Sign FTA to be ready for post-LDC challenges: FBCCI

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) today urged the Saudi Arabia to sign a free trade agreement (FTA) to help Bangladesh get ready for the challenges the country will face after its graduation from the least developed country category.

FBCCI President Md Jashim Uddin made the call while addressing the Saudi-Bangladesh Business Forum at the Bangladesh Business Summit-2023 being held at Bangabandhu International Conference Centre in Dhaka.

Bangladesh will gradually lose most of its existing preferential trade facilities, including quota- and duty-free market access to most of the developed and developing countries, he said.

"So, I believe it could be the right time to take initiative between the two countries to sign FTA to face the post-LDC challenges and also explore the advantage of the value chains on the basis of the mutual benefits."

The FBCCI in partnership with the foreign ministry, the commerce ministry and Bangladesh Investment Development Authority (BIDA) organised the three-day summit.