As political turmoil continues to batter the country, the business people are now travelling abroad to have trade deals done with their foreign partners.
Such foreign tours for agreement signing are inflicting additional costs and time on the businesses, said the business people.
“This (agreement signing in abroad) has become quite common today,” said Ha-Meem Group chairman AK Azad.
“Recently my company signed a business agreement with a European company in the US,” AK Azad said.
Singapore, Thailand and Malaysia are the preferable places to hold deal signing as foreigners feel insecure to come to Bangladesh because of political violence sweeping through the country including the capital Dhaka.
“Travelling foreign countries to sign deals is costly and time-consuming,” said Mir Nasir Hossain, a politician-cum-entrepreneur and ex-president of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
He said some countries are discouraging their citizens to travel Bangladesh hit by political turbulence.
“However, it is quite natural in the current situation of Bangladesh that foreigners must be discouraged by their respective countries to visit here.”
In first nine months of this year, the number of foreign visitors by air fell to 304,132 with 50% decline from 616,683 in the same period a year earlier, said a report of Special Branch (SB) of police.
FBCCI president Kazi Akram Uddin Ahmed said political unrest are forcing international buyers, suppliers and tourists to keep themselves from travelling Bangladesh.
“Tell me, who has guts to visit the country after watching the vandalism and violence in the streets on television?” aggrieved FBCCI chief asked.
Apparel industry people are the most affected by the ongoing political crisis which leads to calls of violent hartals and blockades, disrupting business activities.
More than 70% of buyers are now asking the Bangladeshi partners to travel to Hong Kong or Thailand for making deals, said the representatives of the overseas retailers.
“International buyers are reluctant to travel Bangladesh now. They are cancelling their previously set trips as the EU has already cautioned their citizens on visiting Bangladesh,” said a local representative of EU retailers.
Former president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Anwar-ul-Alam Chowdhury Parvez said: “Apart from financial losses, foreign tours to buyers or partners would also cost us valuable time.”
He recently said no foreign buyers had visited his factory in Sreepur of Gazipur in the past two months.
“Normally they frequently visit the factory at least once a month. But this time none has come.”
Ex-chief of BGMEA continue: “Think about myself, I’ve failed to visit my Chittagong office once in last one month due to hartals and blockades. If this happens to me, how can we expect a foreigner to visit our country in this situation?”
Five-star Ruposhi Bangla Hotel’s marketing and communication manager Shahidus Sadeque told the Dhaka Tribune that the occupancy rate had dropped by 50% in the recent months.
“But this is the peak time for arrival of foreigners in Bangladesh. Many who already booked rooms are now cancelling that reservations,” he said.
