Commerce Minister Tofail Ahmed has called for a restoration of confidence among the nation's businessmen in order to gather momentum in the country’s trade and commercial activity, putting aside any and all hindrances.
He made the call during a meeting with a delegation of the Dhaka Chamber of Commerce and Industry (DCCI) at his secretariat office in the city yesterday.
“The country’s overall businesses have already started gathering momentum as soon we came back to power. If we can maintain such political stability in the coming days, Bangladesh would soon be the next destination for foreign direct investments,” he added.
The newly elected body of DCCI led by its president Mohammad Shahjahan Khan met the minister.
Coming down heavily on the recent destructive political programmes, the minister said no political programme should be enforced, which is harmful to the country’s economy, specially the export-import business.
Tofail urged the political parties to shun the paths of destructive political programmes such as arson attack and vandalism, which had paralysed the country before polls.
Regarding the GSP restoration efforts, he said: “We are quite hopeful to regain the Generalized System of Preferences (GSP) in the US market as the government has made a remarkable progress in the condition imposed for the restoration of GSP and rest of the work would be accomplished by April.
Tofail was talking to the reporters after the meeting with the DCCI delegation.
“Businessmen are the driving forces of our country’s economy and they have already proved their skillfulness, by pushing up our export growth by 3% against a strategic target in the first half of the current fiscal,” he added.
Emphasising on regional connectivity for further enhancing trade and commerce in South Asia, Tofail said, “An initiative has already been taken to from such a regional alliance among Bangladesh China India and Myanmar (BCIM) and if it is done we would be the most beneficiary, out of it.”
In a bid to expand trade volume, the government will put more focus on products diversification and exploration of new markets in the coming days, he added.
The DCCI delegation earlier placed a 10-point demands to the minister, which include restoring investors confidence, diversification of products and exploring new markets for exporting products, augmenting Export Development Fund (EDF), exploring Bali Package, reinstating GSP, taking comprehensive action plan including short term, mid-term and long term action plan to extend trade and commerce for the sake of economic development, inter ministry cooperation meeting to reduce production cost and cost of doing business, allowing businessmen to operate business in the foreign countries, strengthening Bangladeshi foreign mission and its activities and providing gas and electricity connection.
DCCI delegation urged the government to provide uninterrupted supply of gas and electricity.
Considering the limited reserve of natural gas, the DCCI also suggested the government to put more focus on the use of LPG cylinder gas, instead of the existing pipe line connection.
As asked to comment on the export of Hilsha fish to India, Tofail left the matter to the related stakeholders, raising a further question as to how can we stop smuggling?
“We are being deprived of getting revenue from Hilsa fish as it is now being export through illegal means,’’ he explained.
He also referred to the demands for lifting ban on Hilsha by Bangladesh Frozen Food Exporters Association (BFFEA).
It is noted here, soon after the government came back to power, Indian Higher Commissioner Pankaj Saran urged the government to lift ban on Hilsa fish export.
