FBCCI urges for boosting FTA, PTA
Business leaders said discipline in trade is more crucial at this stage when Bangladesh is on the verge of LDC graduation.
Businessmen have urged to boost Free Trade Agreement (FTA) and Preferential Trade Agreement (PTA) with various countries and regional cooperation organisations as a preparation for the challenges Bangladesh will face in the international market after the LDC graduation in 2026, said a press release.
“We have to prepare for the LDC graduation from now. Businessmen and entrepreneurs from different sectors of Bangladesh should come forward,” stated MA Momen, Vice President of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI), as the chief guest at the Standing Committee’s second meeting on International Affairs, International Trade Bodies, Development Partners, and Strategic Partners.
“We are organising the Bangladesh Business Summit next March to highlight the promising sectors of Bangladesh to foreign investors. The FBCCI is working tirelessly to achieve the goal of economic prosperity,” he continued.
Md Amin Helaly, Vice President of FBCCI, stated that “We are on the verge of LDC graduation, so we need to start working from now to tackle the challenges. Discipline in trade is more crucial at this stage.”
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He went on to mention that FBCCI is collaborating with the Ministry of Foreign Affairs and the Ministry of Commerce to boost international investment and trade.
During the meeting, speakers emphasized the importance of entering into free trade agreements with various countries and international organizations, such as the World Trade Organization and UNCTAD, to enhance Bangladesh’s standing in the global trade system. Bangladesh must concentrate on forming bilateral agreements and improving relationships to expand foreign trade.
The Committee Director, Syed Moazzem Hossain, announced that the FBCCI will soon hold a seminar on FTA and PTA. He emphasized the importance of cooperation and coordination with foreign business organizations and investors as Bangladesh moves towards graduation from the LDC status.
The meeting was led by the chairman of the committee and former FBCCI director, Md Shafquat Haider.
The program was attended by FBCCI Directors Hasina Newaaz, Nadia Binte Amin, Abu Hossain Bhuiyan Ranu, former directors Khandaker Ruhul Amin, Mahbub Alam, Mohammad Khokon, FBCCI General Secretary Mohammad Mahfuzul Haque, former ambassador and Head of the International Division of FBCCI Masud Mannan, and others.
