Bangladesh's Prime Minister Sheikh Hasina today (March 11, 2023) asked the business community leaders to find ways to bring commodity prices to a normal level.
“Considering public suffering, the business community leaders will have to find ways to bring prices of essentials to a normal level. Otherwise, you will lose your markets,” she said.
The premier said this while inaugurating Bangladesh Business Summit-2023 at Bangabandhu International Conference Centre in the city.
Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), in partnership with Ministry of Foreign Affairs, Commerce Ministry and Bangladesh Investment Development Authority (BIDA), is arranging the three-day summit.
Sheikh Hasina said people are going through a very difficult time due to high prices of essentials and inflationary pressure.
She said developing countries like Bangladesh as well as developed countries are facing severe problems due to price hike of essentials and high inflation caused by the Russia-Ukraine war, economic sanctions and counter-sanctions following the Covid-19 pandemic.
Ministers from seven countries including the United Kingdom, the Kingdom of Saudi Arabia, China, Bhutan and the United Arab Emirates, CEOs of 12 multinational companies, and more than 200 foreign investors and business leaders from 17 countries are participating in the business summit.
Foreign Minister Dr AK Abdul Momen, Commerce Minister Tipu Munshi, PM's Private Industry and Investment Affairs Adviser Salman Fazlur Rahman, Saudi Arabian Minister of Commerce Dr. Majid bin Abdullah Al-kassabi, Bhutanese Minister of Commerce and Employment Karma Dorjia and Deputy Director General of World Trade Organisation (WTO) Xiangchen Zhang spoke at the opening function, while FBCCI President Md Jashim Uddin delivered the welcome speech.
The Business Summit is being organized as a part of the FBCCI's 50th founding anniversary celebrations with the aim of creating new opportunities for trade and investment by showcasing the country's economic potential before a global audience.
The Business Summit will showcase dynamic investment opportunities and improvements to the local business climate while also giving insights into investment priorities of global investors to improve policymaking.