CA pledges all-out support to legitimate commerce
Chief Adviser Fakhruddin Ahmed reiterated yesterday his government's all-out support and priority-based cooperation in expanding competitive and legitimate commercial activities in the country.
"The trend of international market is now oriented towards globalisation. Foreign trade is now more competitive and is based on knowledge and policy guidelines than any other time in the past. We'll have to turn this challenge into opportunity through pragmatic strategy and combined efforts," he said.
Fakhruddin was addressing the inaugural function of the three-day Third Bangladesh Knitwear Exhibition 2007 at Hotel Dhaka Sheraton, organised by Bangladesh Knitwear Manufacturers' and Exporters' Association (BKMEA).
The chief adviser said partnership and combined efforts of the government and private sector would have to be further strengthened in the future for the sake of the country's march toward development.
He said the government has been implementing various measures in line with the guidelines in the country's export policy for exploring new export market.
For diversification of products by reducing dependence on limited number of goods, the government in its export policy has given highest priority to IT, software, agriculture and agro products, light engineering, leather products, pharmaceutical industry and higher value-added readymade garments, Fakhruddin said.
He said the government is continuing its efforts to explore more international market for Bangladeshi products. If Safta is fully implemented, there is possibility of manifold increase of inter-trade between the South Asian countries.
Discussions are going on for
duty-free access of Bangladeshi products to Russian, Malaysian, Asean and the neighbouring markets, he told the function.
Presently, Bangladeshi products have got duty-free access to the markets of European Union, Canada, Australia and Norway.
Fakhruddin said the government is lobbying for the passage of "New Partnership for Development Act 2007" in the US Congress which will give the country's products duty-free access to the US market. If the bill is approved, readymade garment export there would increase rapidly, he said.
He mentioned some steps of the government designed for accelerating trade and business. These include formation of Bangladesh Better Business Forum and Regulatory Reforms Commission, steps for increasing power supply, improvement of management at Chittagong Seaport and reform in economic sectors. Fakhruddin said the measures are bringing positive results.
The chief adviser said against the backdrop of increasing prices of commodities, it is essential to ensure minimum wages of the workers.
He added that on overall consideration, productivity of export-oriented industries would have to increase and implementation of compliance ensured to sustain the rate of export.
He, however, expressed his satisfaction to learn that most of the BKMEA factories have implemented minimum wage and requested others to follow suit immediately.
Finance and Commerce Adviser Mirza Azizul Islam, Power and Energy Adviser Tapan Chowdhury and BKMEA President Fazlul Huq also spoke at the function.
Later, the chief adviser formally inaugurated the Knitwear Exposition and went around some stalls.