High profile ICC-B confce to talk trade next year
Against the backdrop of disappointing outcome of multilateral trade negotiations, the International Chamber of Commerce, Bangladesh (ICC-B) is going to organise an international business conference next year to discuss trade and investment issues.
The high profile conference titled "Global Economic Governance and Challenges of Multilateralism" will be held in Dhaka on January 17 and 18 bringing together a host of leaders from both developing and least developed countries (LDCs).
For all latest news, follow The Daily Star's Google News channel. Prime Minister Khaleda Zia is expected to inaugurate the conference while Prime Minister of Thailand Thaksin Shinawatra will be the keynote speaker, ICC-B President Mahbubur Rahman told a press conference yesterday.
Former Indian prime minister IK Gujral, Indonesian Industry and Trade Minister Rini M Sumarno Soewandi, Sri Lankan Commerce and Consumer Affairs Minister Ravi Karunanayake and Turkey Industry and Trade Minister Ali Coskun have already consented to join the conference as guest speakers.
The ICC-Bangladesh president said the global economic agenda appears to have taken a backseat, more particularly in trade and financing issues of the least developed countries that require emergency attention.
"We have invited WTO Director General Supachai Panitchpakdi and Unctad Secretary General Rubens Ricupero to address the opening plenary session and most likely they will be able to make it," he said.
Disclosing the details on the conference Rahman said the Bangladesh National Committee of ICC the world business organisation, will also celebrate the 10th year of its presence in Bangladesh next year.
About the conference agenda focussing on the interests of the LDCs, the ICC-B president said the LDCs have been the worst hit because of the slow progress in the multilateral trade negotiations, including the WTO ministerial meetings.
He said many of the deadlines fixed in the Doha ministerial meeting expired without any tangible results.
"The LDCs have no reason to be highly optimistic about the outcome of the upcoming Cancun ministerial meet, since much of the issues they are pressing ahead may finally remain unresolved at the meeting."
"Developing nations, LDCs in particular, are having a raw deal in the dispensation of the share in world-trade in a so-called free-trade regime. At the same time, global economic power houses are also engaged in a bitter rivalry over the trade as well as non-trade issues," Rahman said.
He said it is also quite evident that the world's major economic powers including the US are now heavily pre-occupied with their security concerns and strategic issues both at home and abroad.
The growing frustration over the delay in building up a fair, strong and healthy multilateral trade regime needs to be taken seriously by all concerned in order to avoid serious disruption in the world economic order, he added.
"No doubt, addressing the conflicting interests between and among the developed as well as developing countries in matters of trade is a daunting task. But there is no scope for backing out," the ICC-B president observed.
He said the prevailing situation with regard to global trade makes it imperative for the world leaders to lend their undivided attention to the development of an integrated global market place to ensure shared prosperity of all nations.
The ICC-B chief said the leaders of a number of governments, businesses, economists, chief executives of multilateral and UN agencies will take part in the conference and deliberate on issues of economic governance and the challenges ahead.
The conference will begin with a plenary session on 'governance and multilateralism' on January 17. The next day there will be three business sessions on 'multilateral trade regime in the post Cancun perspective', 'capacity building for investment promotion in developing countries' and 'trade facilitation through dispute resolution'.
ASM Quasem, vice-president and Zafar Hamid, secretary of ICC-B were present at the press conference.
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