AK Azad, middle, president of Federation of Bangladesh Chambers of Commerce and Industry, attends the monthly luncheon meeting of American Chamber of Commerce in Bangladesh (AmCham) at Dhaka Sheraton Hotel yesterday. From left, Khalid Hasan, AmCham vice
president; Syed Nasim Manzur, vice president of Metropolitan Chamber of Commerce and Industry; Nicholas J Dean, deputy chief of mission of the US embassy; Aftab ul Islam, AmCham president; Abul Kasem Khan, president of Dhaka Chamber of Commerce and
Industry; and A Gafur, AmCham executive director, are also seen. Photo: AMCHAM

Business leaders yesterday urged the government to ensure right policy support and improved gas and power supply and infrastructure for tapping economic opportunities.
It is possible to achieve 6.7 percent economic growth for fiscal 2010-11, if the government ensures a better supply of gas and power, improves infrastructure and makes the Chittagong port functional, said AK Azad, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
He was addressing businessmen at the regular October luncheon meeting of the American Chamber of Commerce (AmCham) in Bangladesh as the chief guest.
The FBCCI boss also said Bangladesh exported ready-made garment products worth $3.9 billion to the USA in the last fiscal year.
It is possible to export RMG products worth $15 billion to the US in the next three years because all renowned brands such as Wal-Mart, GAP and Target are shifting orders from China, the largest apparel supplier in the world to Bangladesh, Azad said.
While speaking on Bangladesh Economy: Opportunities and Challenges, Azad said a long turnaround time at the Chittagong port, inadequate supply of power and gas to industrial units and poor infrastructure are the major challenges in reaching the target for economic growth.
The deployment of army to bring normalcy to the port is not the solution; the port activities must run smoothly to promote business, he added.
Syed Nasim Manzur, acting president of Metropolitan Chamber of Commerce and Industry, said Bangladesh has already been recognised by some international global financial institutions as one of the emerging economies.
Twenty years ago, the scenario was different because it was difficult to take loans from banks and export goods, but the transactions have been made easy thanks to the introduction of back-to-back letter of credit (LC) system in export of goods, he added.
Bangladesh imports 3 percent of the total cotton output of the US, which indicates the strength of the RMG sector, he added.
Bangladesh needs labour-intensive industries because every year three million people are coming to the job market and the private sector is playing a vital role in creating employment, Manzur said.
"The labour in Bangladesh is not cheap; we actually have low-cost labour with lower productivity," he added.
Abul Kasem Khan, president of Dhaka Chamber of Commerce and Industry, asked the government for Dhaka-Chittagong business corridor for diversified business activities.
He said it is possible to achieve 8 percent to 10 percent economic growth in the near future if challenges like energy and infrastructures are handled efficiently and urgently. "We need coal-based energy security for economic development," he said.
Former FBCCI president Annisul Huq said the biggest challenge for Bangladesh is its poor infrastructure.
AmCham President Aftab ul Islam chaired the meeting.