He made the call at the launch of India-Bangladesh Chamber of Commerce and Industry (IBCCI) at a city hotel yesterday, which is supposed to be a latest window of opportunity for enhancing bilateral trade and investment as well as reducing the yawning trade gap between the two neighbouring countries.

Indian State Minister of Commerce Jayram Ramesh, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Mir Nasir Hossain, and Acting High Commissioner of India Sarvajit Chakravarty attended the programme as special guests.

Finance Adviser Dr AB Mirza M Azizul Islam was present as guest of honour on the occasion.

The president said the chambers of trade and commerce could help bolster country's economic environment, including favourable investment climate, government policies on trade and commerce, EPZ facilities, availability of cheap and hardworking labour force, transportation facilities and friendly cooperation from all corners of the global business community.

"It is needless to say that the role of trade bodies is of paramount importance in enhancing economic development in the country," he said in his address to the launching ceremony of the joint chamber.

He hoped that the IBCCI would play its due role in boosting country's economy for the well-being of the nation. "Our friendly bilateral relations, particularly in the fields of trade and commerce between the two countries, would be further strengthened and expanded through its activities," he said in his note of optimism.

The President mentioned that formulation of some principles by the World Trade Organisation (WTO) has ushered in a massive competition in world trade and the free movement of goods has also increased.

As a result, he noted, many developing countries like Bangladesh are facing tremendous competition both in regional and international arena.

In this changed context, the economy of Bangladesh has been closely integrated with global economy, and with the passage of time, this integration is becoming deeper day by day.

"In this situation, we have no scope for lagging behind rather we need to compete with the outside world for achieving economic advancement. And keeping this in mind, we have to adopt appropriate measures so that we can protect and advance our economy for the interest of the nation," he said.

The President told his business audience that the members of trade associations as well as the trade organisations have ample opportunity to explore all avenues of economic cooperation with a view to boosting country's investment, trade and commerce.

He also called upon the foreign investors to invest in Bangladesh and import its top-quality pharmaceuticals, melamine, garments, frozen foods, ceramic, and leather and jute goods at a competitive price.

The president called upon the authorities concerned as well as the trade bodies to adopt appropriate measures in order to reduce the trade gap between the two countries by exporting more commodities to India.

"I hope, the newly constituted IBCCI will take positive steps in this regard," he said.

The president called upon all to go ahead for fulfilling the hopes and aspirations of the millions. "Let us now build our country by using our collective strength, courage and wisdom. Let us make united endeavour for building Bangladesh as an abode of welfare, happiness and prosperity."