, Audit Report of Income and Expenditure of FBCCI and appointment of auditor to a new institution were unanimously approved at the meeting.

Senior vice presidents of FBCCI Amin Helali, Khairul Huda Chappal and Mohammad Anwar Sadat Sarkar, directors and general council members of FBCCI were present at the programme.

 

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