Untitled Document

Mr. Yussuf Abdullah Harun, President of FBCCI addressing the Annual General Meeting (AGM)-2000

Annual General Meeting of FBCCI held.

The 26th Annual General Meeting-2000 of the FBCCI presided over by Mr. Yussuf Abdullah Harun, President, FBCCI was held on 30th December 2001 at FBCCI Conference Centre. In his address the President, FBCCI said that the world economic environment has undergone rapid changes and a new economic order has emerged. The main facets of this order are globalization and liberalization. World Trade Organization (WTO) established in 1994 has emerged as the guardian of the new order. As a signatory to the WTO it is now obligatory on us to liberalize and globalize our economy. At the same time another striking phenomenon is a proliferation of various regional and sub-regional blocs like NAFTA, EU, APEC, ASEAN etc. These groups are now working as power houses in all forums of negotiations under the WTO regime putting other unorganized countries particularly the LDCs at a disadvantage. The South Asian countries have also formed SAARC but it is yet to act as cohesively as other trade blocs.
He also mentioned that the economic prospects do not look very bright: Our biggest foreign exchange earner, the RMG sector was already facing a tough situation following the US TDA 2000 whereby 72 African and Latin American countries were given special preference. Although Bangladesh is a least developed country under the WTO standard, it has not been provided such facilities for Garments Export to USA. Besides that recent global economic recession, terrorist attack on 11th September 2001 in USA, current Afgan War and falling prices in the international market are leading to sharp drop in the exports of ready made garments, knitwears, frozen foods, leather goods, shrimps, etc. of Bangladesh, he added.
In order to salvage the export oriented garment sector we must undertake vigorous economic diplomacy. We should carefully prepare our case for seeking duty free and quota free access into the US and European market.
FBCCI President stated that, remittances from non-resident Bangladeshis overseas have also been showing downward trend. The foreign exchange reserve is uncomfortably low at around USD 1 billion. Due to lower imports there is a shortfall in revenue collection too. The state owned enterprises (SOEs) are bleeding the economy. The losses incurred by the SOEs are about 8% of the budget. The law and order is likely to be strained further with worsening economic situation. This is undoubtedly a hard time for us, the FBCCI Chief mentioned.

Mr. Yussuf Abdullah Harun, President, FBCCI speaking at the Annual General Meeting (AGM) of FBCCI for the year 2000 at FBCCI Conference Centre.

Mr. Harun opined that the first and foremost need is to ensure law and order in the country with an iron hand. The new Government is alive to the problem. This has already been stated by the Hon'ble PM as the top priority of the Government. But we are yet to see marked improvement.
The FBCCI Chief said that in order to develop the industrial sector we must establish areas of competitive advantages and link with overseas market access. We must raise our level of productivity which intern depends on availability of efficient service e.g. ports & customs, sound infrastructure e.g. energy supply, market-based, financial institutions, law and order situation and a supportive export/fiscal policy.
If we are to globalize our economy we must gain competitiveness both in management and production. Therefore, we must right size our administration, dis-invest the state owned enterprises, carry out reforms in the financial sector and the capital market as well as the judiciary.
Reforms are necessary for recovery as well as boosting the growth of the economy. But these are never easy in any country. There must be a very strong political will to implement reforms.
As regards gas, the only way we can decide whether to export or not is after all the facts and statistics are made available to the people. We need to know the level of proven reserve, probable reserve and domestic consumption level. Only then we can ascertain whether, there is an exportable surplus. We must explore feasibility of various value addition to our gas e.g. power generation, gas based industries.
Terming corruption as another evil eating into the vitality of the economy and the nation, the FBCCI President mentioned that the best way to curb corruption is to restrict government procurement to minimum through increased privatization, reduce discretionary power of the bureaucrats, ensuring good governance, political will on the part of Govt. to institute accountability and transparency at all levels.
The Federation Chief also highlighted what FBCCI had endeavoured to do for the promotion of trade & industry from the private sector during the outgoing year. He said, FBCCI in collaboration with the Government made a vigorous drive in search of direct foreign investment and enhancing trade.
He also mentioned that FBCCI had interaction with many high level delegations led by Ministries & High dignitaries from different foreign countries and also held discussions with heads of foreign missions and multilateral organizations.
He mentioned that FBCCI played a proactive role in the formulation of the national budget, formulation and review of export and import policies, removal of impediments to growth of trade, investment and industry and above all for ensuing a congenial and business-friendly environment. He stressed the need for reforms of organizational structure of FBCCI in order to build it up as a strong organization enhancing leadership capacity. The FBCCI President thanked the present government for their prompt action to reduce the Bank Rate by 1% and Interest on Export by 3%.
FBCCI Vice President, Mr. Mohammad Ali and Directors of FBCCI were also present on the occasion. Among the speakers were Mr. Nurul Haq, Mr. Mostaque Ahmed Robi, Mr. Manzur Ahmed, Mr. Md. Yunus, Mr. A.K.M. Shamsoddoha, Mr. Rafiqul Haque, Mr. Mir Nasir Hossain, Mr. Khurshid Ali Mollah, Mr. Delwar Hossain, Mr. Dewan Sultan Ahmed, Mr. Abdul Taher Majumdar, Mr. Moyenuddin Ahmed Manik, Mr. Abu Alam Chowdhury, Mr. Abdul Mannaf, Mr. Kazi Akram Uddin, Mr. Rafiqul Islam, Mr. Iqbal Jamal Jewel and Mr. Khoka Sikder. The speakers made many valuable suggestions including law and order situation and reforms of FBCCI which will be taken up by the FBCCI in the next years programme. The meeting was rounded up by lunch.

Mr. Yussuf Abdullah Harun, President of the FBCCI is addressing a Workshop on "Modernizing IT Industries in Bangladesh" jointly organized by FBCCI and TechBangla on 31st December 2001at FBCCI Conference Centre. Dr. Sheikh Mizan, Coordinator of TechBangla, Mr. Md. Akhtaruzzaman Manju, Director, FBCCI and Mr. Khaled Azizi Sumon are also seen in the picture.

Need for modernizing IT Industries underscored

Experts from home and abroad stressed the need for modernizing the Information Technology (IT) industries in Bangladesh to enable the country cope with the everyday's momentous changes in the global scenario. They said, a rapid development of IT sector was a must since information and communication technologies were mainly driving the process of changes, making transactions faster and cheaper and facilitating the global communications along with easy availability of goods and services around the world. FBCCI President Mr. Yussuf Abdullah Harun inaugurated the day-long Workshop on "Modernizing IT Industries in Bangladesh" jointly organized by the FBCCI and TechBangla at FBCCI Conference Centre on 31st December 2001. FBCCI Vice-President Mr. Mohammad Ali was the special guest while its Director In-charge of the FBCCI Standing Committee on IT Mr. Md. Akhtaruzzaman Manzu supervised the Workshop. TechBangla coordinator Dr. Sheikh Mizan, Mr. Khaled Azizi from Canada and Mustafizur Rahman from United States conducted the technical sessions such as e-commerce, software engineering and system analysis. The IT professionals and representatives of IT business houses took part in the Workshop.
Mr. Yussuf Abdullah Harun in his opening address put forward six proposals for speedy development of the IT sector in Bangladesh as it would widen all scopes to get in closer touch with the innovations of the 21st century. "IT and software industry has tremendous potentiality in Bangladesh", he said while appreciating the governments since re-efforts to develop it as a thrust sector.
The six proposals are : Speeding up privatization of telecom sector, installation of fibre optic links with sub-marine cables, easy availability of tele-connection at competitive price, introduction of soft term and interest-free government credit for IT enabled services including e-commerce, transforming younger generations into IT professionals and raising expenditure in the IT sector to one per cent of GDP.
The FBCCI chief praised the government for its efforts to expand the IT sector with introducing computer education at all levels of education, allowing duty-free import of computer, involving private sector in tele-communications, approving installation of V-sat and undertaking projects to set up Submarine Cables.

Mr. Yussuf Abdullah Harun, President, FBCCI is addressing a joint meeting of the FBCCI, Bangladesh Computer Samity (BCS), Internet Service Providers Association of Bangladesh (ISPAB), Bangladesh Association for Software and Information Services (BASIS) and TechBangla on 8th January 2002 at FBCCI Board Room to formulate FBCCI recommendations on Draft IT Policy of Bangladesh. FBCCI Vice President Mr. Mohammad Ali, Director Md. Akhtaruzzaman Manju and AmCham President Mr. Aftab-Ul-Islam are also seen in the picture

FBCCI formed Task Force to draft ICT Policy

An 11 Member Taskforce has been formed at a meeting at the FBCCI on 8th January 2002 at FBCCI Board Room in order to prepare a draft private sector - friendly policy on Information Communication Technology (ICT). Mr. Md. Akhtaruzzaman Manju as Convenor and Mr. Mustafa Jabbar as Co- convenor will submit the draft policy to FBCCI, which would take it up with the Government in early March.
The meeting chaired by FBCCI President Mr. Yussuf Abdullah Harun discussed the proposed IT Policy Representatives from the Bangladesh Computer Samity (BCS), Internet Service Providers Association of Bangladesh (ISPAB), Bangladesh Association for Software and Information Services (BASIS), TechBangla and Professionals in the sector took part in the discussion.
FBCCI President said since private sector nurtures the IT sector, the lead should come from them in framing the policy, while the Government should act as a facilitator. Referring to his meeting with the Hon'ble Telecommunications Minister, the FBCCI President said before finalizing ICT Policy, the Government has agreed in principle to wait until policy proposals come from the private sector.
Mr. Mustafa Jabbar said any policy ignoring the voice of the related sector can never be a success. IT people were never consulted in the process of drafting the policy.
The present policy, formulated four years back, envisaged a target of $ 2 billion exports from IT business by 2005, but no roadmap was directed, Mr. Md. Akhtaruzzaman Manju said. Mr. Aftab-ul Islam said policy for ICT must be flexible and changeable in every six month.

Mr. Yussuf Abdullah Harun, President, FBCCI is addressing a discussion between the trade delegation of the Terengganu State of Malaysia and the Business Leaders of Bangladesh on 10th January 2002 at FBCCI Board Room. H.E. Tuan Guru Haji Abdul Hadi Awang, Chief Minister of the State and Mr. Mohammad Ali, Vice-President of FBCCI are also seen among others.

Malaysia keen to strengthen trade ties with Bangladesh

Business leaders of Bangladesh and Malaysia evinced keen interest to strengthen the bilateral trade ties between Bangladesh and Malaysia. A trade delegation led by Hon'ble Chief Minister of Malaysia's Terengganu state H.E. Mr. Tuan Guru Haji Abdul Hadi Awang held a discussion with the Business Leaders of FBCCI to help promote trade ties between the two countries on 10th January 2002 at FBCCI Conference Centre.
Addressing the discussion meeting, FBCCI President Mr. Yussuf Abdullah Harun said both Bangladesh and Malaysia should do more business among the OIC (Organization of Islamic Conference) member countries as Muslim nations.
"Malaysia has achieved outstanding success in reviving the economy out of the recent financial turmoil that overtook the entire East and South-East Asian region and the ASEAN member country has done it entirely by its national efforts without taking outside assistance," the FBCCI Chief remarked.
Mentioning the investment incentives offered by Bangladesh, Mr. Harun invited the Malaysian businessmen saying that they are allowed to invest directly under 100 per cent ownership in joint venture industries like telecommunication, power generation, electronics, tyres and tubes, leather and leather goods, fish processing and fish canning, palm oil refinery, cement and clinker grinding, plant sodash and other chemical plants and gas-based industry.
"We strongly feel that existing investment climate in Bangladesh would certainly prove to be more congenial for the Malaysian investors than in other countries of South Asia in view of our fraternal bonds and geographical proximity," the FBCCI President observed.
Chief Minister of Malaysia's Terengganu state and the leader of the trade delegation H.E. Mr. Tuan Guru Haji Abdul Hadi Awang in his speech said more projects are needed in future to improve the bilateral trade ties. He said that trade fair and seminar would be held in the Malaysian state in April this year, where Bangladesh would be officially invited to attend.
FBCCI Vice President Mr. Mohammad Ali and Director Mr. M.A. Rouf Chowdhury were present among others, in the meeting.

Mr. Yussuf Abdullah Harun, President of the FBCCI is presenting a crest of FBCCI to Hon'ble Minister for Forest and Environment, Mr. Shajahan Siraj at a discussion on "Industrial Sector and Environment Conservation" organized by FBCCI on 15th January 2002 at FBCCI Conference Centre.

Chance of deferring countrywide ban on Polythene ruled out

The government would take the final decision soon on the issues relating to environment pollution, specially in the city due to black smoke emission by vehicles and solid wastage and it will take necessary actions in this connection from next month.
Hon'ble Minister for Forest and Environment Mr. Shajahan Siraj disclosed this while speaking at a discussion on "Industrial Sector and Environment Conservation" organized by FBCCI on 15th January 2002 at FBCCI Conference Centre. The discussion meeting was presided over by FBCCI President Mr. Yussuf Abdullah Harun.
The Hon'ble Minister, however, said that the March 1, 2002 deadline for imposition of the countrywide ban on use and marketing of polythene shopping bags would not be extended. The ban has already been imposed in the capital city and Khulna. He said the government will help recover the losses faced by the polythene bag manufacturers and the workers concerned following the ban on the items.
The Hon'ble Minister made the reply as the business community at the discussion made an appeal to the government to extend the time set for the ban on use and marketing of polythene bags.
Supporting the government's decision, they said the polybag manufacturers have faced huge losses due to the imposition of the ban as a huge amount of their money has already been stuck up in the market. The manufacturers will be able to recover as well as minimize their losses if the government give them more time. they observed.
Replying to this, the Hon'ble Minister said the manufacturers got sufficient time as several initiatives were taken earlier to ban the use of polybag as the item was found to have an adverse impact on environment. He, however, said the manufacturers can export polybags as there is no restriction on their export. He also said in the meeting an exhibition of substitutes for polybags will be organized soon in the city.
Hon'ble State Minister for Forest and Environment Mr. Zafrullah Chowdhury, Director General of the Directorate of Environment Mr. M. Hedayetullah and a good number of industrialists and businessmen took part in the discussion.
Speaking on the occasion, the FBCCI President Mr. Yussuf Abdullah Harun hailed the government's decision of the ban on polybags and requested the government to take necessary measures to rehabilitate as well as compensate those who have been affected due to the imposition of the ban.

Prime Minister calls for varied use of Jute,
more Investment in the sector

Hon'ble Prime Minster Begum Khaleda Zia has called for increasing diversified use of jute and attracting more investment in this sector to regain the lost glory of the "golden fibre." "We'll have to utilize the huge potential of diversified use of jute in the wake of growing environmental awareness across the globe", she said while inaugurating an Exhibition and Seminar on diversified jute products organised by the Ministry of Jute in Association with the FBCCI, Export Promotion Bureau (EPB) and Trust for the Jute Study Group at the Bangladesh-China Friendship Conference Center on 23rd January, 2002.
"The world is witnessing growing awareness about environment. In this perspective, there is a bright prospect of increasing the world-wide demand of environment friendly jute products," the PM told the Seminar. She recalled the glorious heritage of Jute, which was once the highest foreign exchange earning sector of the country. She noted that the demand of jute decreased with the use of artificial and synthetic fiber.
"Despite the shrinkage of world market of jute, Bangladesh still earns huge foreign exchange by exporting jute and jute products. This is now the third highest earning sector of the country," she said.
The Hon'ble Prime Minister said the country would have to devise future plan for jute export through massive research and survey. "As a major jute producing country, it's due time for us to take advantage of growing demand of natural fiber.
Citing various research findings, the Hon'ble Prime Minister said value-addition of jute products by using wood and plastic with jute in manufacturing furniture would create employment opportunity in the county.
Among others FBCCI President Mr. Yussuf Abdullah Harun spoke on the occasion.

Mr. M. A. Rouf Chowdhury, Chairman of the OIC Task Force on SME is seen presiding over the closing session of the first Meeting of the OIC Task Force on SMEs and the ralated Seminar, Among others H.E. aqeel A. Al-Jassem, Seceretary General of Islamic Chamber of Commerce & Industry and representatives from Iran, Kazakhstan and Mozambique are also seen.

The First Meeting of OIC Task Force on Small & Medium Enterprises (SMEs) and the related Seminar held

Mr. Abdul Matin Chowdhury, M.P., Hon'ble Minister for Textile inaugurated the First Meeting of the OIC Task Force on SMEs and the related Seminar as Chief Guest on January 27, 2002 at Dhaka Sheraton Hotel, Dhaka jointly organized by FBCCI, Islamic Chamber of Commerce and Industry (ICCI) and Islamic Development Bank (IDB).
More than 100 distinguished participants around the OIC member countries, such as, Bangladesh, Mozambique, Kazakhstan and Islamic Republic of Iran as well as Islamic Development Bank (IDB) attended the Task Force Meeting and the Seminar.
The inaugural session was presided over by FBCCI Vice President, Mr. Mohammad Ali. H.E. Mr. Aqeel A. Al-Jassem, Secretary General of ICCI and Mr. Al-Amin Chaudhury, Secretary of the Ministry of Industries as Guest of Honour and Mr. Enam Ahmed Chaudhury, Chairman of the Privatization Commission (Minister of State) as Special Guest, Mr. Azfar Hussain Qarni, Acting Head, Private Sector Promotion Section of IDB and Professor Dr. Anwar Hossain, Representative of the Secretary General of OIC were present. Representatives from the OIC countries, Directors of FBCCI, Heads of Memberbodies, General Body Members, Foreign Diplomats, High Government Officials and Leading Businessmen of the country also attended the Inaugural Session. Mr. M. A. Rouf Chowdhury, Director, FBCCI delivered the Address of Welcome.
The First OIC Task Force Meeting was held on January 27, 2002. Mr. M. A. Rouf Chowdhury, Director, FBCCI was elected Chairman of the First OIC Task Force, presided over the opening session of the said meeting.
A wide variety of important issues were raised and discussed on the growth and development of SMEs in Bangladesh, Iran, Mozambique, Kazakhstan and other OIC member states. The resource persons and experts along with distinguished participants exchanged their ideas, views, and shared their knowledge on how to promote SMEs in the OIC member states. Major issues emerged from discussions from the participants of the working sessions which are briefly summarized under the following broad heads:

1. Role and importance of SMEs.

2. Policy environment for SMEs growth and development.

3. Definitional dilemma.

4. Financing problem.

5. Marketing strategies.

6. Technological issue.

7. Management, Training and Education.

8. Research and Development.

9. a common strategy Adopting.

Three Working Sessions of the Seminar were held, spreading over three days, January 27-29, 2002. After each session, there was open discussion among the participants. Comments and opinions were invited, with due consideration for inclusion in the final recommendations. Presentations were made in these sessions by Mr. M. A. Rouf Chowdhury, Mr. Mohammad Ibrahim, Mr. Abdur Raquib, Mr. Syed Nasir A. Mirza, Mr. Mohammad Younus, representatives from Iran, Kazakhstan and Mozambique, Prof. Dr. A.B.M. Zohrul Kabir, Mr. Zamal Uddin Biswas and Mr. A.S.M. Mainuddin Monem.
In the concluding session, the Report of the 1st OIC Task Force on SMEs and the related Seminar as well as Exhibition was presented by Mr. M. A. Rouf Chowdhury, Director, FBCCI in the capacity of Chairman of the 1st Task Force.
In the closing statement, H.E. Aqeel A. Al-Jassem, Secretary General, Islamic Chamber of Commerce and Industry stressed the significance of the SMEs in Bangladesh which form the backbone of Bangladeshi economy and thanked all the participants, who made valuable and tangible contribution during the Meeting and Seminar.
In his concluding statement, Mr. M. A. Rouf Chowdhury said that there is enormous potential for expansion of both trade and investment within OIC Countries. He hoped that the OIC Task Force on SMEs under the guidance of Islamic Chamber could play a crucial role in helping this process of co-operation in the field of SMEs to the benefit of all OIC Member Countries. In this regard, IDB will also be able to play an equally critical role.

Islamabad to consider Duty Free access of Tea and Jute

At a meeting with the FBCCI on 28th January 2002 at FBCCI Conference Centre, Hon'ble Pakistan Minister for Commerce, Industry and Production Mr. Abdul Razak Dawood said trade figures between the two countries was in favour of Pakistan. The Pakistan trade Minister suggested a business alliance with Bangladesh to improve trade figures between the two countries.
He said plans should be worked out to increase the trade volume between the two countries through formation of a regional business alliance that would create situation acceptable to both sides. "It should be a win-win situation in trade for both the countries." We are here not to boost our trade only. We want to create a situation that is beneficial to both the sides, he added.
Bangladesh has already placed a list of 21-category products to the delegation for duty-free access to Pakistan market. In this regard the Pakistan minister said, "I will look into at least two categories tea and jute immediately after returning home."
Pakistan High Commissioner to Bangladesh Mr. Iqbal Ahmad Khan was also present at the meeting with FBCCI President Mr. Yussuf Abdullah Harun in the chair.
The business delegation of Pakistan represented textiles, food, textile machinery, agricultural machinery, surgical instruments, cutlery and fan manufacturing industries.
The Pakistani minister said his country has a beautiful export centre in Karachi and it is of international standard. Bangladeshi exporters can display their products at the centre to attract Pakistani buyers. The minister also said he could make arrangements to facilitate discount for Bangladeshi goods at the centre.
FBCCI President Mr. Yussuf Abdullah Harun said the government is disinvesting a number of state-owned jute, textile and engineering enterprises and he invited Pakistani entrepreneurs to avail such opportunities. There is also a vast potential of setting up composite textile mills in Bangladesh to meet about three billion meters of annual fabric demand, he added.

Photographs show the Directors of Chambers Group and Association Group of FBCCI led by its President Mr. Yussuf Abdullah Harun along with Vice-President, Mr. Mohammad Ali called on Hon'ble President of Bangladesh Prof. A. Q. M. Badruddoza Chowdhury at Bangabhaban on 28th January 2002.

FBCCI Team meets Hon’ble President

A 20-member delegation led by Mr. Yussuf Abdullah Harun, President, FBCCI called on Hon'ble President of Bangladesh Prof. A. Q. M. Badruddoza Chowdhury at Bangabhaban on 28th January 2002.
FBCCI chief apprised the Bangladesh President of some problems facing the business community of the country. President Prof. Chowdhury gave them a patient hearing and said that he will look into the problems the members had mentioned. He said that the business community should take appropriate steps in popularising the Bangladeshi goods abroad and create a fund for that purpose. This will help attracting foreign buyers of Bangladeshi goods, some of which attained world standard, he observed. The Hon'ble President hoped that the members of the business community will play their due role for the interest of the nation.

Finance Minister seeks cooperation in resolving existing conflicts in business arena

Hon'ble Minister for Finance and Planning Mr. M. Saifur Rahman, M.P. sought cooperation from the FBCCI in resolving existing conflicts in business arena and creating a healthy investment-friendly environment. He made the call when a delegation of the FBCCI led by its president Mr. Yussuf Abdullah Harun met him in NEC Conference Room on 30th January 2002.
The Hon'ble Minister said, "Various complexities and conflicts in trade and commerce do not have any easy solutions. He, however, assured the business delegation of examining their proposals and asked them to provide a coordinated and clear recommendation identifying the problems they face.
The delegation apprised the minister of various hurdles and harassment they are subjected to by the PSI agencies.
The Hon'ble minister assured them of looking into the matters. He said Bangladesh Bank would monitor and evaluate the activities of exchange houses.
The recommendations made by FBCCI include diversifying exports, restoring confidence in capital market, curbing smuggling and reducing public expenditure. The FBCCI president said: " We are passing through difficult times."
On one hand, exports are falling in the face of sluggish demand, cut-throat competition and falling prices
in the world market and on the other successive governments in the past had avoided much needed structural reforms and failed to upgrade and build necessary social, legal and physical infrastructures, the team said in a written submission.
Through economic diplomacy, the country must obtain special duty-free access to various markets, it said, hoping the economic diplomacy and private sector efforts with the USA would yield beneficial results in the near future. "We should also market our products aggressively to Japan, Eastern Europe, Australia and ASEAN. As regards new products, we have a tremendous opportunity in the EU market with agro-processed products." "We should also ascertain the requirement of different manpower-importing countries and accordingly, arrange training and skill development to achieve more value added manpower export," it said, also calling for formulating a sound IT policy to develop and export software and IT enabled services.
The FBCCI also called upon the government to open up the telecom sector without further delay, saying this would unlock huge domestic and foreign investments.
On smuggling, it said no measures so far could substantially check smuggling. It encourages hundi, deprives government of import revenues, creates unfair competition for local industries and is not subject to quality control, it added.
The FBCCI also suggested that in sectors where investment is saturated and where there is no export possibility "tax holiday" should be withdrawn as this is rendering existing industries sick and also encouraging unfair practice.
On privatisation, it said the country must formulate disinvestment policy with due regard to workers interest on an urgent basis, Once the policy is finalised, disinvestment must be pursued ruthlessly and speedily, it added.
The FBCCI welcomed the decision to drop low priority ADP projects and expressed the hope that substantial savings would be made on this account. "But we have not yet received sufficient evidence of revenue expenditure being reined in."
It said a comprehensive package has to be crafted to, inter alia, generate more purchasing power, cut back revenue expenditure sharply, mobilise increased revenue from VAT and income tax and broaden the tax base, disinvest SOE, stimulate export and embark on structural reforms.

Mr. Yussuf Abdullah Harun, President of the FBCCI addressing a Workshop on "Third Generation Broad Band Wireless Network" on 31st January 2002 at FBCCI Conference Centre. Mr. Mohammad Ali, Vice-President, FBCCI, Mr. Md. Akhtaruzzaman Manju, Director, FBCCI and Mr. Khadem Yusuf Ripon, keynote speaker of the workshop are also seen in the picture.

New technology of Broadband Wireless Network introduced

A US based Bangladeshi telecommunications engineer has introduced a new technology of broadband Wireless Network suiting the needs of business users in major cities like Dhaka. This high-speed system, now being used in US cities like San Francisco, does not require any outdoor antenna like other existing radio networks.
"It also does not require recurring license fees and has no third party dependence like BTTB," Mr. Khadem Yusuf Ripon said while explaining the features of the Secure High Data Non-Line-of-Sight (NLOS) wireless network at a Workshop organised by the FBCCI on 31st January 2002 at FBCCI Conference Centre.
A single base station would be able to serve as many as 40,000 users in Dhaka. The cost as per US Market price would be 40,000 to 80,000 US dollars for the base station and 750 dollars for each connection, the young engineer estimated.
Mr. Khadem Yusuf also had a multimedia presentation to show how this network is different from and user-friendlier than point-to-point, point-to-multipoint and mesh-network, all evolved in last couple of decades.
All such systems, he said, require outdoor antenna and roof access, which are subjected to external obstacles like storm, rains and high-rise between two connections. But this wireless network needs indoor antenna, which is secret and secure, he added. This network will also have the access to Internet, he said.
FBCCI president Mr. Yussuf Abdullah Harun hoped that a secure high data rate NLOS Wireless Network would be highly helpful for business users in Dhaka. FBCCI Vice President Mr. Mohammad Ali and FBCCI Director and Director Incharge of the FBCCI Standing Committee on Information Technology and Intellectual Property Rights, Mr. Md. Akhtaruzzaman Manzu also spoke on the occasion.

Mr. M.K. Anwar M.P. Hon'ble Minister for Industries addressing at a workshop on "Privatization of the State Owned Utilities" on 6th February 2002 at FBCCI Conference Centre. Mr. Enam Ahmed Chaudhury, Chairman of the Privatization Commission, Mr. Yussuf Abdullah Harun, President, FBCCI, Mr. Mohammad Ali, Vice-President, FBCCI and Mr. Abul Kashem Ahmed, Director, FBCCI are also seen in the picture.

Government wants to privatise Utility Services gradually, not overnight

Hon'ble Minister for Industries Mr. M. K. Anwar, M.P. said the government wants to implement the privatisation process of utility services gradually, not overnight. "We are in favour of privatising the utility services but we won't jump into the fire. We would proceed gradually, " he said while speaking at a Workshop on "Privatisation of the state-owned utilities" as the Chief Guest on 6th February 2002 at FBCCI Conference Centre organised by FBCCI. Privatisation Commission (PC) Chairman Mr. Enam Ahmed Chaudhury attended the function as the Special Guest.
Mr. Mizanur Rahman Shelley, Chairman, Centre for Development Research Bangladesh presented the key-note paper, which was in fact a final report of a study sponsored by FBCCI, at the Workshop. FBCCI President Mr. Yussuf Abdullah Harun, former PC Chairman Kazi Zafrullah and FBCCI Adviser Mr. S M Al Husainy, among others, took part in the discussion.
The Hon'ble Minister laid emphasis on the co-existence of public and private sector organisations for enhancing service quality in a number of areas. Mr. Anwar cited the experiences of privatising a number of state owned enterprises (SOEs) especially of the Bangladesh Chemical Industries Corporation (BCIC) and Bangladesh Steel Engineering Corporation (BSEC). Seventy-three BCIC units out of a total of 97 were sold out but only 25 of them are running well, he mentioned.
Mr. Enam Ahmed, in his speech, said it is very important to keep it in mind before privatizing utility services that failure of private sector in running the services satisfactorily may cause immense miseries to the commoners.
The key-note presenter said historically the utility services in the country, including electricity, telecommunication, water and gas, are the areas of the government's absolute monopoly maintained through public sector operation. The private sector's participation in the areas has been discouraged under a tight regulatory and policy regime, he mentioned.
But the public utilities have given rise to several fundamental problems including making of losses, non-response to customers need, etc. he added. Mr. Shelley said the private sector may play a vital role in achieving the desired high growth in a highly liberalised market-oriented environment.

Hon'ble State Minister for Science and Technology Mr. Mohammad Lutfor Rahman Khan Azad M.P. as Chief Guest addressing a seminar on "Application of Internet in business" on 6th February 2002 at FBCCI Conference Centre. FBCCI President Mr. Yussuf Abdullah Harun, Vice-President Mr. Mohammad Ali, FBCCI Director Mr. Md. Akhtaruzzaman Manju and the Key-note presenter Mr. SM Iqbal are also seen in the picture.

Seminar on "Application of Internet in Business"

Business Leaders of the FBCCI urged the government to open up the telecommunication sector from the monopoly of state-run BTTB in a bid to make long-due breakthrough in the information technology (IT) while they were speaking at a Seminar on "Application of Internet in business" organized by the FBCCI on 6th February 2002 at FBCCI Conference Centre
Lack of Submarine Cable connectivity and insufficient telecom services are the major obstacles to the IT growth, they mentioned.
The Government's step not to include any body from the private sector in the recently formed telecom regulatory body also came under criticism in the seminar.
Hon'ble State Minister for Science and Technology Mr. Mohammad Lutfor Rahman Khan Azad inaugurated the Seminar as Chief Guest. Mr. SM Iqbal, Managing Director of Information Services Network (ISN) Ltd. presented the key-note paper. FBCCI President Mr. Yussuf Abdullah Harun presided over the seminar.
The Hon'ble State Minister said the National IT Task Force has been formed headed by the Hon'ble Prime Minister to bring dynamism in the IT sector. Mentioning the Government's commitment to develop the IT sector, the State Minister said it will extend all sorts of cooperation to the private sector.
Mr. Yussuf Abdullah Harun said the FBCCI will submit a set of recommendation on the IT sector to the Government soon and hoped those could be considered while formulating the future IT policy. Terming the Internet a cost saving tool, Mr. S M Iqbal in his keynote paper, said Internet is a potential source of business. However, the prospect of such technology in business depends on entrepreneur's vision and management skill, he added. He noted the introduction of Fiber Optic Cables or Submarine Cable is necessary to get the maximum benefit of Internet.

H.E. Dr. Kamal Kharrazi Hon'ble Iranian Foreign Minister is addressing a discussion meeting between the Iranian Trade Delegation and the Business Leaders of Bangladesh on 15th February 2002 at FBCCI Conference Centre. Hon'ble Bangladesh Foreign Minister Mr. M Morshed Khan, M.P., Ambassador of Iran H.E. Mr. Mohammad Rezaei Nouri, FBCCI President Mr. Yussuf Abdullah Harun and Vice-President Mr. Mohammad Ali are also seen in the picture.

Dhaka, Tehran to remove impediments to improve economic relation

A 20 member delegation led by Dr. Kamal Kharrazi, Hon'ble Iranian Foreign Minister and Bangladesh Foreign Minister Mr. M Morshed Khan, M.P. addressed the meeting on 15th February 2002 organised by FBCCI at FBCCI Conference Centre. FBCCI President Mr. Yussuf Abdullah Harun chaired the meeting. Iranian Deputy Minister of Commerce, Mr. Khosru Taj and FBCCI Vice -President Mr. Mohammad Ali, among others, were present.
Iranian Foreign Minister Dr. Kamal Kharrazi laid emphasis on expansion of bilateral cooperation in economic and commerce and hoped that the both countries would be able to undertake concrete efforts in increasing bilateral trade exchanges.
Foreign Minister M. Morshed Khan urged the private sectors of both Bangladesh and Iran to avail all available opportunities in the greater interest of much higher trade and business between the two countries for the benefit of the two nations. "Private sectors of Bangladesh and Iran are not doing well in raising the current trade volume although there exist very excellent relations on the basis of historical, cultural and traditional bond between the two countries," he said.
The FBCCI President Mr. Yussuf Abdullah Harun in his welcome address spelt out the existing facilities Bangladesh has been providing for foreign investment in various profit-oriented sectors and assured of total cooperation to the Iranian counterparts to increase trade deals with Bangladesh.
He urged the Iranian counterparts to increase the volume of import of jute items from Bangladesh. He also emphasised on formation of a task force to identify the problems hindering the bilateral trade between the two countries.

Mr. Wang Qihui, Deputy Director, Department of Asian Affairs, Ministry of Foreign Trade & Economic Cooperation of China called on Mr. Yussuf Abdullah Harun, President of FBCCI on 2nd March 2002 at FBCCI Office.

Chinese Purchasing Team meets FBCCI President

A twelve-member purchasing delegation led by Mr. Wang Qihui, Deputy Director, Department of Asian Affairs, Ministry of Foreign Trade & Economic Cooperation of the People's Republic of China met Mr. Yussuf Abdullah Harun, President of FBCCI on 2nd March 2002 at FBCCI Office.
Welcoming the Chinese delegation the FBCCI Chief said that Bangladesh and China have a good relation in many aspects of trade and culture. The FBCCI President also mentioned that there are wide scopes to expand the trade relation between the two friendly countries. Mr. Harun mentioned that China has already agreed to provide special preference on 18 items of Bangladeshi exports to China. The FBCCI chief said that this will help reduce the trade gap between the two countries and suggested that China could import more items like tableware and pharmaceutical products from Bangladesh. The FBCCI President also urged the Chinese business leaders to invest in gas-based and other energy intensive industries in Bangladesh. The FBCCI President emphasized the need for exchange of business delegation from both sides and to maintain close contact between the chambers of the two countries.
Mr. Wang Qihui, leader of the Chinese delegation said that China wants to increase her imports from Bangladesh in pursuance of discussion between the Prime Ministers of the two countries during the Chinese Premiers visit to Dhaka in January.
Other members of the delegation were Mr. Yang Zhiping, Mr. Zhang Peng, Ms Pang Chunxue, Mr. Wu Yabin, Mr. Meng Quingchang, Mr. Zhang Qigang, Mr. Sun Jianwen and Mr. Qiu Aimin, Mr. Enayet Hossain Chowdhury, Director, FBCCI was also present.

Executive Chairman of BEPZA Brigadier General (Retd.) Mofizur Rahman called on FBCCI President Mr. Yussuf Abdullah Harun on 2nd March 2002 at FBCCI office.

FBCCI, BEPZA to work jointly for Investment in EPZs

Bangladesh Export Processing Zones Authority (BEPZA) and FBCCI have agreed to work in close cooperation for attracting investment in EPZs during a meeting between the Executive Chairman of BEPZA Mr. M. Mofizur Rahman and the President of the FBCCI Mr. Yussuf Abdullah Harun on 2nd March 2002 at FBCCI office.
Both FBCCI and BEPZA have agreed in principle to sign a Memorandum Of Understanding (MOU) for close co-operation in the field of industrial investment.
During the meeting Mr. Rahman apprised the FBCCI chief about the present status of the EPZs in Bangladesh and sought for federation's co-operation in attracting foreign and local private sector investment in the country's EPZs particularly in the newly established four zones in Mongla, Comilla, Ishurdi and Nilphamari.
FBCCI President said, BEPZA being a promotional organisation, can play a pivotal role for inviting local and foreign investors in Bangladesh. Among others Director of FBCCI Mr. Enayet Hossain Chowdhury and Member, Investment Promotion of BEPZA Mr. Azmal Chawdhury were present.

Mr. Yussuf Abdullah Harun, President of the FBCCI is seen distributing relief materials to the fire victims of Islambagh in Lalbagh area on 10th March. Mr. Abu Motaleb and Ms. Nasreen Awal Mintoo, Directors of FBCCI are also seen in the picture.

FBCCI relief goods for Islambagh fire victims

Executive Committee members of FBCCI led by its President, Mr. Yussuf Abdullah Harun distributed relief goods among the fire victims in the city's Islambagh area on 10th march 2002.
FBCCI leaders expressed the hope that other Chambers Leaders and Businessman of the county would come forward to give assistance to the Islambagh fire victims. They assured them of giving all cooperation in rehabilitating the small traders of the area.
Among others, FBCCI Vice President, Mr. Mohammad Ali, directors Alhaj Afzal Hossain, Alhaj Harun-Ar-Rashid, Mr. Abu Motaleb, Mr. Md. Delwar Hossain, Mr. Kamal Uddin and Ms. Nasreen Awal Mintoo were present on the occasion.

Hon'ble Minister for Industries Mr. M. K. Anwar, M.P. addressing the inaugural session of a EC-SAARC Workshop on "The European Union's, GSP scheme and regional cumulation" on 12th March, 2002 at FBCCI Conference Centre. Mr. Yussuf Abdullah Harun, President, FBCCI, Mr.Suhel Ahmed Chaudhury, Secretary, Ministry of Commerce, Mr. Abu Saleh, Vice Chairman, EPB, Mr. Jorg Volker Ketelsen, Charge d' Affaires of EC delegation in Bangladesh and Mr. Mohammad Ali, Vice-President, FBCCI are also seen in the picture.

EU to support Regional Cooperation in reducing economic disparity

European Union will provide back-up support to endeavours for consolidating and extending the regional integration and cooperation especially for reducing economic and social disparity, Charge d' Affairs of EC delegation in Dhaka Mr. Jorg Volker Ketelsen said in the Workshop.
Hon'ble Industries Minister Mr. M. K. Anwar, M.P. as Chief Guest addressed the inaugural session of a EC-SAARC Workshop on the European union's, GSP scheme and regional cumulation" organised by FBCCI in cooperation with SAARC Chamber of Commerce and Industry (SCCI) on 12th March, 2002 at FBCCI Conference Centre.
The function was presided over by FBCCI President Mr. Yussuf Abdullah Harun. Commerce Secretary Mr. Suhel Ahmed Choudhury and FBCCI Vice President Mr. Mohammad Ali spoke on the occasion.
The Industries Minister said the EU has granted the member of SAARC state the facility of regional cumulation from October 2000 which allows inputs originating in SAARC member states and processed to finished products in any SAARC member state would be counted as originated in that country provided that the value addition in the beneficiary country claiming the Generalised System of Preference (GSP) benefit is greater than the highest customs value of the inputs originating in any SAARC countries.
The Hon'ble Minister said this may be helpful in the short term to the Bangladeshi exporters particularly in the garment sector to overcome difficulties in satisfying the EC Rules of Origin requirement but may have some adverse effect in the development of backward linkages which is essential for sustainable growth of the garment industry. It has to be ensured that the garment industry gets the necessary growth facility and the textile industry is not deprived of its due role of helping the garment industry, the minister said.
The FBCCI President said in Bangladesh a debate had already been started on the SAARC Regional Cumulation (RC) issue under EU-GSP scheme. Bangladesh Garments manufacturers and Exporters Association (BGMEA) and the Bangladesh Textile Mills Association (BTMA) have come with diametrically opposite views, he said.
BGMEA is of the opinion that Bangladesh's readymade garment could enhance its competitiveness in the global market with the introduction of RC scheme while BTMA will lose its comparative advantage of local textile once Bangladesh agrees to RC.
EC consultants Ms. Fiona Carmichael and Mr. Mike Humphrey presented papers during the working session of the workshop.

Hon'ble Vice Foreign Minister of Vietnam H.E. Mr. Le Cong Phung speaking at a Discussion Meeting between the Vietnamese trade delegaion and the business leaders of Bangladesh on 19th March 2002 at FBCCI Board Room. FBCCI President Mr. Yussuf Abdullah Harun, Deputy Director General of Vietnamese Foreign Affairs Ministry Mr. Ho Xuan Son and FBCCI Vice President Mr. Mohammal Ali are also seen in the picture.

Boosting Bangladesh-Vietnam Trade Ties emphasised

Both Bangladesh and Vietnam can be benefited through accelerating bilateral trade in different fields including oil and gas, garments and textile, hotel and tourism, infrastructure, agro-based and service industries. The trade relations between the two friendly countries remained in a poor state despite having a tremendous potential in strengthening it. The trade volume between the two countries has been fluctuating in the range of only eight to 18 million US dollars. This was stated at a Discussion Meeting between the visiting Vietnamese delegation led by Hon'ble Vice Foreign Minister H.E. Mr. Le Cong Phung and the business leaders of FBCCI on 19th March, 2002 at FBCCI Board Room.
The meeting was also attended by Vietnamese officials, local business leaders and Government Officials of Bangladesh. FBCCI President Mr. Yussuf Abdullah Harun chaired the meeting.
Describing the bilateral trade situation as not satisfactory, the Vietnamese vice foreign minister said there is a great opportunity to increase the trade because with their large populations, both Bangladesh and Vietnam are big markets. "We had established diplomatic relationship 30 years ago. But our trade relation is not satisfactory. But we need to increase trade and economic relations substantially," he added.
Replying to a query from the Bangladeshi businessmen, Mr. Phung maintained his country has very big reserves of oil as well as gas, where foreign investments can be made. There can be joint ventures either with Vietnamese government or with the private sector or there can be foreign investments in other areas like natural resources, infrastructure, hotel and tourism and service sectors he added.
FBCCI president Mr. Yussuf Abdullah Harun said the Bangladesh government has offered one of the most liberal investment incentive packages to foreign investors in order to attract foreign direct investmens. This includes, among others, cent per cent foreign ownershio, complete legal protection, tax holidays, unrestricted repatriation of capital and profits, he added.
The FBCCI Chief also said Bangladesh can provide a low-cost production base in several sectors like agro-based industries, food processing and preservation, poultry, dairy, fisheries and livestock, light engineering, leather, rubber, textile, gas based industries and infrastructre development. He said the private sector businessmen may study possibilities for joint ventures in chemical, ceramic and glass industries in Vietnam and Bangladesh. There can be cooperation in other sectors like animal feeds, medicines, handicraft and paper pulps based on vietnamese raw materials, he added.

Mr. Amir Khosru Mahmud Chowdhury, M.P. Hon'ble Minister for Commerce addressing as Chief Guest at a Seminar on "Export Diversification : Issues and Strategies for Future" on 20th March 2002. Mr. Yussuf Abdullah Harun, President, FBCCI, Mr. Suhel Ahmed Chaudhury, Secretary, Ministry of Commerce, Mr. Abu Saleh, Vice Chairman, EPB and Mr. Mohammad Ali, Vice-President, FBCCI are also seen in the picture.

Diversification of Exports stressed to improve balance of payment

Hon'ble Commerce Minister Mr. Amir Khosru Mahmud Chowdhury, M.P. while addressing as Chief Guest the Seminar on "Export Diversification Issues and Strategies for Future" organised by FBCCI at FBCCI Conference Centre on 20th March 2002 urged the private entrepreneurs to diversify export and exploit market access without thinking much about value addition.
The Commerce Minister viewed that diversified and increased exports remain only options for Bangladesh's economy to take off the ground and reduce its dependency on external assistance.
The Hon'ble Minister pointed out that apart from looking for new export markets like CIS, Bangladeshis living abroad can also become potential export targets, which were never explored. There are some 13,000 Bangladesh restaurants in UK and their annual procurement amounts to about 37 billion pound sterling. The minister said he had requested Bangladeshi owners to import pickles and tuberose form Bangladesh. He urged local women entrepreneurs to at least set up pickle industries for export. Middle East, USA and other countries could be good destinations for export of indigenous goods, he said.
Commerce Secretary Mr. Suhel Ahmed Choudhury, FBCCI President, Mr. Yussuf Abdullah Harun and Vice President, Mr. Mohammad Ali, and Export Promotion Bureau (EPB) Vice Chairman Mr. Abu Saleh also spoke at the seminar.
FBCCI President, Mr. Yussuf Abdullah Harun said accelerated development and diversification of export are needed for easing the pressure on balance of payment situation and for the viable growth of agriculture and industrial sectors.
Although Bangladesh's exports registered a regular growth over the last few decades, recently it faced a negative trend as export earning trailed the target by US$ 388 million in first six months of the current fiscal. All major sectors marked a negative growth, the apex trade body leader noted with concern.
He put forward a set of recommendations of the FBCCI for the next five-year export policy, which is in the offing, suggesting steps to expand Bangladesh's share.

Mr. Amir Khosru Mahmud Chowdhury M.P., Hon'ble Minister for Commerce addressing a seminar on "Post-Doha WTO Negotiations: Future Strategy for SAARC Countries" jointly organized by FBCCI and SCCI on 28th March 2002 at a Local Hotel. Hon'ble State Minister for Commerce Mr. Barkat Ullah Bulu, FBCCI President Mr. Yussuf Abdullah Harun and Vice-President, FBCCI Mr. Mohammad Ali are also seen in the picture.

Government to face WTO Challenges : Commerce Minister

Laying emphasis on strengthening the Tariff Commission and the WTO Cell, Hon'ble Commerce Minister Mr. Amir Khosru Mahmud Chowdhury inaugurating the second Seminar on "Post-Doha Negotiations: Future Strategy for SAARC Countries" jointly organised by FBCCI and SAARC Chamber of Commerce and Industry (SCCI) at a city hotel on 28th March 2002 said that the government would take all preparations to cope with the WTO challenges.
Hon'ble State Minister for Commerce Mr. Barkat Ullah Bulu, Commerce Secretary Mr. Suhel Ahmed Choudhury and SCCI Programme Coordinator Mr. Waqar Ahmed spoke at the inaugural session of the Seminar with FBCCI President Mr. Yussuf Abdullah Harun in the chair. FBCCI Vice President Mr. Mohammad Ali gave the vote of thanks.
Describing the WTO a reality for all its 144 signatory countries, Mr. Amir Khosru Mahmud Chowdhury said, the least developed countries (LDCs) including the SAARC members have to find out the common grounds for negotiations in the WTO.
The Commerce Minister put importance on capacity building in this regard and said, "we have to fix our strategies, priorities and requirements before entering into negotiations. But, we lack manpower and professionals in doing so.
State Minister for Commerce Mr. Barkat Ullah Bulu said that Bangladesh attached great importance to the new round of WTO negotiations. "We are not opposed to discussions on any area provided it is approached from the perspective of trade promotion."
Commerce Secretary Mr. Suhel Ahmed Chowdhury said, "We need to fix our positive agenda as soon as possible, otherswise we will miss the train. We must identify areas in the service sector where we can derive benefit from liberalisation."
Referring to the Doha ministerial conference, FBCCI President Mr. Yussuf Abdullah Harun said Bangladesh and other SAARC countries had taken a strong stand in favour of duty free or reduced duty and quota free access of their products to the market of the rich countries.
Experts and business leaders from SAARC countries including Bangladesh, Pakistan and India took part in the technical session of the seminar. Issues like "Strategic view of current WTO negotiations and developing countries" discussed.

Hon'ble Minister for Finance and Planning, Mr. M. Saifur Rahman, M.P. as Chief Guest addressing the Inaugural Session of the 12th meeting of JBCCEC Organised by FBCCI at a city hotel on 3rd April 2002. H.E. Mr. Jiro Kobayashi, Ambassador of Japan in Bangladesh, Mr. Yussuf Abdullah Harun, President, FBCCI, Mr. Mohammad Ali, Vice-President, FBCCI and Mr. Seizo Kano leader of the Japanese delegation are also seen in the picture.

Good Governance 'will attract more FDI'

Hon'ble Minister for Finance and Planning Mr. M. Saifur Rahman, M.P. underscored the need for ensuring good governance and improving the law and order situation to attract more foreign investment in the country.
"If we can ensure good governance and improve law and order, then more foreign investment will come to the country," Mr. Saifur Rahman said while addressing the inaugural session of the 12th meeting of Bangladesh-Japan Joint Committee for Commercial and Economic Cooperation (JBCCEC) Organised by FBCCI at a city hotel on 3rd April 2002. The function was also addressed by Hon'ble Commerce Minister Mr. Amir Khosru Mahmud Chowdhury, M.P., Japanese Ambassador in Bangladesh H.E. Mr. Jiro Kobayashi and leader of the Japanese delegation Mr. Seizo Kano.
In his speech, Mr. Saifur Rahman sought more private sector investment from Japan for the economic development of Bangladesh.
Japan is the leading development partner of Bangladesh as a good number of projects, including Jamuna Bridge, fertiliser factory and steel mills have been setup in the country with the financial and technical support of Japanese Government, but the Japanese private sector investment in Bangladesh is very poor.
The Finance and Planning Minister, however, urged Japanese entrepreneurs to extend their cooperation and set up high-technology-based industries in Bangladesh with a view to helping boost the country's industrial sector.
Terming agro-based industry a promising sector in Bangladesh, he called upon the entrepreneurs to invest in this sector. He also said that the government would provide a five per cent incentive to entrepreneurs in the field of setting up agro-based industries in Bangladesh. Terming Bangladesh a 'milking cow', he said the country has a tremendous prospect for gearing up its economy. "Although we have some problems, there are a lot of opportunities to develop our economy," Mr. Saifur Rahman said.
Speaking on the occasion, the Hon'ble Commerce Minister also urged the Japanese entrepreneurs to invest more in Bangladesh, specially in the fields of electronics industry and tourism. He also underscored the need for stopping hartal culture'in Bangladesh for attracting more foreign investment and for the overall economic development in the country.
In his speech, Japanese ambassador termed the 12th meeting of the Bangladesh-Japan Joint Committee a very important one and expressed the hope that it would play a vital role in exploring new areas for the economic cooperation of two countries.
Also terming Japan a major development partner of Bangladesh, FBCCI President Mr. Yussuf Abdullah Harun Said Japan is the largest bilateral donor of the country providing development assistance worth about 5.6 billion US dollars during the last 28 years.
But the trade imbalance between the two countries is against Bangladesh, he said, adding that the imbalance rose to 257 million dollars in 2000-2001 fiscal from 120.86 million dollars in 1990-91.
The FBCCI president however, observed that the imbalance could be reduced if Japanese entrepreneurs would come forward to investe either on their own or in collaboration with local entrepreneurs. He further said that Japanese entrepreneurs should invest in some potential sectors like electricity generation and transmission, telecommunication, port facilities, highways, textile, leather, electronics, computer software, chemical plants, etc.

Mr. Yussuf Abdullah Harun, President, FBCCI briefing the press at a Press Conference organized by FBCCI on 7th April 2002 at FBCCI Board Room. Mr. Mohammad Ali, Vice-President, FBCCI, Mr. Md. Akhtaruzzaman Manju and Mr. Enayet Hossain Chowdhury, Directors of FBCCI are also seen in the picture.

Dhaka-Delhi Trade Talks

FBCCI demands duty-free access of all types of goods

Mr. Yussuf Abdullah Harun, President, FBCCI while briefing the press at a Press Conference organized by FBCCI on 7th April 2002 demanded duty-free access of all types of Bangladeshi products to Indian market on non-reciprocal basis to create an "equitable" and "congenial" atmosphere for future cooperation in different sectors. He said "the issue of 25 category items has become out of date by now,"
He questioned the justification of India's seeking duty-free access for its 90 items, which India is likely to raise at the official trade talks beginning in Dhaka. "What Bangladesh deserves as an LDC, India should not ask for the same. Such an attitude will go against creation of an environment for equitable distribution of trade benefits" Mr. Harun said.
As the biggest economy in the region, the first initiative was expected from India to create an enabling environment for equitable partnership business, he felt, giving a reference to NAFTA where both the biggest economy USA and smaller one Mexico are partners on a win-win basis.
With a very narrow export base and yawning trade imbalance of $ 1 billion officially, another 1.5 billion through unofficial channels, Bangladesh expects some extent of benevolence from India, Mr. Harun said. But, all the initiative Bangladesh made so far to improve her trade with India were frustrated, the business leader told newsmen.
"India has not implemented even its Prime Minister's commitment to allow duty-free access of 25-category Bangladeshi items in last three years," Mr. Harun regretted.
Referring to private sector-level talks, the FBCCI President said the Indian Private Sector always responded positively to Bangladesh's right to get duty -free access, but their government never acted on.
To ensure an equitable distribution of benefits of trade between the two countries, FBCCI suggested amendment to Article V of the bilateral trade agreement to adopt automatic import licensing procedures for imports from either country. India should take steps to remove bureaucratic and procedural obstacles that kept various tariff concessions agreed upon by India ineffective, FBCCI President added.
FBCCI Vice President Mr. Mohammad Ali and Directors of FBCCI were present in the press conference.

Mr. Shah M. Abusl Hussain, Hon'ble State Minister for Finance addressing a FBCCI-CPD Dialogue on "Financial Sector Reforms in Bangladesh: the Next Round" on 16th April 2002. Member of CPD Board of Trustees Mr. Syeduzzaman, Governor of Bangladesh Dr. Fakhruddin Ahmed, FBCCI President Mr. Yussuf Abdullah Harun, Executive Director of CPD Dr. Debapriya Bhattacharya and Professor and Director of BIBM Dr. Toufic A. Chowdhury are also seen in the picture.

Financial Sector Reforms should get top priority

A dialogue was organized jointly by FBCCI and Centre for Policy Dialogue (CPD) on "Financial Sector Reforms in Bangladesh: the Next Round" on 16th April 2002 at a local hotel. Mr. Shah M. Abul Hussain, Hon'ble State Minister for Finance, Dr. Fakhruddin Ahmed, Governor of Bangladesh Bank, FBCCI President Mr. Yussuf Abdullah Harun, Dr. Debapriya Bhattacharya, Executive Director of CPD and Dr. Toufic A. Chowdhury, Director of BIBM were present in the dialogue. Mr. M. Sayeduzzaman, Former Finance Minister presided over the Dialogue.
The key note paper was presented by Dr. Debapriya Bhattacharya and Mr. Toufic A Choudhury made nine recommendations to carry out the next round of financial sector reforms in Bangladesh. The Paper suggested strengthening the regulatory and supervisory role of the central bank, and improving the financial viability of the NCBs. It said that those NCBs, suffering form huge capital shortfall - to the tune of Tk. 1303 crore, may be allowed to raise capital by issuing security papers in the market if fresh capital could not be injected by the government.
Speaking on the occasion, State Minister Shah M Abul Hussain said the present Government, immediately after coming to power, has identified unproductive areas where expenditures have been reduced. He also said the revenue of the Government must increase so that the Government does not require to borrow from the banking sector.
The government's recent steps to improve the official inflow of remittance reduce interest rates particularly for exports and increase revenue mobilisation had already resulted in significant improvement in the overall situation, said the FBCCI President. "Now the government must think seriously about unfinished reforms in the financial sector," Harun added. He said that the major issues to be addressed were uncompetitive lending rates, which were not yet market responsive, corporatistion of NCBs, further strengthening the role of the central bank and responding to the challenge of globalisation.
Underscoring the need to create a strong secondary market, Bangladesh Bank Governor Dr. Fakhruddin Ahmed said that the central bank was going to take immediate steps to develop the Treasury Bill market with a view to increasing liquidity in the money market.
The Governor said that by creating a link up between secondary market and capital market, the banking system could avoid the risk of capital shortfall. Injecting capital alone could not solve the entire problem as even after injecting a huge amount of money into the banking system. Desired development could not be achieved in the past years, he added. The basic task was to increase management efficiency, he noted.
Country's economists and business leaders at a dialogue pleaded for a demonstrated commitment of the political authorities towards developing a modern financial sector in the country.
It was suggested at the dialogue to undertake some immediate measures for the next round of financial sector reforms in Bangladesh.
The measures are: (I) Strengthening the Regulatory-Supervisory Base of the Bangladesh Bank; (ii) Improving the Financial Viability of the NCBs; (iii) Addressing the Problem of Debt Overhang; (iv) Dealing with the Provisioning Shortfall; (v) Creation of a Financial Restructuring Authority; (vi) Measures for increasing Corporate Efficiency; (vii) Enhancing Efficancy of the Legal System; (viii) Creation of Secondary Market for Bonds and Loans; and (ix) Dealing with the Illegal Trade Union Activities.
Chairman of the Sonali Bank Mr. Amirul Islam Chowdhury, Former ERD Secretary Mr. Moshiur Rahman, Mr. Md. Taher Uddin Managing Director of Mercantile Bank, Mr. Anisul Huq, Managing Director of Bank Asia, the Executive President of Islami Bank, President of Panchagarh Chamber, Former Deputy Prime Minister Mr. Jamaluddin Ahmed, President of Bangladesh Association of Banks Mr. Akram Uddin and Noted economist Prof Abu Ahmed expressed their views in the Dialogue session.

Mr. Fuse Makoto, Team Leader of Japan International Cooperation Agency (JICA) as Chief Guest addressing a Workshop on "Growth of Internet and Potential of ICT in Bangladesh" on 24th April 2002 at FBCCI Conference Centre. FBCCI President Mr. Yussuf Abdullah Harun and FBCCI Director, Mr. Md. Akhtaruzzaman Manju are also seen in the picture.

FBCCI Seeks Japan's Support for ICT Growth

FBCCI President Mr. Yussuf Abdullah Harun sought Japanese cooperation to produce skilled manpower in Information and Communication Technology (ICT) sector while he was addressing at a Workshop organized by FBCCI on 24th April 2002 FBCCI at FBCCI Conference Centre. Mr. Fuse Makoto, Team Leader of Japan International Cooperation Agency (JICA) joined the Workshop on "Growth of Internet and Potential of ICT in Bangladesh" as Chief Guest. Local ICT entrepreneurs and business leaders took part in the discussion.
The FBCCI President urged JICA to take the initiative in arranging necessary training courses for Bangladeshi people in Japan to help develop the ICT sector in Bangladesh. He listed the bottlenecks against the growth of Internet Service as the lack of sufficient infrastructure and investment, and intellectual property rights, licencing issue and cyber laws.
Mr. Harun suggested formulation of new regulations and laws on internet service and initiatives for self-regulation in ICT from private sector and increased cooperation from foreign companies for more internet access.
Participants suggested arrangements for e-transactions to support e-commerce through legalising electronic signature.
JICA team leader Mr. Fuse Makoto referred to examples of interest in ICT use in the rural area as he visited a Grameen Kiosk in a village where rural people were exchanging e-mails.
"This is the evidence of ICT use in rural Bangladesh," he said, stressing the need for ICT infrastructure development in the rural areas.
Internet Service Providers Association of Bangladesh (ISPAB) President and FBCCI Director Mr. Md. Akhtaruzzaman Manju moderated the Workshop while ISPAB secretary general Mr. Ershad Shafi Chowdhury presented the keynote paper.

Hon'ble Minister for Finance and Planning Mr. M. Saifur Rahman, M.P. as Chief Guest addressing the 23rd Consultative Committee Meeting of the National Board of Revenue (NBR) on 28th April 2002. Hon'ble State Ministers for Finance and Planing Shah Muhammad Abul Hossain M.P. and Mr. Anwarul Kabir Talukder M.P., Chairman of NBR Dr. Shoaib Ahmed, FBCCI President Mr. Yussuf Abdullah Harun, Finance Secretary Mr. Zakir Ahmed Khan and FBCCI Director Mr. M. A. Rouf Chowdhury are also seen in the picture.

FBCCI urged Government

Formulate next Revenue Budget to reduce Poverty

FBCCI and the National Board of Revenue (NBR) jointly organized the 23rd Consultative Committee meeting on 28th April 2002 at a local hotel bringing the whole budget preparation machinery of the government and representatives of all chambers and trade associations.
The next national budget will give priority to mobilisation of more internal resources and expansion of the tax-net. At the same time, it will curtail the discretionary power of the tax officials to ensure the rights of taxpayers and stop harassment by tax collectors. Finance and Planning Minister M. Saifur Rahman disclosed at the 23rd consultative committee meeting of National Board of Revenue.
Leaders of different chambers and trade associations at a pre-budget meeting urged the government to formulate the next revenue budget aiming at poverty reduction, diversification of export, continuation of privatization process, human resource development and squeezing government expenditure.
Placing proposals at the budgetary policy meeting President of FBCCI Mr. Yussuf Abdullah Harun stressed the need for improvement of law and order transparency in running state development of social and physical infrastructure and lowering production cost of local products and maintaining its quality.
Hon'ble Finance and Planning Minister Mr. M. Saifur Rahman, M.P. attended the meeting as Chief Guest while it was addressed among others, by Hon'ble State Ministers for Finance and Planing Shah Muhammad Abul Hossain and Mr. Anwarul Kabir Talukder, Mr. Zakir Ahmed Khan, Finance Secretary, Chairman of NBR Dr. Shoaib Ahmed and Director of the FBCCI Mr. M. A. Rouf Chowdhury.
The FBCCI President urged the government to take steps to overcome the challenges that would arise after 2004. For consideration in the national budget for 2002-2003 fiscal FBCCI placed 137 proposals relating to income tax. 112 on Value Added Tax (VAT), 148 proposals regarding import duty and 76 relating to supplementary duty.
Mr. Yussuf Abdullah Harun proposed to expand the tax base saying the number of taxpayers are only 12 lakh and the tax ratio in Gross Domestic Product (GDP) is Nine per cent. He stressed the need for increasing the ratio by expanding tax network and bringing dynamism in the tax collection.
He pinpointed 12 areas which either should be brought under tax network or existing rate of tax to be increased. In this regard he proposed for bringing different professional organisations like lawyers, physicians, engineers and consultants under VAT net, imposition of income tax on the income and properties of government officials, on the capital and activities of different NGOs engaged in business, collection of proper amount of tax from the foreign buying houses who are doing booming business.
He also suggested to be more active in tax collection from service sectors like restaurants, guest houses, motels, flower shops, car rentals, community center and beauty parlours and multi housing apartment buildings and shopping complexes, Luxury items like dresses, jewelry, precious stones should be brought under tax net, he said adding that tax should be increased on bowling alleys, recreation parks, satellite cables and taking VAT at the retailing level. He said creation of opportunity in ICT related services in telecom sector would increase the revenue three to four folds in five year and urged the finance minister to take steps in this regard.
The FBCCI President Mr. Yussuf Abdullah Harun requested the finance minister to keep some special facilities in the budget for few sectors such as light engineering, consumer electronics, leather goods, Jewellery, ICT, agro-processing, poultry, fishing and dairy, gas based industries and textile.
Regarding VAT the FBCCI president demanded 100 per cent rebate on the input of utility bills like insurance premium, telephone, electricity. Any problems on the collection of VAT would be resolved by VAT fixation committee, fixing of the limit of turnover of cottage industry at 50 lakh, extension of the filing of VAT return on quarterly basis and completion of VAT registration within three days.
Mr. Harun proposed to continue Tax holiday system, bringing transparency in income tax refund and removing the time frame for refund, collection of fees of the registration of land that lies uncollected.
Pointing to smuggling the FBCCI president said smuggling has been causing haemorrhage to the country's economy. He said goods worth Taka 9000 crore from Myanmar are smuggled into Bangladesh annually.
Addressing the meeting, Saifur Rahman emphasized expansion of taxnet including the value added tax (VAT), the minister said many people always try to dodge tax with the help of a section of tax officials. This is eating up huge tax revenue every year, he lamented, but added that strict measures would be taken to check such malpractice. The minister also said the tax administration would also be streamlined to accelerate tax collection and make the tax administration friendly to the taxpayers.

Mr. Yussuf Abdullah Harun, President of the FBCCI and Mr. Shaikh Abdullah bin Salem bin Amor Al Rawas President of OCCI are seen signing a MOU on 30th April 2002 at FBCCI Conference Centre. Major (Retd) Kamrul Islam M.P. Hon'ble State Minister for Expatriates Welfare and Overseas Employment, Mr. Anwar Ali Sultan and Mr. Ali bin Abdullah Al Badi, businessmen of Oman are also seen in the picture.

FBCCI, Oman Chamber Sign MOU

The FBCCI and Oman Chamber of Commerce and Industry (OCCI) signed a Memorandum of Understanding (MOU) to foster a spirit of better cooperation and coordination between business communities of both countries. FBCCI president Mr. Yussuf Abdullah Harun and the visiting OCCI President Shaikh Abdullah bin Salem bin Amor Al Rawas signed the MOU on behalf of their respective chambers on 30th April 2002 at FBCCI Conference Centre.
Hon'ble State Minister for Expatriates Welfare and Overseas Employment Major (Retd) Kamrul Islam and Bangladesh Ambassador to Oman Major General Amin Ahmed Chowdhury addressed a discussion meeting on 30th April 2002 at FBCCI auditorium preceding the signing ceremony of the MOU.
Participating in the discussion the Hon'ble State Minister said that Bangladesh was now putting in all out efforts to train and develop its human resources to send them in the international market where they could compete with international standard.
The FBCCI president, Mr. Yussuf Abdullah Harun said the FBCCI would open a separate desk on Oman to promote trade with this Middle Eastern country. He hoped that OCCI would also open a desk on Bangladesh to promote trade and commerce with Bangladesh in Oman.
The Oman Chamber president assured of all possible cooperation from the business leaders in Oman. He said the signing of the MOU would certainly pave the way for strengthening the bilateral trade in the private sectors of the two countries.
Mr. Amin Ahmed Chowdhury apprised the meeting of the present socio-economic condition and viewed there were ample scope for expanding trade and commerce between the two countries, which had a long history of bondage.

Hon'ble Commerce Minister Mr. Amir Khosru Mahmud Chowdhury, M.P. as Chief Guest addressing a discussion meeting on "Prevailing Situation and Future Prospect of Light Engineering Industry" on 8th May 2002. Commerce Secretary Mr. Suhel Ahmed Chaudhury, Additional Secretary for Industries Mr. Jamal Uddin Ahmed, FBCCI President Mr. Yussuf Abdullah Harun, Vice Chairman of EPB Mr. Abu Saleh, Chairman of BSCIC, Mr. M.A. Mannan and MD of BASIC Bank Mr. Md. Nurul Huda are also seen in the picture

Light Engineering Industry to get Government Support

Hon'ble Commerce Minister Mr. Amir Khosru Mahmud Chowdhury, M.P. Chief Guest while addressing a discussion meeting on "Prevailing Situation and Future Prospect of Light Engineering Industry" organized by FBCCI on 8th May 2002 at a local Community Centre assured all government support for promoting light engineering industry to make it an engine of the country's economic growth. Financial, technical and marketing assistance should not be a problem he told a meeting as FBCCI President Mr. Yussuf Abdullah Harun termed light engineering as the backbone of industrialization.
Mr. Amir Khosru called upon the spare parts manufacturers of Dholaikhal to produce very specific items gaining excellence for supplying those to the big industries world wide to produce complete units of various products cars, refrigerators or whatever. You may select only 20-50 parts out of, for example, 1400 parts, required to manufacture a car," he advised them as industrially developed nations collect different parts of their end products from different sources.
Pointing out that developed countries are now relocating their sunset industries the Minister said. "It should be a sunrise for us." He called upon the small entrepreneurs to seize the chance. He said a new production promotion council would be formed in the Export Promotion Bureau (EPB) where light engineering would be listed as one of the important industries. "Donors also are interested to support the sector," the Minister said.
The Commerce Minister said the import substitute products should first be marketed locally to process for export and then sent to international market.
Referring to the cash incentives for bicycle export, the Minister said around one lakh bicycles were exported from Bangladesh last year that would reach 4-5 lakh next year due to the perks.
Stressing attainment of excellence in production, FBCCI President Mr. Yussuf Abdullah Harun said the producers could successfully substitute import of few products, but now should go for export to achieve product excellence. He recommended loans for the entrepreneurs on the basis of skill instead of collateral, involving their association and the FBCCI to identify the right ones to promote.
Commerce Secretary Mr. Suhel Ahmed Chaudhury and EPB Vice-Chairman Mr. Abu Saleh also addressed the function with Light Engineering Association President Mr. Abdul Hashem in the chair.
On the occasion, Bangladesh Engineering Industry Owners Association organised an exhibition to display their products in 35stalls, ranging from spare parts for agri-machinery to railway wagon and engines.

FBCCI President Mr. Yussuf Abdullah Harun is addressing a Round Table Conference on "Draft Information Technology (Electronic Transaction) Act" organized by FBCCI at FBCCI Conference Centre on 14th May 2002. President of MCCI Mr. Tapan Chowdhury, FBCCI Vice-President Mr. Mohammad Ali, Enterprise Development Officer of USAID, Bangladesh Mr. Allen Fleming and FBCCI Director Mr. Md. Akhtaruzzaman Manju are also seen among others.

Aspects of proposed IT law highlighted

Experts at a discussion meeting termed the proposed Information Technology (Electronic Transactions) Act as an excellent legal document and expressed the hope that it would go a long way in flourishing of the country's ICT industry. They were discussing different aspects of the proposed act at a Round Table Conference on "Draft Information Technology (Electronic Transaction) Act" presided over by Mr. Yussuf Abdullah Harun, President, FBCCI on 14th May 2002 at FBCCI Conference Centre. IT experts, bankers, lawyers, trade leaders and donor representatives took part in the dicussion.
The Bangladesh Law Commission prepared the draft law in February last and sent it to different trade and expert bodies for their comments and recommendations.
Deliberating on the draft act, keynote speaker Mr. Tanjibul Alam said other than a few shortcomings, it takes into account the latest situation in the IT world. "It would act as a guideline for furthering the advancement of the ICT sector in the country, and at the same time, help consolidate whatever gains we have made in the sector," he said.
The proposed law follows the recently enacted Indian IT Act, 2000, the Singapore Electronic Transactions Act, 1999 and the United Nations Commission on International Trade Law (UNICITRAL) as the guiding principles.
The working paper of the draft act mainly aims at facilitating electronic commerce transactions, electronic governance, legal recognition of the electronically maintained records, electronic filing and prevention of cyber related crimes. The proposed act also contains four schedules, listing amendments to the Penal Code 1860, the evidence Act 1872, the Bankers Books Evidence Act 1891 and the Bangladesh Bank Order 1972.
The keynote speaker said it will, for the first time, secure electronic transactions in the country and will enable parties to enter into electronic contract which is legally enforceable through the courts of law.
"With the enactment of the law, electronic records and electronic signatures would assume legal status, he said adding: "The proposed bill seeks to establish a Digital Signature Infrastructure making specific use of the Asymmetric Crypto System Technology with new authorities such as Controller of Certifying Authorities.
Mr. SM Kamal, another IT expert, said the proposed act should clearly define the term authentication since it is most vital to any legal framework on ICT sector. MCCI president Mr. Tapan Chowdhury, DCCI director Mr. Atique E Rabbani, Joint Secretary of Ministry of Post and Telecommunications Mr. M A Mobarak and Industry expert Shaikh Abdul Aziz also took part in the discussion.
Wrapping up the discussion FBCCI president Mr. Yussuf Abdullah Harun said the bill is an excellent account of the progress we have made in ICT sector.

FBCCI president Mr. Yussuf Abdullah Harun is speaking at the Meet the Press programme organised by Dhaka Reporters Unity (DRU) on 20th May 2002 at DRU Office. DRU President Mr. Shahjahan Sardar and General Secretary Mr. Motahar Hossain Masum are also seen in the picture.

Black money rules 50 per cent of country's economy : FBCCI

Mr. Yussuf Abdullah Harun, President, FBCCI speaking at a Pre-Budget talk organised by Dhaka Reporters Unity (DRU) in its Meet the Press programme on 20th May 2002 at Dhaka Reporters Unity (DRU) Office said black money dominates the country's 50 per cent economy, depriving the government of huge amount of revenue. Mr. Harun said a new wealthy class has emerged by using the black money over last few years, who are dominating markets, making business difficult for genuine businessmen. DRU President Mr. Shahjahan Sardar and General Secretary Mr. Motahar Hossain Masum also spoke on the occasion.
FBCCI President underscored the need for a drastic reform in the political arena, saying that confrontational politics was responsible for deteriorating law and order situation, hampering economic development. He said government is facing a big challenge of increasing revenue income with presence of such a large amount of black money in the country.
According to him, 25 per cent of foreign goods come through smuggling and the amount would be around 15,000 crore annually. If this criminalisation continues, it would be very difficult for genuine businessmen or industrialists to survive in the competitive markets as the cost of business is very high in our country, Mr. Harun said.
Regarding the black money, the FBCCI chief said only businessmen do not own this money the government officials also hold a large share of it. The budgetary-policy should come from grass roots level and opinion of farmers and villagers who constitute 80 per cent of our population should also get active consideration, Mr. Harun said. Appreciating the government move to discuss issues with the trade organisations before budget preparation, the FBCCI president said teachers, lawyers and other professionals should also be consulted. Even the members of parliaments do not get chance to give their opinions and place demand from their localities before placing the budget at the parliament, he commented.
The FBCCI President also demanded reduction of income tax and VAT rates but supported the suggestion to expand its network. He opposed the government's policy to withdraw tax holiday system in the country, saying that it would have a negative impact on industrial development.

Hon'ble Commerce Minister Mr. Amir Khosru Mahmud Chowdhury M.P. is addressing a seminar on Foreign Investment and Local Industries as Chief Guest organized by FBCCI on 21st May 2002 at FBCCI Conference Centre. FBCCI President Mr. Yussuf Abdullah Harun, Export Promotion Bureau (EPB) Director Kazi Hamid Uddin, FBCCI Vice-President Mr. Mohammad Ali and FBCCI director Mr. Nagibul Islam Dipu are also seen in the picture.

Call to bring FDI in stronger sector for industrialization

Mr. Amir Khosru Mahmud Chowdhury Hon'ble Commerce Minister was addressing a Seminar on Foreign Investment and Local Industries as Chief Guest organized by FBCCI on 21st May 2002 at FBCCI Conference Centre.
The Commerce Minister underlined the need for channeling of resources available in the shrinking global economic investment opportunities to the meaningful efforts of industrialization. Mr. Khosru identified agriculture sector as the strength of the country's economy and said that steps had to be taken to channeling required funds, both local investment and FDI, in the sector to boost up its activities.
The Commerce Minister also said information technology (IT) sector would become strong sector because it is already a buzzword of the country. He placed emphasis on infrastructure development conducive to the advancement of IT sector.
He, however, said protectionism to any sector gave a wrong signal in the present day global economy. We have to keep our door of economic sector widely open and bring in FDI in the stronger sectors of the country for smooth and meaningful industrialization, he added.
Export Promotion Bureau Director Kazi Hamid Uddin presented the keynote paper at the seminar. He suggested that no foreign investment should be encouraged in areas where adequate domestic enterprises exist or where intended foreign investment will create an uneven competition for local manufacturers.
The function was also addressed by FBCCI President Mr. Yussuf Abdullah Harun. The FBCCI Chief underlined the need for remaining selective in taking decision about the types of FDI the country should pursue.

FBCCI President Mr. Yussuf Abdullah Harun is presenting a crest of FBCCI to Dr. Amadou Boubacar, CISSE, Vice-President, Operations of IDB at the discussion meeting held between FBCCI and the IDB Delegation on 1st June 2002.

IDB keen to Finance Private Sector Entrepreneurs

Islamic Development Bank (IDB) has shown interest to finance Bangladesh private sector entrepreneurs, especially those involved in setting up small and medium enterprises (SMEs). Industrial sector, especially agro-industrial and infrastructure projects are the areas where IDB is willing to lend money, Dr. Amadou Boubacar, CISSE, Vice-President, Operation of IDB said while speaking at a discussion meeting organized by FBCCI as Chief Guest on 1st June 2002 at FBCCI Board Room.
FBCCI President Mr. Yussuf Abdullah Harun chaired the meeting. Bankers and private sector entrepreneurs attended the meeting. The IDB delegation also includes IDB Director Dr. Tareq Yussuf ElReady, Mohammad Reza Yousof Khan and Ahmed Samour. Additional Secretary of Economic Relations Division (ERD) Sayef Uddin also spoke at the discussion meeting.
Dr. Amadou Boubacar, who was also former Prime Minister of Niger, said that the purposes of their visit are to know the general trend of Bangladesh economy and to look into various ways of cooperation between IDB and private sector of Bangladesh.
IDB Director Dr. Tarek Yussuf ElReedy made an elaborate presentation about the utilization of bank's line of finance and said IDB approves lines of Financing to National Development Finances (NDFI)/Islami Banks for lending to private or public sector entrepreneurs for establishing SMEs.
In his opening remarks, FBCCI President Mr. Yussuf Abdullah Harun made a presentation on the overall scenario of Bangladesh and urged the IDB delegation to build a direct link with private sector for the best investment of their money in Bangladesh.
Presenting a picture of the country's investment situation, he said gas sector is attracting huge foreign investment. Readymade garments, tea, ceramic and pharmaceutical are the major sectors in Bangladesh, he added. Describing the agriculture and IT sectors as a tremendous potential sector, the FBCCI President said these two sectors could be the profitable area of investment for all.

Photograph shows the Delegates to the 64th Council Meeting of CACCI during 4-6 June 2002 in front of Chinggis Khan Hotel, Ulaanbaatar, Mongolia. Among others Mr. Soo Young Lee, President, CACCI, Amb. Jeffrey L.S. Koo, Honorary President of CACCI, Mr. Sambuu Demberel, Chairman of Mongolian National Chamber, Prof. Masuda M. Rashid Chowdhury, Director, FBCCI and Mr. Mizanur Rahman Mukul, Deputy Secretary, FBCCI are also seen.

FBCCI team attended CACCI Council Meet at Ulaanbaatar Trade, Investment Issues Dominated Discussions

The Confederation of Asia-Pacific Chamber of Commerce and Industry (CACCI), an organisation of the regions leading businessmen, convened its 64th council meeting on 4 and 5 June at the Chinggis Khan Hotel in Ulaanbaatar, Mongolia.
Established in 1966, CACCI is composed of leading Chambers from 22 Asia pacific countries and represents the interest of more than 3.0 million business enterprises in the region.
The CACCI council, which is the organisation's governing body, discussed not only internal policy matters and reviewed the status of its various projects and programmes but also took up current trade and investment issues which are deemed to be of great concern to the regions business sector, Discussion at this years meeting in Ulaanbaatar focused on corporate governance.
Representatives from the national chamber of commerce and industry of Australia, Brunei Darussalam, Bangladesh, Cambodia, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Mongolia, Nepal, New Zealand, Papua New Guinea, Pakistan, the Philippines, Russia, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam attended the meeting.
Prof Masuda M. Rashid Chowdhury, Director, FBCCI and Mr. Mizanur Rahman Mukul, Deputy Secretary of FBCCI joined the meeting. The gathering was inaugurated by Nambariin Enkhbayar, Prime Minister of Mongolia and was hosted by the Mongolian National Chamber of Commerce and Industry (MNCCI).
The interests of CACCI are being organised by FBCCI in this country. The FBCCI-CACCI Affairs Committee in FBCCI has initiated the establishment of a Business Assistance Centre for the promotion of CACCI activities in Bangladesh and to encourage and assist the business community to participate in CACCI organised programmes including the intra regional trade among CACCI members, which is one of the main objectives of CACCI.

FBCCI President Mr. Yussuf Abdullah Harun is addressing a press conference on the proposed national budget for 2002-2003 on 8th June 2002 at FBCCI Board Room. Mr. Md. Nazibar Rahman, Mr. Nagibul Islam Dipu, Mr. Enayet Hossain Chowdhury, Mr. M. Lutfur Rahman Khan and Mr. Abul Kashem Ahmed, Directors of FBCCI are also seen in the picture.

Budget to help attain Self-Reliance: FBCCI

FBCCI hailed the proposed national budget for 2002-2003 saying that it would help boost domestic revenue earnings and bring dynamism to the country's economy. This budget would subsequently help the nation attain self-reliance, said FBCCI President Mr. Yussuf Abdullah Harun while addressing a press conference at FBCCI Board Room on 8th June 2002. He, however, said, "We would have to proceed by swallowing bitter pills to attain progress.
The FBCCI President called for constituting a committee at the national level, comprising the government officials, economists and representatives of the business community, to tackle the challenges after the year 2005.
Regarding the realization of VAT he suggested to pursue the recommendations given by the trade bodies during their discussion with the National Board of Revenue (NBR). In this regard, Mr. Harun also urged the government to address the wastage and system loss in the state-owned enterprises, including power and gas sectors.
Referring to the Public Expenditure Review Commission, formed by the Government for mid-term review of the budget, the FBCCI President felt the necessity of private sector's representation in the Commission to achieve the revenue earning target. He also called for quarterly review of the revenue incomes and expenditures for every three consecutive months, involving the private sector.
Hailing the Finance Minister for his proposal to withdraw supplementary duty on a total of 120 items, mostly industrial raw materials, Mr. Harun said the step would help boost the industrial productivity. However, he cautioned about the issuance of SROs, which hit the industries seriously, "We hope that we won't see such SROs in future, he said.
The FBCCI President said the proposed budget shows that the government would borrow Tk. 1,358 crore from the banking sector. "If the revenues are not collected properly, government's bank borrowing will increase further, putting a serious pressure on the macro-economy," he said.
Mr. Harun also noted that the law and order was the major pre-condition to flourish the economy. "If the law and order deteriorated, businessmen and shop owners become the first victims of it," he said.
The FBCCI Chief however, called upon the Finance Minister to review his proposal for imposing excessive customs duty on import of soyabean and palm oil. He also expressed his satisfaction over the allocations proposed for the education, health and other social sectors in the budget.

Hon'ble Minister for Shipping Lt. Col. Akbar Hossain (Retd) M.P. Bir Pratik is addressing a seminar on "Problems of Ports and Shipping in Matters Relating to Export" organized by FBCCI on 19th June 2002 at FBCCI Conference Centre. FBCCI President Mr. Yussuf Abdullah Harun, Vice-President Mr. Mohammad Ali, Shipping Secretary Mr. Golam Rahman, Mr. Rafi Omar, Keynote speaker of the Seminar, Mr. Enayet Hossain Chowdhury and Alhaj Afzal Hossain, Ddirectors, FBCCI are also seen in the picture.

Full Autonomy to Chittagong Port Authority suggested

Speakers at a Seminar on "Problems of Ports and Shipping in matters relating to Export" suggested that the Chittagong Port Authority (CPA) be made fully autonomous and decentralized to empower it to take decisions independently and promptly in the interest of smooth export and import trade through the port.
"For any decision at present, the CPA has to refer each file to the Ministry of Shipping, and this consumes a huge amount of time as well as money," said the speakers adding that autonomy to the CPA would make it effective both operationally and financially enabling the authority to take quick decisions.
Hon'ble Shipping Minister Lt. Col. Akbar Hossain (Retd) M.P. Bir Pratik addressed the seminar organised by FBCCI Standing Committee on Export as chief guest on 19th June 2002 at FBCCI Conference Centre.
Chaired by FBCCI President Mr. Yussuf Abdullah Harun the function was also addressed, among others, by Mr. Mohammad Ali, Vice President of FBCCI and Mr. Golam Rahman, Shipping Secretary. Mr. Rafi Omar, Managing Director of Kuehne & Nagel Ltd., presented the keynote paper at the seminar.
The speakers said that because of the absence of shore cranes and as well as the current inefficiency within the CPA an average container vessel needed to wait 3-5 days to obtain a berth and an additional 3-4 days to unload and load. No port in the world required this much time for berthing and loading-unloading of vessels. "with the fixed operating costs of 6500 US dollars daily and high port charges, the cost to the operator here is far higher than that in any other regional port," said the speakers. They said that due to the berthing of an increased number of feeder vessels, more import laden containers were being stored in the port container yard and that delivery had slowed down creating a shortage of space in the yard. This problem could be resolved if the importers were made to clear their consignments expeditiously, they suggested.
The speakers alleged that the process of clearing shutout cargo from the port area was too lengthy, cumbersome and expensive. They stressed on simplifying the process, making, it cheaper and faster at the same time.
Expressing concern over union activities at Chittagong Port, the speakers said that under the banners of different political parties, the unions are now out of control and getting in the way of smooth port functioning. In this regard the speakers suggested abolishment of the Dock Worker Management Board, which they said had failed to control labour unrest.
The Shipping Minister in his speech said that plans were underway to develop and modernise the Chittagong Port. There would be three portions in the port private site, joint venture site and public site, to cope with the growing pressure of trade traffic, he said. On the union disturbances, the Minister said that he was considering taking stern action in this regard. "Union activities can be streamlined in two weeks, if the business communities and opposition political parties extend their help." he said.
To review the port charges, the Minister proposed the formation of a Joint Committee with representatives from the government on one side and businessmen on the other. The Committee could prepare an action plan with a view to resolve various problems of the port, he said.

Commerce Secretary Mr. Suhel Ahmed Chaudhury inaugurating the FBCCI Sub-Regional Business Facilitation Cell following a meeting on 20th June 2002 at FBCCI office. Mr. Yussuf Abdullah Harun, President, FBCCI, Mr. Sudipta Mundle, Principal Economist of ADB, India and Prof. Masuda M. Rashid Chowdhury and Mr. M.A. Rouf Chowdhary Directors of FBCCI are also seen among others.

SASEC Advisor suggests ways to foster trade among members

India should offer duty free access to Bangladeshi goods while Bangladesh should make similar offers to Nepal and Bhutan in order to facilitate trade and investment in the four countries under South Asia Sub-Regional Economic Cooperation (SASEC), said Mr. Nazeeb Arif, advisor of SASEC Programme of Asia Business Forum (SABF) on 20th June 2002. He also identified Bangladesh's offer of transit right to India as another key factor that would expedite trade and investment in the sub-region.
Mr. Nazeeb Arif said that this sub-region, comprising Bangladesh, India, Nepal and Bhutan is a large but fragmented market due to tariff and non-tariff barriers.
In the presentation, the SASEC advisor said the political rhetoric has also been affecting economic opportunities of the sub-region. He identified absence of exploitation of immense resources in the region as well the low volume of inter-regional trade standing in the way to proper utilization of the potential of this sub-region.
The meeting was organized by FBCCI and presided over by Commerce Secretary Mr. Suhel Ahmed Choudhury on 20th June 2002 at FBCCI Board Room. ADB Country Director Mr. Toru Shibuichi, FBCCI president Mr. Yussuf Abdullah Harun and Principal Economist of ADB, India Mr. Sudipta Mundle also attended the meeting.
Mr. Sudipta Mundle said that the imbalance of the size of the four countries is one of the major challenges to use the enormous potentials of this region. He also observed that economic relations in this sub-region are driven by short sighted self interest.
FBCCI president Mr. Yussuf Abdullah Harun said that India has pursued restrictive trade policy relation with Bangladesh with several trade barriers. The existence of non-tariff and para-tariff barriers in the form of countervailing duties, surcharges, central and provincial sales taxes, luxury duties, certification and quality approval requirements would not be conducive to creating conditions for putting in place sub-regional economic cooperation, he said.
The FBCCI president thanked the ADB for setting up SABF Sub Regional Business Facilitation Cell at the FBCCI. Later, Commerce Secretary Mr. Suhel Ahmed Choudhury formally inaugurated the Business Facilitation Cell at the FBCCI Bhaban.

Hon'ble State Minister for Power, Energy and Mineral Resources Mr. Iqbal Hasan Mahmood, M.P. speaking as chief guest at the meeting on 'Country's Present Situation of Electricity" on 23rd June 2002. Mr. S.M. Shamsul Alam, Secretary (Incharge) of Power Division, FBCCI President Mr. Yussuf Abdullah Harun, Engr. Syed Abdul Mayeed, Chairman of Bangladesh Power Development Board, Brigadier General Mr. Abdur Rab, Chairman of DESA, Mr. Ziaul Islam Chowdhury, Chairman of Rural Electrification Board and Mr. Mohammad Ali, Vice-President, FBCCI are also seen in the picture.

Regulatory body for power sector Planned

Hon'ble State Minister for Power, Energy and Mineral Resources Mr. Iqbal Hasan Mahmood, M.P. said that his Ministry would soon form a Power Regulatory Committee with the representatives from the government and the FBCCI to monitor power situation in the country and suggest ways in order to solve the problems in the sector. The power sector is entangled with system loss and other problems. The Regulatory Committee can trace those problems so that the concerned authorities can take decisions in right directions," said the Hon'ble State Minister while addressing the meeting on "Courtry's Present Situation of Electricity" organized by FBCCI on 23rd June 2002 at FBCCI Conference Centre.
Mr. Yussuf Abdullah Harun Presided over the meeting. Among others, Mr. S. M. Shamsul Alam, Acting Secretary for Power, Engr Syed Abdul Mayeed, Chairman of Power Development Board (PDB), Brig Gen Abdur Rob, Chairman of Dhaka Electric Supply Authority (DESA) and Mr. Ziaul Islam Chowdhury, Chairman of Rural Electrification Board (REB) were present in the meeting. The meeting was also participated by high govt. officials and business leaders, discussed various aspects of possible reforms in the power sector aiming at uninterrupted and reliable electricity supply. FBCCI President
The State Minister noted that problems in power sector were not created in one day. "Production cost of electricity is very high in the 18 power stations in the country and it is supplied to the people in subsidised price. Not only its generation, costs of maintenance, transmission and distribution also are high. Hence the government is thinking to encourage private investment in power sector in production as well as distribution," he maintained.
Referring to the prepaid metre system introduced in Chittagong, the State Minister said that this kind of projects will be undertaken in other metropolitan areas. He said that sale or distribution of electricity will be given to private dealers who will control the supply installing mother metres in different localities of the city. The dealers will be given 2 per cent discount. The measure can lessen rampant stealing of electricity reducing pressure on PDB, DESA and REB, he hoped. The State Minister also emphasised on proper load management to reduce load shedding.

Mr. Yussuf Abdullah Harun, President of the FBCCI addressing a discussion meeting held between the leaders of FBCCI and the representatives from BGMEA, BKMEA, BTTLMEA and BTMA organized by FBCCI on 26th June 2002 at FBCCI Board Room. FBCCI Vice-President Mr. Mohammad Ali and FBCCI Director Mr. M. A. Rouf Chowdhury are also seen among others.

FBCCI will help to solve garment sector problems

FBCCI and four trade organisations of the garments sector agreed to undertake a joint move to convince the government for an immediate solution to their 7-point demand including disbursement of cash incentive arrears and allowing yarn export on land route through back-to-back LC.
Leaders of the four organizations, Bangladesh Garments Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Bangladesh Terry Towel and Linen Manufacturers and Exporters Association (BTTLMEA) and Bangladesh Textile Mills Association (BTMA) attended the meeting.
Addressing the joint meeting of the four organizations on 26th June, 2002 at FBCCI Board Room. Mr. Yussuf Abdullah Harun said coordination and consensus should be built up among exporters and importers for both protection of local industries and continuation of export.
The FBCCI President said after 2005, Bangladesh has to face a tough situation and Bangladesh should think now what will happen to textile and garment industries, which have employed several lakh male and female workers. "I have proposed formulation of a preparatory committee to map out a plan on how we will face the fast changing and competitive global market after 2005, which will put an adverse impact on our economy" said FBCCI president.
BGMEA President Kutubuddin Ahmed said knitwear manufacturers and exporters had tried in different ways to convince the government but failed. If immediate steps are not taken to solve the problems, knitwear industry would collapse leaving 75 thousand owners and workers into a state of uncertainty, he added. He said the arrears of cash incentive has stood at Taka 500 crore because of delay in payment that is gradually making knitwear industry a "sick industry".
At present, the government is neither providing cash incentive to owners of knitwear industries nor allowing them to import yarn on land route, he added. In this connection, he said import of yarn through sea-route is time consuming and not cost-effective for knitwear industry he added.
The FBCCI President asked the leaders of four organizations to adopt a give and take attitude to bring their entire issues in a common package for an amicable solution. He said the government would accept the demands if the four organizations take a joint move through consensus based on give-and-take attitude. He assured them that as a president of the apex body of the country's business community he would take all-out efforts for a solution of their problems.

Hon'ble SAARC Secretary General Mr. Q.A.M.A. Rahim is addressing a discussion on "WTO and the Challenge for South Asia" organized by FBCCI at FBCCI Board Room on 29th June 2002. Mr. Yussuf Abdullah Harun, President, FBCCI, Mr. Mohammad Ali, Vice-President, FBCCI and Prof. Masuda M. Rashid Chowdhury are also seen in the picture.

SAARC nations must work unitedly to realise claims from WTO: SAARC Secretary General

The Hon'ble SAARC Secretary General Mr. QAMA Rahim said that the countries in the region have to work unitedly to realize their legitimate claims and withstand any divergence under WTO regime.
"Remember what we do in SAARC (South Asian Association for Regional Cooperation) is going to affect our position in WTO as we are bound together in the present state of globalisation" Mr. Rahim told a discussion on "WTO and the Challenge for South Asia" organized by the FBCCI on 29th June 2002 at FBCCI Board Room.
He underlined the need for increasing our capability to negotiate effectively under WTO regime. "The extreme tragedy, however, is that most of us do not as yet fully understand the implications of the WTO agreements. The further tragedy is that when we do understand them, we find the obligations impose an onerous burden on our economies and that it is extremely difficult for us to face up to these obligations without accepting massive adjustment costs." the SAARC secretary general told the business leaders. He urged them to arrange public debates to take stock of what WTO is.
The SAARC Secretary General said the business community assumes importance because following the government negotiations with the WTO it would be the business community that would ultimately come to the picture. "A close dialogue between government negotiators and the business community is vital if we are to protect our interests in the core areas.
"While listing some of the difficulties in the WTO regime, Mr. Rahim said the countries in the region lacked sufficient knowledge and understanding of WTO issues and they do not consult one another. Even domestically, the stake-holders are only consulted in a peripheral manner.
He said it is critical, therefore, that a broad-based dialogue is not delayed any further and that the debate is as wide and as publicized as possible so that we could inform the richer countries that our position reflects the concerns of over 1.3 billion people as a whole and not only of the governments.
FBCCI president Mr. Yussuf Abdullah Harun presided over the discussion.

Mr. Yussuf Abdullah Harun, President of the FBCCI presenting a crest of FBCCI to Mr. Scott A. Barber, Managing Director of the UNOCAL at the discussion meeting on "Gas Sector Development in Bangladesh" on 3rd July, 2002 at FBCCI Conference Centre. Mr. Reinier R. Reddingius, Managing Director of Shell Bangladesh and Mr. Mohammad Ali, Vice-President, FBCCI are also seen in the picture.

International Oil Companies stress the need to export gas

Speaking Discussion Meeting on "Gas Sector Development in Bangladesh" organized by FBCCI on 3rd July, 2002 at FBCCI Conference Centre Mr. Scott A. Barber, Managing Director of the UNOCAL stressed the need to export natural gas to India through pipeline Key-Note Speaker. Mr. Reinier R. Reddingius, Managing Director of Shell Bangladesh and Mr. Mohammad Ali, Vice-President, FBCCI are also seen in the picture.
Mr. Scott. A Barber explaining its Natural Gas Pipeline Project submitted to the government express desire to export 500 million cubic feet of gas a day to India for the next 20 years.
International Oil Companies (IOCs) were unwilling to further explore gas here because they were not sure about returns on their investment, Mr. Barber said, stating that his company had already invested around US$ 350 million. If there was no market of commodities, nobody would come to invest for exploration, and if there was no exploration, there would be a future shortage in gas supply, he said, giving a chain effect of 'saturated' local market having a daily consumption of 1100 MCF.
Responding to a suggestion from the audience for looking for expansion of local use of gas, Barber urged the members of the FBCCI to start industries and produce value-added products using gas.
FBCCI President Mr. Yussuf Abdullah Harun, who moderated the discussion, said there would be a series of such talks after two expert committees submit their final studies to the government on 7th July of this year. FBCCI Director Mr. M. A. Rouf Chowdhury, Managing Director of Shell Bangladesh Mr. Reinier R. Reddingius and UNOCOL Chief Geologist Mr. A. H. M. Shamsuddin also spoke on the occasion. Some of the Participants pointed out that the national requirement of gas should be considered before considering any other issue of development about gas import.

Steps to be taken to run public sector Jute Mills efficiently : Prime Minister

Hon'ble Prime Minister Begum Khaleda Zia said that her government would take steps to run the public sector jute mills through efficient management to turn them profitably. She said this while exchanging views with Executive Committee Members of the FBCCI headed by its President Mr. Yussuf Abdullah Harun when they submitted a memorandum to her at her office on 4th July 2002 profusely hailing the bold decision of her government for closing the loss-making Adamjee Jute Mills.
The FBCCI leaders in their memorandum gave some suggestions for setting up Information Technology industries, textile industries, electronics and garment industries or develop Export Processing Zone (EPZ) in the vacant land of the Adamjee Jute Mills. They said the unused raw jute, jute goods, machinery, spares and equipment of the Adamjee Jute mills should be either transferred to other public sector mills or disposed of through the Privatisation Commission.
Exchanging views with the leaders of trade body, the Prime Minister said her government would go for disposal of state-owned enterprises (SOEs) through open tenders if those could not be made profitable.
Talking about future plan for utilization of assets of Adamjee Jute Mills, she said a decision in this connection would be taken after discussions with all concerned. In this regard, she thankfully recalled the support her government has received for banning polythene.
Seeking cooperation of the trade bodies in its efforts to make the country self-reliant in the context of present global scenario, she said "We want to become self-reliant without depending on others and the budget has been prepared accordingly. Thanking the chamber leaders as well as workers of the Adamjee jute mills, she said the mill has been suffering losses since its nationalization due to irregularities and inefficient management over the years. She said many had become beneficiaries causing loss to the state-owned enterprise.
In this regard, she said her government had already taken steps so that the workers of Adamjee Jute Mills could get their dues settled safely and their children could continue their studies without any disruption.
FBCCI President Mr. Yussuf Abdullah Harun said that necessary steps should also be taken for the private-sector jute mills so that they can contribute to recouping the annual export loss of around Tk. 200 crore that Adamjee used to earn. The FBCCI delegation suggested relocation of machinery, equipment and other movable assets of Adamjee to 29 remaining state-owned jute mills.

Mr. Yussuf Abdullah Harun, President of the FBCCI is presenting a crest of FBCCI to Hon'ble Prime Minister of Thailand H.E. Mr. Thaksin Shinawatra at a dinner hosted by FBCCI on 8th July 2002 at a city hotel.

Thai PM stresses Joint Business Council

Mr. Thaksin Shinawatra the Hon'ble Prime Minister of Thailand stressed the need for establishing a Joint Business Council to serve as a mechanism for stimulating greater business atmosphere between two governments and the private sectors.
"Thai firms are interested in forming joint ventures with Bangladesh, because we believe that Bangladesh is an important partner for us in South Asia," he said at a dinner hosted in his houour by FBCCI at a City Hotel on 8th July, 2002.
The Thai Prime Minister looking forward to work closely with Bangladesh to strengthen the existing trade and investment relations expressed his firm belief that a joint business council could play a major role by acting as a focal point for facilitating trade and investment between the two friendly countries.
Earlier, FBCCI President Mr. Yussuf Abdullah Harun welcoming the guests expressed his firm belief that the visit of Thai Prime Minister would open a new horizon in the current relations between the two countries. "Bangladesh is the gateway between ASEAN and SAARC and there is a tremendous scope for widening economic cooperation based on our comparative advantages, leading to a greater share of the global trade," he said.
Those present on the occasion were Hon'ble Minister for Local Government, Rural Development and Co-operatives, Mr. Abdul Mannan Bhuiyan, Hon'ble Foreign Minister Mr. M. Morshed Khan, Hon'ble Minister for Health and Family Welfare Dr. Khandaker Mosharraf Hossain, Hon'ble Minister for Communications Barrister Nazmul Huda, Industries Minister Mr. M.K. Anwar and Hon'ble Commerce Minister Mr. Amir Khosru Mahmud Chowdhury. The Hon'ble Thai Foreign Minister Mr. Surakiat Sathirathai, Hon'ble Commerce Minister Mr. Adisai Bodharamik and other members of the Thai Prime Minister's entourage were also present.

Mr. Yussuf Abdullah Harun, President of FBCCI and Mr. Ajva Taulananda, Chairman, Board of Trade of Thailand (BTT) are seen exchanging Memorandum of Understanding for establishment of Joint Business Council (JBC) between FBCCI and BTT on 9th July, 2002 at FBCCI Board Room. Among others Mr. Mohammad Ali, Vice-President of FBCCI, Mr. Satish Sehgal, President of India-Thai Chamber of Commerce and Mr. Faiz Ahmed, Joint Secretary, FBCCI are also seen in the picture.

Dhaka-Bangkok Joint Business Council to be set up

The President of the FBCCI Mr. Yussuf Abdullah Harun and the Chairman of Board of Trade of Thailand Mr. Ajva Taulananda signed a Memorandum of Understanding (MOU) at the FBCCI Board Room on 9th July, 2002 for establishing a Joint Business Council to promote closer business activities between the two countries. The signing took place on the occasion of Hon'ble Thai Prime Minister Mr. Thaksin Shinawatra's three-day official visit to Bangladesh. Directors of the FBCCI, chamber leaders and a 12-member Thai business delegation were present on the occasion.
After signing the deal both the sides expressed the hope that the joint business council will provide the forum for discussion and orderly promotion of trade, investment, transfer of technology, services and exchange of information.
Bangladesh Chamber leaders said Technology transfer, collaboration in agro-based industries, like fisheries and poultry, handicrafts, food processing, and introduction of cargo freight are some of the issues which could be looked into on a priority basis.
They said Thailand can set up industries here and take the opportunity of re-exporting to European Union and other destinations where Bangladesh is enjoying duty free and concessional entry for its products.
The Thai side hoped that they will take advantage of the opportunities for which consultations will continue. They said the Thai government will do everything to resolve the cargo lifting problems by air from both sides on priority basis.
Mr. Yussuf Abdullah Harun referred to the current trade position between Bangladesh and Thailand saying it increased both ways roughly at an annual compounded rate of about 25 per cent over the last 10 years. "But this has resulted in exacerbating the deficit for Bangladesh to the present level of US$ 170 million" he said, adding Thai investment here has been stagnating at around US $ 35 million only.

Hon'ble State Minister for Power Mr. Iqbal Hasan Mahmood M.P. addressing a seminar on "Power Sector Reforms in Bangladesh" as the Chief Guest on 29th July, 2002 at FBCCI Conference Centre. FBCCI President Mr. Yussuf Abdullah Harun, Vice-President, Mr. Mohammad Ali and ADB Country Director Mr. Toru Shibuichi are also seen in the picture.

FBCCI team attended business summit in India

A 16-member delegation led by FBCCI President Mr. Yussuf Abdullah Harun of FBCCI attended the two day Northeast Business Summit in Mumbai, India Jointly organized by Indian Chamber of Commerce, Kolkata and Department of Development of Northeastern Region held on July 19-20, 2002. The two day summit, aimed to increase investment and boost economic growth in the northeast Asian region.
FBCCI Directors Mr. M.A. Rouf Chowdhury, Mr. Md. Hizkil Gulzar and Alhaj Md. Kalim Ullah, BAPA President, Maj. Gen. Amjad Khan Chowdhury, President of Agri Business Development Organization of Bangladesh Mr. AFM Fakhrul Islam Munshi, President of Bangladesh Handicraft Manufacturers and Exporters Association Mr. SU Haider, Managing Director of Sarkar and Company Mr. Mohammad Ali Sarkar, Chairman of Bangladesh Shop Owners' Association Mr. Amir Hossain Khan, Chairman of Remex Corporation Ltd Mr. M.R.A. Taha and president of Bangladesh Railway Spares and Accessories Suppliers' Association Mirza A Syead joined the Seminar.
On the sidelines of the summit, the Bangladesh delegation met the Chief Ministers of eight Indian states and discussed the prospects of raising the export volume of Bangladeshi goods to India.

Power Sector Reforms stressed

The Asian Development Bank (ADB) Chief in Bangladesh underscored the need for improved law and order, smooth operation of Chittagong port and sound power sector reforms to ensure sustainable development of the country.
"Separation of the executive from the judiciary and reforms in the financial and power sectors of the country are also among the several issues that are needed to be addressed not only to make its development endeavours guaranteed but also to get more assistance from the development partners." ADB country Director Mr. Toru Shibuichi said at the Seminar.
Currently ADB is funding various reforms programmes in the power sector and also helping improve management of the Chittagong port.
Hon'ble State Minister Mr. Iqbal Hasan Mahmood while addressing a seminar on " Power Sector Reforms in Bangladesh " as the chief guest on on 29th July, 2002 at the FBCCI Conference Centre stated the country would be brought under the electricity network by the year 2002 under the existing master plan in the power sector. At present, the government is planning to introduce two or three model systems to improve the distribution and collection systems of electricity and the billing.
Leasing out the responsibility to collect electricity bills of different areas to the private sector and introduction of pre-paid electricity meter in Chittagong area top of government agenda, the State Minister said.
An independent energy regulatory commission to handle the activities of the power and energy sectors will be formed soon as the proposal has already been approved by the cabinet, he said. The government will also take initiative to rationalize the tariff structures in both urban and local areas, he added.
Principal Project Engineer of ADB's South Asia Infrastructure Division Mr. S. Chander expressed satisfaction over the improved situation of electricity bill collections and reduction of the system loss in last six months.
Chaired by FBCCI President Mr. Yussuf Abdullah Harun, the Seminar was addressed, among others, by Managing Director of Power Grid Company of Bangladesh (PGCB) Mr. ANM Rizwan and Managing Director of Khulna Power Company Mr. Vijay sirse.

Hon'ble Commerce Minister Mr. Amir Khosru Mahmud Chowdhury M.P. speaking at a seminar on "Globalisation and Challenges for South Asian Exporters" on 3rd August, 2002 at FBCCI Conference Centre. FBCCI President, Mr. Yussuf Abdullah Harun, Vice-President, Mr. Mohammad Ali, the key-note speaker Mr. Chandana R. Rathnasiri and FBCCI Director Mr. Enayet Hossain Chowdhuary are also seen in the picture.

Bangladesh-Pakistan Joint Business Council formed

FBCCI President Mr. Yussuf Abdullah Harun and FPCCI President Mr. Iftekhar Ali Malik signed a Memorandum of Understanding (MOU) for setting up a Joint Business Centre (JBC) at a local hotel on 30th July, 2002 to promote bilateral trade and investment through increased interactions between business people of the two countries.
The apex trade bodies of the two countries launched the council following understanding between the two governments on the occasion of Pakistan President General Parvez Musharraf's visit to Bangladesh.
It will provide a regular and recognized platform for discussions on promotion of trade, investment, technology transfer, services and other industrial sectors between businessmen and industrialists of the two countries.
JBC aimed at "fostering friendship and understanding between the business communities of Bangladesh and Pakistan" promoting these activities between the two countries.
The Bangladesh-Pakistan JBC meetings will be organized in Bangladesh and Pakistan respectively for liaison and consultation between the two business circles.
The JBC will conduct activities like exchange of information on trade, economic cooperation and services between the two countries. The two sides will also share appropriate materials necessary for securing the objectives laid down in the accord.
The two-nation business body will also exchange recommendations necessary for promoting more effective economic relations, receive businessmen and technical experts and conduct other activities useful in order to achieve the JBC purposes.

FBCCI President Mr. Yussuf Abdullah Harun addressing a Round Table Discussion on SME Development and Export Expansion-Strategic Intervention for the Finance, Industry and Trade Sectors on 6th August 2002at FBCCI Board Room. Keynote presenter and Senior Financial Economist of ADB Dr. Virgilio T. Velasco, FBCCI Vice-President Mr. Mohammad Ali and FBCCI Director Incharge of the FBCCI Standing Committee on SME Mr. Abdur Razzaque are also seen in the picture.

Commerce Minister for expansion of export basket

Hon'ble Commerce Minister Mr. Amir Khosru Mahmud Chowdhury, M.P. while speaking as chief guest at a seminar on "Globalization and Challenges for South Asian Exporters", organized by FBCCI at its auditorium on 3rd August, 2002 stressed the need for increasing country's number of exportable items side by side with creating new customers of local items.
The seminar was chaired by FBCCI President Mr. Yussuf Abdullah Harun while Mr. Chandana H. Rathnasiri, professor of the University of Sri Jayewardenepura, Sri Lanka, presented the keynote paper on the topic.
The Commerce Minister said there are only a few items in the country's export basket, which is very hard for a country to compete in the global market. He stressed maintaining the quality of those products at any cost so that the country does not lose the international market. Mr. Amir Khosru said, "We have to attain the ability to cope up with the continuous changing requirements of the global markets".
The Commerce Minister told the seminar that the WTO cell, consisting of knowledgeable persons, is working in the commerce ministry. Not only commerce ministry, other ministries are also working in this cell giving emphasis on knowledge based trade, industry and business for facing the global challenges in the coming days.
Mr. Chandana R Rathnasiri in his keynote paper said the effects of the process of globalization on trade are not uniform across the globe. He said South Asia is a region and as a region it will experience a completely different reality, which should be well understood by at least the key players of the game of international trade.
He said since the beginning of this century globalisation is the western agenda and it appears to be result of a planned course of action that is presently being manipulated by accelerating speed. the new wave of international power bargain in politics and trade is intermingled with globalisation process.
FBCCI President Mr. Yussuf Abdullah Harun said a proactive move is necessary from the South Asian exporters to emerge as highly competitive business ventures in the context of ever-increasing turbulence in the global environment due to globalisation. He mentioned four key areas of utmost importance. These are: acquiring command over knowledge intensive activities of producing a product, developing sustainable competitive advantage, developing an industry wide collaboration (cluster) to withstand global presence and manufacturing excellence through re-engineering, productivity improvement etc.
Vice-President of FBCCI Mr. Mohammad Ali, among others, also spoke on the occasion.

Mr. Anisul Huq Chowdhury, Secretary, Economic Relations Division (ERD), Ministry of Finance addressing a Workshop on "Bangladesh-A National Strategy for Economic Growth and Poverty Reduction (I-PRSP)" on 18th August, 2002at FBCCI Conference Centre. Mr. Yussuf Abdullah Harun, President, FBCCI, Dr. M.K. Mujeri, Visiting Fellow of Bangladesh Institute of Development Studies (BIDS), Mr. Binayak Sen, Senior Research Fellow, BIDS and Mr. Mohammad Ali, Vice-President, FBCCI are also seen in the picture.

FBCCI-ADB Roundtable Financial backing for SME's suggested to boost export.

FBCCI in cooperation with Asian Development Bank (ADB) organised the roundtable on "SME Development and Expansion-Strategic Intervention for the Finance, Industry and Trade Sector" at FBCCI Board Room on 6th August 2002. FBCCI President Mr. Yussuf Abdullah Harun chaired the Roundtable Discussion.
Speakers at the Roundtable Discussion stressed the need to enhance export and thereby earn substantial amount of foreign exchange by expanding the number of SMEs. They attributed the financing problem as the main impediment of the development of the SMEs and urged the trade bodies to play necessary role in this regard. Underlining the need for sustainable funding sources, the participants said a conductive and friendly atmosphere was essential for the development of SMEs. They also focussed on facilitating women entrepreneurs for SME development.
Dr. Virgilio T. Volasko, Senior Financial Economist of ADB, Manila, and others presented a draft paper of proposals on the SME Development at the roundtable discussion. The paper suggested to set up some new financial institutions and transformation of the existing ones to better serve the SME and export needs.
It proposed for setting up a women bank, a specialised bank for external trade, upgrading the existing commercial banks technical capacity, and a new commercial bank specialising in SME needs or recognising the state-owned BASIC Bank- either before or after its privatization. Besides, it suggested administrative and trade policy reforms, and improvement in the legal and security framework. About importance of the human resources development, it cited the experience of the South Asian and developing countries and said that investment in human capital might be the primary determinant of rates of economic growth high enough to reduce, even substantially eradicate poverty.
The paper put some suggestions to the business associations that included shifting in policy agenda from protecting a few to creating an enabling environment for all demanding the government to become a facilitator and to reduce its excessive regulations, improving database of members/SMEs, and strengthening institutional capacities and research, and deriving policy papers.
ADB's Senior Consultant Dr. Victor Barrios, FBCCI Vice-President Mr. Mohammad Ali, directors of FBCCI, members of the FBCCI Standing Committee on SMEs and other business leaders took part in the roundtable discussion.

Hon'ble Acting Speaker of Parliament Mr. Akhtar Hamid Siddiqui M.P. as Chief Guest addressing a Seminar on "Printing and Publication Industry in Bangladesh: Problems and Prospects" on 25th August, 2002at FBCCI Conference Centre. Hon'ble State Minister for Cultural Affairs Begum Selima Rahman, FBCCI President, Mr. Yussuf Abdullah Harun and FBCCI Director, Mr. Nagibul Islam Dipu are also seen in the picture.

Business leaders say Violence, corruption eat up economic growth

The business leaders were critical of the government's draft of poverty reduction strategy saying it is meaningless without improving law and order situation and checking wide spread corruption. They said that violence, corruption and wastage eat up the country's economic growth so far achieved. The views of the business community came on at a discussion on an interim poverty reduction strategy paper (I-PRSP) setting a target of halving the poverty level by 2015.
FBCCI in cooperation with Economic Relations Division (ERD) organized a Workshop on Bangladesh-A National Strategy for Economic Growth and Poverty Reduction (I-PRSP)" at FBCCI Conference Centre on 18th August, 2002. FBCCI President Mr. Yussuf Abdullah Harun chaired the workshop.
Economic Relations Division (ERD) Secretary Mr. Anisul Huq Chowdhury and two economists of Bangladesh Institute of Development Studies (BIDS), Dr. Binayak Sen and Dr. MK. Mujeri explained justification of the strategy paper.
The business leaders pointed out that I-PRSP has not specified priorities as to how to achieve a 7 per cent economic growth to halve the poverty rate by 2015. It also has not adequately dealt with law and order situation as well as corruption and wastage that eat up hard earned economic achievements.
FBCCI Directors Mr. M.A Rouf Chowdhury, Prof. Masuda M. Rashid Chowdhury and Mr. Abdul Haq, a former Director of FBCCI said that focussed efforts are not specified in the paper how to achieve a 7 or 8 per cent economic growth to reach the target of poverty reduction.

Printing Sector should be declared an integrated industry

Hon'ble Acting Speaker of Parliament Mr. Akhtar Hamid Siddiqui as Chief Guest attended a Seminar on "Printing and Publication Industry in Bangladesh: Problems and Prospects" organized by FBCCI on 25th August, 2002 at FBCCI Conference Centre. Hon'ble State Minister for Cultural Affairs Begum Selima Rahman was present as Special Guest. FBCCI President, Mr. Yussuf Abdullah Harun chaired the seminar. Mr. Tofail Khan, General Secretary of Bangladesh Text-Book Printers and Sellers Association, presented the keynote paper.
Speakers at the Seminar organized by FBCCI demanded the printing and publications sector should be declared as an integrated industry immediately. They also demanded formulation of a national printing and publication policy.
Mr. M.A. Rouf Chowdhury, Director of FBCCI, Mr. M. Arshad Ali, President of printing industry association, Mr. M.A. Momen, Acting President of ink-making association, Mr. Amir Hossain Khan, President of book shop owners' association and noted software engineer Mr. Mostafa Jabbar took part, among others in the discussion.
Speakers said though the printing and publications industry has been identified as one of the employment generating sectors, there has been no significant efforts to develop the sector both at the Government and the private level. Describing the prospects of the industry in Bangladesh, they demanded setting up of a well planned separate industrial area like EPZ to contribute to earning of foreign currency through exports like other industries. They urged the government to ban import of 10 to 15 year old press machineries while formulating the import policy. They also urged the Government to provide loans to develop the industry.

Dr. Abdul Moyeen Khan, M.P, Hon'ble Minister for Science, Information and Communication Technology, inaugurating the FBCCI "Young Entrepreneurship Development Cell" at FBCCI. Mr. Yussuf Abdullah Harun, President, FBCCI and Professor Masuda M. Rashid Chowdhury, Director, FBCCI are also seen in the picture.

Plea for amendment to Bangladesh Bank's provision on venture capital

Young entrepreneurs at a Seminar underscored the need for necessary amendment of the central bank provision providing venture capital to young entrepreneurs to boost national economy. The existing Bangladesh Bank (BB) regulations prohibits young entrepreneurs from taking loans without collateral or fixed assets, they added.
The Science, Information and Communication Technology Minister Mr. Abdul Moyeen Khan while addressing as the chief guest at the Seminar on "Young Entrepreneurs and Professionals of Bangladesh: Building the Future Leadership" at the FBCCI Conference Centre on 8th September 2002 underscored the need for total deregulation of the government to quicken the peace of development of country's economy. He also underscored the need for joint effort from both the government and the private sector to encourage entrepreneurship, especially for the young. "The government, with resource constraint, along can't do much for upgrading national economy where more that 50 per cent of her population live below the poverty line," the Minister added.
Syed Manzur Elahi urged the young entrepreneurs to continue their efforts with determination, honesty and professionalism to achieve success. They should perform their duties to establish goodwill in places where they work, said Mr. Manzur Elahi who is also the Chairman of Bangladesh Association of Banks.
Chairman of Square Group Mr. Samson H. Chowdhury stressed the need for cultivating patience by the young people to attain success. Leader of Junior Chamber in Bangladesh Syed Almas Kabir presented the keynote paper at the seminar.
Chaired by FBCCI President Mr. Yussuf Abdullah Harun, the function was addressed, among others, by Chairman of Nitol Group Mr. Abdul Matlub Ahmed, Managing Director of Rangs Group Mr. Romo Rouf Chowdhury and Director of FBCCI Mr. M.A. Rouf Chowdhury.
At the end of Seminar, Hon'ble Minister for Science, Information and Communication Technology, inaugurated the FBCCI "Young Entrepreneurship Development Cell" at the FBCCI Office.

Mr. Yussuf Abdullah Harun, President, FBCCI briefing the press on 9th September 2002 on SME Fair 2002 to be held on September 15-20, 2002. Vice President Mr. Mohammad Ali, Director In-charge of the FBCCI Standing Committee on SMEs Mr. Abdur Razzaque, Chairman of FBCCI Standing Committee on SMEs, Mr. Nagibul Islam Dipu, Director of FBCCI, Mr. Enayet Hossain Chowdhury, Director of FBCCI and Mr. Faruqul Islam Shova are also seen in the picture.

Products of SMEs to be showcased at SME Fair

Briefing at a Press Conference on the formal announcement of the Fair on 9th September 2002 at the Conference Centre, FBCCI President Mr. Yussuf Abdullah Harun said that the FBCCI for the first time in country's history is organising the Small and Medium Enterprises (SMEs) Fair at the Bangladesh-China Friendship Conference Centre from 15-20 September, 2002 where SME products will be showcased.
There will be some 136 stalls and 8 Pavilions at the six-day-long Fair and there will be foreign buyers from all parts of the world.
Hon'ble Prime Minister Begum Khaleda Zia will inaugurate the Fair as the Chief Guest while Hon'ble Ministers for Finance and Planning, Industries and Commerce will be present.
The FBCCI President said the SMEs are now facing tremendous competition because of the globalisation effects and unless they have better access to credit, suitable marketing design and an adequate infrastructure facility, there is no way they can consume the globalisation heat. "It is time we should realise that SMEs become the main drivers of the economic engine," he said, adding that the giant economies of Japan and Italy are fully dependent on the performance of small and medium enterprises.
Revealing that some 90 per cent of country's export come from the SMEs, Mr. Harun said international development agencies including the World Bank, the Asian Development Bank (ADB), the Department for International Development (DFID) and JOBS have come forward to help flourish the sector.
The FBCCI President further revealed that the fair would have cross-sectional representations as it will feature products from as many as 25 sectors. Computer software, IT and E-commerce will have 33 stalls followed jointly by electrical and electronics and textile and garments, each with 10 stalls.
"It is our firm belief that the fair will fetch a significant amount of export orders. The local entrepreneurs will have the chance to interact with the buyers and it would enhance the image of Bangladesh to the rest of the world," the FBCCI Chief added. He said, unlike other fairs in the country, the SME fair is a different one as it would only showcase the home-made products.
FBCCI Vice President Mr. Mohammad Ali, Director In-charge of the FBCCI Standing Committee on SMEs Mr. Abdur Razzaque, Chairman of FBCCI Standing Committee on SMEs Mr. Faruqul Islam Shova and Mr. Md. Akhtaruzzaman Manju and Mr. Enayet Hossain Chowdhury, Directors of FBCCI were also present at the conference.

Hon'ble Prime Minister Begum Khaleda Zia Opening the SMEs Fair-2002 at Bangladesh-China Friendship Conference Centre on 15th September 2002.

FBCCI Organised SME Fair

Hon'ble Prime Minister Begum Khaleda Zia inaugurated the six-day SME Fair organized by FBCCI held on 15th September 2002 at the Bangladesh-China Friendship Conference Centre. In her speech the Prime Minister announced that eighteen New BSCIC (Bangladesh Small and Cottage Industries Corporation) industrial estates would be established with full facilities and fund support to promote private investment across the country.
She said her government wants to encourage young educated entrepreneurs to set up labour incentive industries. "We place thrust on electrical, electronics and IT industries for expanding country's export basket" she said. She also called upon the entrepreneurs to initiate move for setting up more small and medium scale industries in the country. "We have to manufacture new products having potentials, exploiting the new technologies to survive the global competition", she said.
She also urged the local manufacturers to improve the quality of the products and to become more innovative. Improvement of the quality of the products not only helps sustain competition, but also enhances their acceptability in the local market, she added.
Expressing the government's strong commitment to promote small and medium enterprises through financial support, she said, "Easy and soft bank loans would also be provided to the medium enterprises side by side with the small ones."
Functions of the Bank of Small Industries and Commerce Bangladesh (BASIC), the specialised bank established to provide financial support to the SMEs, would be expanded, she said, adding: the lending activities of the state-owned banks for the SMEs would be strengthened as well. For the enhancement of the export of the SME products, she said, steps would also be taken to co-ordinate between the activities of the BSCIC and the Export Promotion Bureau.
Hon'ble Finance and Planning Minister Mr. M. Saifur Rahman, M.P., Hon'ble Industries Minister Mr. M.K. Anwar, M.P., Hon'ble Commerce Minister Mr. Amir Khosru Mahmud Chowdhury, M.P., FBCCI President Mr. Yussuf Abdullah Harun and FBCCI Vice-President Mr. Mohammad Ali also addressed the inaugural function.
A total of 146 stalls and eight pavilions were set up in the fair. Electrical wire, assembled electronic goods, melamine and ceramics items, pertex and steal furniture, sanitary fittings, apartment and housing products, light fitting, water pumps, readymade garments and textile products dominate the exhibition. A large number of computer firms and internet service providers also participated in the fair, some of them sold local software.
The first ever Small and Medium Enterprise (SME) Fair in the country drawn a huge number of visitors. The enthusiastic visitors were mostly attracted by Ready-made Garments, Plastic Goods, Jute Products, Leather Goods, Light Engineering Products, etc.

Hon'ble President H.E. Prof. Dr. Iajuddin Ahmed visiting stalls of SMEs Fair-2002 organized by the FBCCI on 20th September 2002. Mr. Abdul Mannan Bhuyan M.P., Hon’ble Minister for LGRD is also seen in the picture.

President urged to work together for country's socioeconomic uplift

Hon'ble President of Bangladesh Prof Dr. Iajuddin Ahmed attended the Closing Ceremony of the SME Fair-2002 on 20th September 2002 as Chief Guest. In his first public address the Hon'ble President urged all irrespective of party and faith to work together for the country's socio-economic uplift so that Bangladesh is not left out in the fast-moving world.
"The world is moving fast. We'll have to synchronize our pace with the speed. Otherwise we'll fall behind all. Time is running out. All have to think about it deeply, and this is the right time." he said. The Hon'ble President made some observations about the modes of investment now taking place in real estate, business and other fields than in productive sectors like agriculture and industry.
"Raising productivity skills and investment in industrial sector is an imperative and a concerted effort by all in this regard is a heartfelt desire," the President told the function. He said some urgent measures are needed, such as long-term plans, for exploiting industrialization as driving force in the free market economy of present world. He emphasized private-sector initiatives for expediting industrialization in the country. "A perfect and strong private sector needed for expediting industrialization."
The Hon'ble President referred to a government plan for setting up 18 new BSCIC industrial estates in the country with necessary facilities and funding support for private entrepreneurs in a bid to strengthen the national economy.
Mr. Abdul Mannan Bhuyan M.P. Hon’ble Minister for Local Government, Rural Development and Cooperatives addresed the function as Special Guset Yussuf Abdullah Harun and FBCCI Vice-President Mr. Mohammad Ali.
Later, the Hon'ble President distributed awards to outstanding entrepreneurs and visited some stalls.

Hon'ble Minister for Local Government, Rural Development (LGRD) and Cooperatives Mr. Abdul Mannan Bhuiyan, M.P. addressing a Seminar on 16th September, 2002 at Bangladesh - China Friendship Conference Centre. Hon'ble Deputy Minister for LGRD and Cooperatives Advocate Ruhul Quddus Talukder, FBCCI President Mr. Yussuf Abdullah Harun and Vice-President Mr. Mohammad Ali are also seen in the picture.

Capacity building of FBCCI stressed

Hon'ble Minister for Local Government, Rural Development (LGRD) and Cooperatives Mr. Abdul Mannan Bhuiyan, M.P. attended a Seminar on "Regulatory functions that can be transferred to the FBCCI and other private sector institutions (PSIs) held on 16th September 2002 on the occasion of SME Fair- 2002organised by FBCCI at Bangladesh-China Friendship Conference Centre. Hon'ble Deputy Minister for LGRD and Cooperatives Advocate Ruhul Quddus Talukder, FBCCI President Mr. Yussuf Abdullah Harun and Vice-President Mr. Mohammad Ali were present in the Seminar.
LGRD Minister Mr. Abdul Mannan Bhuiyan recognized the need for reforms in trade regulations, but said any decision must follow a thorough discussion at government level.
Mr. Abdus Mannan Bhuiyan hoped that many regulatory functions would be automatically decentralized and transferred to local bodies if the Upazila system is introduced. The private sector should enhance its institutional capacity to take up new responsibilities, he said adding that the trade bodies might have good leadership but they lack in funds and research capability.
Syed Manzur Elahi also stressed the need for capacity building at FBCCI and other chambers and trade associations. He said trade regulations should be decentralized and local government bodies be authorised for setling trade regulations. "Why some from Gaibandha should travel to the capital to have clearance from government officers?" he questioned.
Business regulatory functions, such as issuance or renewal of trade license and dealership should be transferred straight to the FBCCI or district chambers. This was among the recommendations emerged from a seminar that called for reforms in laws, simplification of procedures and removal of vagueness in trade regulations.
The seminar suggested that the office of Chief Controller of Import and Export (CCI&E) should be abolished and instead divisional chambers could be engaged initially in collecting renewal fees and depositing it to the Treasury in exchange of service charges. Another suggestion came from the seminar is immediate setting up of a "deregulation commission" for overall regulatory reforms in trade regime. It also recommended that Export Promotion Bureau (EPB), Board of Investment (BOI) and the office of Director Trade Organizations (DTO) should be reorganized.
Mr. Yussuf Abdullah Harun, President of the FBCCI presided over the Seminar.

SMEs need more government patronization

FBCCI Organized a Seminar on "Support services needed for accelerated promotion of SMEs, particularly preparation of bankable proposals and their finance" on 16th September 2002 at Bangladesh - China Friendship Conference Centre. Mr. Yussuf Abdullah Harun, President, FBCCI chaired the Seminar. The Seminar was addressed by former industries and planning Minister Mr. AM Zahiruddin Khan, FBCCI President Mr. Yussuf Abdullah Harun, Chairman of Bangladesh Unnayan Parishad Dr. Qazi Kholiquzzaman, World Bank specialists Mr. Deepak Adhikary and Mr. Rajeev Gopal.
Small and Medium Enterprises (SME) need more government patronization as they engage around 87 per cent of total labour force of the country. Speakers said " The potentials of the SMEs should be utilized in the greater interest of the national economy.
Former Director of BSCIC Mr. Azizur Rahman presented the key note paper. Mr. Rahman in his paper said the contribution of SMEs to the economy is enormous. He said the enterprises need short term credit facilities as they function as driving force to provide goods and services with indigenous industries employing a large workforce with traditional and less sophisticate technology.
He said SMEs included readymade garments, frozen food and others share about 90 per cent of countries total export. These industries help decentralize and shape regional imbalances into a balanced economic growth. He suggested that government should organize a fund for this sector to provide technical and financial assistance through specified institution designed to help the SMEs only.
The chambers, side by side with government, may come forward to cater to management skills, enhancing marketing vision and marketing bankable project proposal.
The young entrepreneurs, who are coming forward with new ideas and bankable projects, should be assisted with capital by the government as well as leasing companies.
Mr. Zahiruddin Khan said the free flow of information is a must for all sorts of development. He said a data and technology bank should be created for SMEs to help save these entrepreneurs from exploitation by the agents.

FBCCI President, Mr. Yussuf Abdullah Harun is presenting a crest of FBCCI to Hon'ble Minister for Law, Justice and parliamentary Affairs Barrister Moudud Ahmed, M.P. Chief Guest of a seminar on "Moveable Asset for Financing the Importance of Secured Transaction Act" jointly organised by FBCCI and JOBS on 19th September, 2002 at FBCCI Conference Centre. Consultant of JOBS/IRIS Mr. Allen Welsh and Project Director of JOBS Mr. Imran Shaukat are also seen in the picture.

Legal system needs overhauling to become investment-friendly

Hon'ble Minister for Law, Justice and Parliamentary Affairs Barrister Moudud Ahmed, M.P. addressing a Seminar on "Moveable Asset for Financing the Importance of Secured Transaction Act" jointly organized by the FBCCI and JOBS on 19th September 2002 at FBCCI Conference Centre said the government has been working ceaselessly to develop an investment-friendly legal regime to boost local and foreign investment in the country. The country has laws for the easy disbursement of credit but the often lengthy and cumbersome procedures of the banking system are limiting entrepreneurs access to credit, the minister said.
"Bangladesh has a tremendous potential and a very vibrant economy but the thing we need to ensure is an
enabling environment. If the opposition plays its due role and avoids the path of hartals, we will be able to achieve a massive success in all the sectors", he said.
Mr. Allen Welsh, international consultant of JOBS, presented the key-note paper while Mr. SM Al-Husainy, Mr. Aminul Islam, Syed Naser Bukhtear and Mr. Md. Akhtaruzzaman Manju, among others, spoke.
While referring to the complicated legal system, the law minister said commercial cases worth Tk. 100 billion are pending with different Artha Rin Adalats and other courts across the country. The legal system must be reformed to make it more effective and industry-friendly, he said adding that, otherwise, the society would not move ahead.
Mr. Moudud Ahmed said laws relating to loan sanctioning are also complicated and not up-to-date. The law minister said access to credit largely depends on trust and if the borrowers achieve the trust of the lenders, they can easily manage credit for their business.
About intellectual property rights (IPR) law, he said the government has been working on the matter. He said necessary steps would be taken to make the patent and trademark registration law up-to-date for the growth of business.
Citing the example of Dholaikhal and Jinjira, he said the country had to import spare automobile parts worth Tk. 5.00 billion in 1985-86 but the people of these two areas are making those spare parts with proven efficiency.
FBCCI President, Mr. Yussuf Abdullah Harun in his speech, said moveable property financing provides greater access to business credit and promotes commerce but the law in Bangladesh is weak and inadequate on movable property financing.

Mr. Yussuf Abdullah Harun, President of the FBCCI addressing a discussion meeting jointly organized by the FBCCI and Bangladesh-British Chamber of Commerce (BBCC) on 30th September 2002 at FBCCI Board Room. Dr. Wali Tasar Uddin, Director General of BBCC and Engr. SM Anwar Hossain, Regional President of BBCC are also seen in the picture.

Call to set up Catering Institute in country

Speaking at a Discussion Meeting jointly organized by the FBCCI and London-based Bangladesh-British Chamber of Commerce (BBCC) a Discussion Meeting on 30th September 2002 at FBCCI Board Room, Engr. SM Anwar Hossain, Regional President of BBCC stressed the need to set-up a catering institute in Bangladesh in order to impart training to its thousands of waiters and chefs. Establishment of such an institute would pave the way for creating job scopes of the trained workers in Britain's restaurants, particularly in those owned by Bangladeshis. At present, some 11500 Bangladeshi restaurants are operating in Britain. The annual turnover of these restaurants is approximately 3.5 billion pounds, according to an estimate.
Mr. Yussuf Abdullah Harun, President of FBCCI moderated the session, while it was addressed, among others, by Director General of BBCC Dr. Wali Tasar Uddin, Mr. Mohammad Ali,Vice-President FBCCI and Mr. SM Haider Choudhury. Bangladesh should
In his speech, FBCCI Chief urged the Bangladeshis living in Britain to invest in the country's capital market to help expand the industrialization process. Investment in the capital market will directly contribute to the country's economy, he said. Currently, a major portion of the savings of the Non-Resident Bangladeshis (NRB) go to the real estate sector, he said.
"This practice of the NRBs contributes to the inflated rate of the lands", he added. Bangladeshi restaurants in Britain import poultry, chatney, papadum and other related items from India, Mr. Harun said, urging the Bangladeshi businessmen to import those ones from Bangladesh.
The FBCCI President also laid stress on the export of skilled IT professionals to the UK. He requested the leaders of BBCC to convince the British Trade Minister to participate in a trade fair to be held in Dhaka next February.

FBCCI delegation led by its Vice-President Mr. Mohammad Ali is seen handing over a paper on the ICT Policy recommendations and action plan on ICT Policy of Bangladesh to Hon'ble Minister for Science, Information and Communication Technology, Dr. Abdul Moyeen Khan, M.P. on 3rd October2002 at his Secretariat Office . Secretary of the Ministry Karar Mahmudul Hasan, Mr. Md. Akhtaruzzaman Manju, Director, FBCCI and Director in-charge of the FBCCI Standing Committee on Information Technology and Intellectual Property Rights, Mr. Mustafa Jabbar, co-convener and Mr. Habibullah N. Karim, member of the taskforce are also seen in the picture.

ICT sector stakeholders vow to raise export income to Tk. 2b

A delegation of the FBCCI led by its Vice-President Mr. Mohammad Ali submitted the recommendations on ICT Policy of Bangladesh prepared by FBCCI Taskforce to Hon'ble Minister for Science, Information and Communication Technology, Dr. Abdul Moyeen Khan, M.P. at his Secretariat office on 3rd October, 2002. Secretary of the Ministry Karar Mahmudul Hasan, Mr. Md. Akhtaruzzaman Manju, Director, FBCCI and Director in-charge of the FBCCI Standing Committee on Information Technology and Intellectual Property Rights, Mr. Mustafa Jabbar, co-convener and Mr. Habibullah N. Karim, member of the taskforce were present on the occasion.

Commenting on few of the suggestions Dr. Moyeen Khan said the government remained conscious about making the copyrights Act effective as the law is now under review. The Minister said his target of providing each and every school with computers would be a "rewarding investment" in the knowledge economy that is up and coming fast to transform the old world economic order.

About the Equity Entrepreneurship Fund (EEF) Tk. 300 crore, he viewed that the entrepreneurs would not be able to draw even Tk. 30 crore because of wrong mechanisms. The current budget earmarked the amount to promote investment in ICT and agro-based industry.

The Minister also asked the businessmen for showing their performance up to the mark in earning foreign currency from the sector as he recalled the Finance Minister's demand for giving him Tk. 100 billion annually while agreeing to exempt computers from import duty.

Mr. Yussuf Abdullah Harun along with Hon'ble Minister for Industries, Mr. M.K. Anwar MP called on Hon'ble Sri Lankan President H.E. Ms Chandrika Kumara Tunga at her office in Colombo.

FBCCI President visited Sri Lanka

FBCCI President Mr. Yussuf Abdullah Harun visited Sri Lanka as entourage of the Hon'ble Minister for Industries, Mr. M.K. Anwar MP on 5th October, 2002 on an invitation of H.E. Prof. G.L. Peiris, Hon'ble Sri Lankan Minister for Enterprise Development, Industrial Policy and Constitutional Affairs.
During the 5-day visit, the FBCCI Chief attended a bilateral meeting with Enterprise Development, Industrial Policy, Investment Promotion and Constitution Affairs Minister Professor GL Peiris with a view to boosting bilateral trade and investment links between the two countries.
Mr. Yussuf Abdullah Harun also attended a seminar titled "Investment opportunities with Bangladesh" organized by the Sri Lankan Federation of Chamber of Commerce and Industry. The seminar attended by the potential business personnel and industries of both the countries.
During his stay, the FBCCI Chief also called on the Sri Lankan President H.E. Ms Chandrika Kumara Tunga, speaker of Sri Lankan Parliament Mr. Joseph Michael Perera and Ministers for Commerce, Port and Shipping, Western Regional Development and Housing Minister. He also visited the Sri Lankan EPZ.

Mr. Tadao Chino, President of the ADB as the Chief Guest addressing a seminar on "Impediments to the Development of Private Sector" organized FBCCI at a local hotel on 30th October 2002. Mr. Yussuf Abdullah Harun, President, FBCCI, Mr. Yoshihiro Wasaki, Director General SARD, Mr. Toru Shibuichi, Country Director of ADB, Mr. Saiful Islam, Alternate Executive Director of ADB, Mr. Mahbubur Rahman, President, ICC, Bangladesh, Mr. Tapan Chowdhury, President, MCCI, Mr. Matiur Rahman, President, DCCI and Mr. Kutubuddin Ahmed, President, BGMEA are also seen in the picture.

FBCCI hailed Army deployment

The FBCCI welcomed the deployment of army along with the joint drive of police and Bangladesh Rifles (BDR) in maintaining law and order, recovering illegal arms and arresting terrorists and criminals.
The FBCCI the apex body of the business community had expressed its deep concern at the deterioration of law and order affecting the congenial environment in trade and commerce and had called upon the government to take necessary steps to improve the situation under such circumstances.
The FBCCI greeted the government for taking decision to deploy army to bring relief to civic life. There is no alternative to industrialization and increase production to face the challenges of competitive world market and improvement of law and order is the pre-condition for fair maintenance of economic activities, the FBCCI said.
The deployment of army and their drives bring hope to the business community on improvement of law and order, the FBCCI said and expected that the law and order would be restored through fair and neutral drive of the army in recovering illegal arms and eradicate terrorism. It said the business community would extend all-out cooperation in this regard.

Interaction with Business Leaders
ADB Not Exerting Pressure For Gas Export : Chino

President of the Asian Development Bank (ADB) Mr. Tadao Chino while speaking at a Seminar on Impediments to the Development of Private Sector" organized FBCCI at a local hotel on 30th October 2002 said, ADB is not exerting any pressure on the Government to export gas.
Marking the 20th anniversary of ADB's Bangladesh Resident Mission, Mr. Chino outline the Banks Investment Plan and expressed the hope that the government would take decision on the issue from realistic point of view for export of gas.
The donor agency has reportedly told Petrobangla that it would not provide a loan of US$ 700 million for the fourth Natural Gas Development Project (NGDP) unless the government exports minimum 250 million cubic feet of gas a day.
FBCCI President Mr. Yussuf Abdullah Harun welcomed the ADB Chief and the businessmen including Presidents of major Chambers and Associations. In his address the FBCCI President sought support of the donor agency in building capacity of the private sector trade bodies to ensure better promotional and counseling services to their respective members. He also expected that ADB would continue to work vigorously with the private sector to overcome impediments and help build a prosperous Bangladesh. Mr. Harun said the assistance programme of ADB would give the highest priority to areas with high poverty-reduction impact, including development of Small and Medium Enterprises (SMEs) and agribusiness, to generate employment, income and production."
The ADB President said ADB's private sector operations in infrastructure development would be on power generation and transmission, water supply, transport and telecommunications. To this end, private sector participation in energy projects in the natural gas and electricity sectors will be further enhanced by advisory assistance, he added.
In support of government efforts, Mr.Chino said, an important objective of ADB assistance programme in Bangladesh is to help improve the climate for private sector development and mobilize private sector resources for faster economic growth.
ADB Director General for South Asian Regional Development Mr. Yoshihiro Iwasaki, ICCB President Mr. Mahbubur Rahman, MCCI, President Mr. Tapan Chowdhury, DCCI President Mr. Matiur Rahman and BGMEA President Mr. Kutubuddin Ahmed also addressed the Seminar.
ICCB Vice President Mr. Latifur Rahman, former President of FICCI AKM Shamsuddin and BTMA Chairman Mr. A Matin Chowdhury took part in open discussion on economic development plans.

Yussuf Abdullah Harun Elected Vice President of CACCI

FBCCI President Mr. Yussuf Abdullah Harun has been elected Vice-President of the Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI) for 2002-2004.
The election was held at the CACCI's 65th council meeting in the Jeju Island of South Korea on October 30, 2002. 23 chambers and 120 business representatives from different countries of Asia and the Pacific attended the meeting. The Bangladesh representatives were Prof. Masuda M. Rashid Chowdhury, Director, FBCCI and Convenor, FBCCI-CACCI Affairs Committee and Mr. Md. Mazibur Rahman, Deputy Secretary of FBCCI.
Korea Chamber of Commerce and Industries (KCCI) organized the two-day meeting of Chambers and representatives from Australia, Bangladesh, Brunei Darus-salam, Cambodia, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Mongolia, Nepal, New Zealand, Papua New Guinea, Pakistan, The Philippines, Russia, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam attended the meeting.
This year's Conference carried the theme "Business in a Changing Environment" a topic of utmost interest to businessmen in the region. Eminent personalities and experts were invited to share their insights on three major topics of the Conference. Topic one focused on "The New WTO Round and what it Means for Asia" Topic two on "Shifting Patterns in Asian Trade and Investments : Emerging Free Trade Areas and the Rise of China" and Topic Three on "Corporate Governance and the Role of the Business Sector."
FBCCI Director Professor Masuda M. Rashid Chowdhury conducted one of the Working Sessions of the 19th CACCI Conference entitled "Corporate Governance and the Role of the Business Sector" as Chairperson. Bangladesh was judged as the best report presenter of the Asia-Pacific region with its activities regarding CACCI. Bangladesh was also applauded as the highest participating country in CACCI region.

Continuous loans to certain sectors
Finance Minister Blasts Businessmen for not Utilizing Equity Fund

Mr. M. Saifur Rahman, M.P. Hon'ble Minister for Finance and Planning as Chief Guest inaugurated a Workshop on "Attaining interest of entrepreneurs to take Equity and Entrepreneurship Fund (EEF)" jointly organized by the FBCCI and Bangladesh Bank at FBCCI Conference Centre on 10th November 2002 Dr. Fakhruddin Ahmed, Governor, Bangladesh Bank, Mr. Yussuf Abdullah Harun, President, FBCCI and Mr. Mohammad Ali, Vice President, FBCCI were present on the workshop.
Blaming the entrepreneurs for having a tendency to make quick money with bank loan, Mr. Saifur Rahman pointed his guns at the bankers too for allocating money only for the big projects devoid of adequate feasibility and market studies a practice that helped cause default loans. "Equity lending is the most notorious in Bangladesh" he said referring to the need for simplifying loan disbursement for encouraging the genuine entrepreneurs lacking collateral.
The amount of Taka 300 crore was earmarked in the budget of the current (2002-2003) fiscal, but only Taka 22 crore has been disbursed so far and another Taka 46 crore is now under process of disbursement. The EEF was of Taka 100 crore first in 2000-2001 budget, most part of which remained unutilized then. Even after simplification of the rules, Central Bank officials said many of the businessmen did not show interests. The Finance Minister said the government would increase the allocation from the next fiscal year by another Taka 300 crore.
Mr. Saifur Rahman regretted for a "degenerated culture" that the people these days want to become rich overnight with the money of the banks and they have more interests in undertaking big projects so that a significant portion of that could be 'misappropriated'.
Besides, he noted, the propensity to invest in same sectors created a lot of problems like default loan, in making viable the "multiplicity of projects" and he called upon the bankers to conduct adequate market survey before giving nod to a kind of project.
Bangladesh Bank Governor Dr. Fakhruddin Ahmed and FBCCI President Mr. Yussuf Abdullah Harun also addressed the inaugural function.

FBCCI President Mr. Yussuf Abdullah Harun, Vice-President, Mr. Mohammad Ali and Directors of FBCCI among others are offering Munajat at a Milad mahfil and Iftar party hosted by FBCCI on 21st November 2002 at FBCCI Conference Centre.

FBCCI arranged a Milad Mahfil and Iftar party

A Milad mahfil and Iftar party of the FBCCI was held on 21st November 2002 at FBCCI Conference Centre. FBCCI President Mr. Yussuf Abdullah Harun, Vice-President Mr. Mohammad Ali, Directors of FBCCI, Diplomats of the Foreign Missions, Journalists, General Body members of the FBCCI, Heads of member bodies and the leading business leaders of the country attended the Milad.
The business leaders offered Munajat and prayed for the development of the trade and business sector of the country. They also prayed for happy and prosperous life of the countrymen. An Iftar party was held after the Milad. A large number of business leaders of the country took part in the Iftar.

Mr. Prodyut Dutt, Transport Specialist, Transport and Communications Division (West) of the ADB called on Mr. Mohammad Ali, Acting President of the FBCCI at FBCCI Office on 26th November, 2002. Ms Hua Du, Principal Programme Officer of Bangladesh Resident Mission, ADB, Mr. M.A. Rouf Chowdhury and Prof. Masuda M. Rashid Chowdhury, Directors of FBCCI are also seen in the picture.

ADB keen to provide technical assistance to Chittagong Port

To improve efficiency of the Chittagong Port from the present state, Asian Development Bank (ADB) has expressed its interest to provide technical assistance to the largest seaport of the country. The Bank will take up the problems, raised by the FBCCI with the government to identify the areas of cooperation. The assurance came at a meeting between a two-member ADB delegation and the FBCCI at FBCCI Office on 26th November 2002.
Welcoming the delegation, FBCCI acting President, Mr. Mohammad Ali thanked the ADB delegation for their interest in improving port.
FBCCI Director Mr. M.A. Rouf Chowdhury apprised the ADB officials of the port problems being faced by businessmen in their export-import trade. The problems included trade union, customs hassle, high port charges, navigability of the port channel, port maintenance and the structure of the port authority.
FBCCI Acting President Mr. Mohammad Ali suggested gradual privatisation of port services towards a total privatisation to solve the port problems.
ADB's Principal Programme Officer at its Bangladesh Resident Mission Mr. Hua Du and the FBCCI Directors, Mr. M.A. Rouf Chowdhury, Prof. Masuda M. Rashid Chowdhury, Mr. Momtaz Uddin and Mr. Abu Motaleb were present at the meeting.

FBCCI Delegation attended the 16th Industrial India Trade Fair at Kolkata

A 12 member FBCCI Business Delegation led by FBCCI President Mr. Yussuf Abdullah Harun attended the16th Industrial India Trade Fair organized jointly by Bengal National Chamber of Commerce & Industry (BNCCI), Government of West Bengal and India Trade Promotion Organization during 19th December to 22nd December 2002 at Kolkata, India. Mr. Buddhadeb Bhattacharjee Hon'ble Chief Minister of West Bengal inaugurated the four day Fair on 19th December 2002 at Kolkata Maidan. Mr. Amir Khosru Mahmud Chowdhury, Hon'ble Minister for Commerce, Government of Bangladesh was present at the inaugural function as Chief Guest while Mr. Yussuf Abdullah Harun President of the FBCCI as Guest of Honour.
During his stay in Kolkata the FBCCI President met the leading business leaders of BNCCI and Indian Chamber. The FBCCI Chief also attended a luncheon meeting hosted by Indian Chamber of Commerce, Kolkata.
Other members of the Bangladesh delegation were Ms. Nasreen Awal Mintoo, Md. Ali Hosain,.Mr. Mirza A. Syead, Mr. Md. Farukul Islam Shova, Al-haj Sharif Md. Fazlur Rahman, Md. Sawqat Ali, Mr. Biswajit Bhowmik, Mr. Ataur Rahman Kamal and Mr. Rezwanur Rahman.