International Chamber of Commerce-Bangladesh (ICCB) has said the current law-and-order issues have led to “adverse reactions” from international brands and buyers, raising concerns about future orders. It is crucial to devise a strategy to rebuild relationships with key export markets and importers urgently, the ICCB said in its editorial of the current news bulletin released on Wednesday. Businesses fully trust Chief Adviser Prof Muhammad Yunus's leadership in creating a ‘New Bangladesh’ and will act as a catalyst with the interim government to ensure true democracy, justice for all, discrimination-free, and sustainable, inclusive growth to fulfill the dream of our martyrs, said the chamber body. However, it said, some actions and steps taken do not seem to be in line with achieving these objectives as opined by civil society and experts. “Nevertheless, we are optimistic about the future.” Private sector will work hand in hand with interim government to rebuild country's economy: ICCB President Besides, according to BGMEA, the garment industry has suffered collective production loss of around US$400 million. “As the RMG sector is crucial to our export earnings, ensuring uninterrupted operations and taking comprehensive measures to stabilise the garment industry is vital,” said the ICCB. August 5 marked a landmark victory for the people of Bangladesh through an unprecedented Anti-discrimination Students' Movement, said the ICCB. The ‘Quota Reform Movement’, which initially aimed to reform the 2018 quota system for government jobs, ultimately attributed to the end of Prime Minister Sheikh Hasina's 15-year ‘autocratic’ governance, according to the editorial. This achievement, showcasing the solidarity, strength, and determination to uphold the rights of students and the people, serves as a testament to the enduring spirit of collective action, even in the face of significant challenges. Thus, ICCB said, a new chapter of democracy and good governance has unfolded in our country through the sacrifices made and the mass movement supported by the entire nation. “We honour the movement's martyrs, pray for the salvation of their departed souls, offer our condolences to their families, and wish a swift recovery for those who were injured.” Businesses emphasised the urgent need to address various issues, particularly the law and order situation, said the chamber body. Bangladesh could reduce costs by 11-12%, gain additional $0.6 billion in exports by embracing digital trade: ICCB Roundtable Despite government efforts, including deploying armed forces, some miscreants continue to instigate unrest, affecting industries, especially the RMG sector, ICCB observed. Although all demands of RMG workers have recently been accepted, industrial areas still face disruptions due to outsiders causing disorder, it said. These offenders have engaged in robbery, vandalism, arson, and looting, resulting in damages exceeding Tk. 5,000 crores as estimated by the businesses. Businesses emphasised on ensuring stable energy supply, financial sector stability, improving the country's image, and advancing the ICT sector. Approximately 70 million people work in various sectors such as garments, pharmaceuticals, food processing, leather, small industries, and ICT. Unrest in the industrial sector could lead to mass unemployment, causing social and economic instability, said the ICCB. The youth represent the country's future, and fostering employment and economic growth requires strengthening and expanding the private sector. The business community aims to collaborate with the younger generation, leveraging their intellect and vision to present Bangladesh in a new light on international platforms, the ICCB added.    

In the context of the ongoing global financial and economic crisis, banks and businesses need to take stringent measures to ensure that their sales transactions are watertight. Open account and International factoring are being adopted by most countries around the world for better and smoother trade finance. Factoring in South Asia as a region in general and Bangladesh, in particular, has still been very limited, whereas factoring in most other regions of the world has exploded with the shift towards open account trade, said ICC Bangladesh Vice President A. K. Azad at the Certificate Award Ceremony of ICC Bangladesh Workshop on Factoring & Open Account for International Trade Finance. Bangladesh has made a strong economic recovery from the COVID-19 pandemic. The export income is increasing and is successfully advancing overcoming all hurdles. During FY22, the RMG export was $42.62 billion, which is about 82 per cent of the total export of $52.08 billion. The Country is poised to overtake China in garments export to the EU. Bangladesh’s share in the global RMG market is only 6.50% as against China’s 32.21%, he added. Azad mentioned that BGMEA is targeting to export US$100 billion worth of garment items by 2030. Besides, there is immense potential for Bangladesh to increase its export of leather goods, pharmaceuticals, plastic products and other products. Azad observed that Bangladesh Bank’s circular on ‘conditional open account transactions’ is a good initiative. It is now more than two years that open account transactions have been allowed by Bangladesh. We would suggest undertaking studies on the impact of this decision as well as considering the possibility of allowing conditional open account for import as well.  ICC Bangladesh can work together with Bangladesh Bank in this regard, he said, “Bangladesh Government is promoting digitization to make Smart Bangladesh. Therefore, we would suggest appropriate policy changes should be made by Bangladesh Bank to digitize international trade. We from ICC Bangladesh will be delighted to support Bangladesh Bank in implementing DSI developed by ICC HQ.”   Azad said. Ahmed Jamal, Deputy Governor of Bangladesh Bank in his keynote speech mentioned that Bangladesh Bank after huge exercises brought radical changes in foreign trade transactions by the issuance of FE Circular No. 25 on June 30, 2020. Bangladesh Bank is always committed to providing policy support to our exporters and importers. Given the ongoing situation due to the Covid-19 pandemic, Bangladesh Bank extended policy supports to international trade by ways of (a) extending repatriation of export proceeds, (b) extension of usance periods of import payments including back-to-back LCs, (c) EDF loan repayment extended to 360 days, (d) refinancing from EDF for normal back to back LCs and so on, Deputy Governor added. He observed even during the pandemic situation we are being visited by several international financing institutes. This indicates that we are growing despite different odds. I am sure external financiers will benefit from trade transactions in Bangladesh. He requested the exporters to use the policy to protect their payments. Dr Md. Akhtaruzzaman, Director General, Bangladesh Institute of Bank Management (BIBM) &   Peter Mourly, Secretary General, Factor Chain International, The Netherlands addressed the inaugural session and ICC Bangladesh Secretary General Ataur Rahman delivered the welcome address. In the workshop, a panel discussion was held. The panel discussion was moderated by   Muhammad A. (Rumee) Ali and the keynote speaker was   Ahmed Jamal, Deputy Governor of Bangladesh Bank.  The panelists were:   Md Fazlul Hoque, Managing Director, Plummy Fashions Ltd.;   Mohammad Hatem, Executive President, BKMEA & Managing Director, MB Knit Fashion Ltd.;   Muhammad Mohsin Reza, General Manager, Supply Chain of SKF Pharmaceuticals Limited;   Naser Ezaz Bijoy, President, Foreign Investors’ Chamber of Commerce & Industry (FICCI) and Chief Executive Officer, Standard Chartered Bank;   Ahmed Shaheen, Additional Managing Director, Eastern Bank Limited;   Peter Mulroy, Secretary General, Factor Chain International (FCI) and Dr Prashanta Kumar Banerjee, Professor, Bangladesh Institute of Bank Management (BIBM). A total of 131 participants including officials of the Ministry of Commerce and Bangladesh Bank, 96 participants from 31 banks and 32 participants from 24 companies attended the day-long workshop. Read more: Accelerate gas exploration to overcome energy crisis: ICCB    

The 15th International Plastic Fair (IPF) 2023 is going to begin on February 22 at the International Convention City, Bashundhara (ICCB) in Dhaka. The 4-day expo will continue till February 25. Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) and Yorkers Trade & Marketing Co., Ltd., will jointly organise the IPF-2023 to showcase the plastic products and technologies of the local and international producers. BPGMEA president Shamim Ahmed announced this at a press conference at the organisation's headquarters in the city on Tuesday while other leaders of the organisation were present on the occasion. Plastic goods manufacturers and technology producers from 21 countries including Bangladesh, China, India, Taiwan, Vietnam, Sri Lanka, Pakistan, Indonesia, South Korea, Belgium, Canada, United States, France, Hong Kong, Italy, Japan, Malaysia, Austria, Singapore, Turkia, and United Arab Emirates (UAE) will join the expo. Read more: Monster made of plastic waste at Cox’s Bazar to spread awareness Commerce Minister Tipu Munshi is expected to inaugurate the expo while Industries Minister Nurul Majid Mahmud Humayun is scheduled to be present at the concluding session of the fair. Addressing the press conference the BPGMEA president said that the organisaion has been organising the IPF for long which has now become one of the biggest trade events in South-East Asia. "The event plays a pivotal role in attracting investment in the plastic sector, expanding the plastic goods' market and promoting the business in the local market and also exporting to the global market,"he added. "We hope the plastic sector will make a significant contribution to the country's GDP through its performance," he said. The BPGMEA leaders mentioned that the last IPF was held in 2019. But no fair was held in 2020 due to Covid-19 situation, though it was scheduled to take place on February 12-15 in 2020. The participants in the expo are joining the fair in different categories including plastic household items, crockeries, packaging materials, plastic mould, toys items, pharmaceuticals items, plastic furniture, melamine items, garments accessories items, PP woven bag, automobile, electric and electronic items. Read more: Give plastic, get rice and other food items: Bidyanondo’s initiative for a waste-free St Martin’s Island The global market size of plastic goods is $570 billion where Bangladesh's share is 0.1 percent while the local manufacturers have set a target to increase it to 3 percent. They said the government has been providing a 10 percent cash incentive to the plastic sector to promote the export. Currently, about 5030 firms are involved in the plastic sector which now produce and market goods worth Tk 40,000 crore annually.

Romanian singer Otilia Brumă enthralled Dhaka audiences in her first-ever live concert in Bangladesh on Saturday, at the International Convention City Bashundhara (ICCB) in the capital. The Romanian pop singer performed marking the exclusive launching of the Nokia G21 at the event titled ‘Otilia Live in Dhaka,’ organized by Rendezvous Asia Private Limited. Internationally acclaimed for her worldwide hit track 'Bilionera,' Otilia kept the audience entertained for almost an hour by singing all her popular songs. During the interval of the concert, Nokia G21 was launched and the singer then continued enthralling the Dhaka audience with western style dance to the rhythm of her popular songs. Read: Batighar stages 'Radcliffe Line' at BSA “I want to tell you that I am very happy to come to Dhaka for the first time. I am impressed and touched by your love and passion for my music, and hopefully, there will be more to come,” Otilia said during the concert, admiring the crazy crowd. Earlier, the singer landed at the Hazrat Shahjalal International Airport on Friday. Addressing the fans and listeners, she wrote, “After 13 hours of flight I finally landed in Dhaka! I can't wait to meet you at the concert tomorrow.” On Sunday, she posted an image on her social media handles wearing a red saree as a tribute to the traditional Bengali culture, which is being lauded and adored by the netizens.She announced her visit to Dhaka on her Facebook page earlier this month.Released in 2014, Otilia’s globally popular track ‘Bilionera’ currently stands with over 560 million views on YouTube, making her internationally famous.  

The International Chamber of Commerce, Bangladesh (ICC,B) has said Bangladesh is already feeling the heat of the Russia-Ukraine war in many ways and if the war continues for a longer period, the impact will intensify. Three major economic challenges, all tied to one another, as observed by experts include a persistent higher rate of inflation, the upward trend of the foreign exchange rate, and a deepening liquidity crunch in the banking sector, it said. The country is feeling the impact through reduction in exports and rise in import bills. Being an oil-importing country, Bangladesh is already feeling the pressure through high import payments, the ICC,B report cautioned. It endorsed the recent recommendation by the Finance Ministry to avoid hard loans and discourage the import of luxury goods. Read: Edible oil prices likely to drop in Bangladesh in line with global market: Commerce Minister "This may reduce pressure on our declining foreign exchange reserves," said the leading chamber body on Saturday also endorsing recent austerity and regulatory measures taken by the government and Bangladesh Bank aimed at curbing non-essential imports, suspending the implementation of projects with high import components. ICCB President Mahbubur Rahman said they believe this will send a positive signal to the market and the economy as well as curbing inflation. He was presenting ICCB executive board report at its 27th annual council held in the city on Saturday. ICC,B also supports the demand of the businesses not to increase the power and gas rates, fuels prices as well reduce the corporate rate taxes during the upcoming budget as these will be helpful in containing the inflation, said its President. The report mentioned that over the last two years, the pandemic has played a major role in shaping the global economy. Many sectors have found themselves in difficulty and are still struggling and the countries dependent on those sectors are now quietly trying to get back up again. Despite the strong economic recovery in 2021, the financial difficulties are not over and may still cause economic slowdown. In addition, many countries are faced with an increasing debt burden, high inflation and burning issues at the moment, geopolitical tensions, which all play a major role. The global economy is poised to be sent on yet another unpredictable course by Russia-Ukraine war, said the ICC,B. This war is a major humanitarian crisis affecting millions of people and a severe economic shock of uncertain duration and magnitude, it said. The magnitude of the economic impact of the war is highly uncertain, and will depend in part on the duration of the war and the policy responses, but it is clear that the war will result in a substantial near-term drag on global growth and significantly stronger inflationary pressures, the report added. Read: Dealers, retailers betrayed me on edible oil price: Commerce Minister The report observed that the "Russian invasion" of Ukraine poses the most severe risk to developing Asia’s economic outlook. The war is already affecting economies in the region through sharp increases in prices for commodities such as oil and has heightened instability in global financial markets. COVID-19 continues to impact many parts of developing Asia, with some economies experiencing new surges in cases. Bangladesh’s journey of 50 years since its independence in 1971 has been tremendous and to many it is a ‘land of impossible attainment’. The dominant narrative of Bangladesh has been of an economic miracle, said ICC,B. The country's impressive scorecard is built on her success in terms of attaining a consistently high pace of economic growth and an impressive performance with regard to various development indicators, including those relating to the Millennium Development Goals (MDGs), ICCB President said. The success in economic growth has led to Bangladesh’s dual graduation-graduation from a Low-Income Country (LIC) to a Lower Middle-Income Country (LMIC) in 2015, according to the World Bank criterion and eligibility for graduation from the group of Least Developed Country (LDC) to Developing Country (DC) status in 2018, according to United Nations criteria, the report added. Mahbubur Rahman said according to the World Economic Forum, since its founding in 1971, Bangladesh has emerged from overwhelming poverty to be proclaimed by The World Bank in 2020 as 'a model for poverty reduction'. It achieved the highest cumulative GDP growth globally from 2010 to 2020 and is now on course to become a developed country by 2041. Bangladesh, like other countries, faces the daunting challenge of fully recovering from the COVID-19 pandemic which has constrained economic activities and reversed some of the gains achieved in the last decade, according to ICC,B. end/ff/ssk/2339  

In order to remain competitive and keep the economic growth steady after 2026, Bangladesh should focus on knowledge-based economy, mobilize both foreign and local resources and ensure congenial business environment, says a leading chamber on Wednesday. The economy of Bangladesh has fared quite well despite the impact of the Covid-19 pandemic, according to the editorial of the current News Bulletin (Jan-Mar’ 2022) of International Chamber of Commerce-Bangladesh (ICCB) released on Wednesday. It laid emphasis on ease of doing business, shift towards manufacturing high-value goods, seriously promote FDI and export-oriented industries, with the same incentive as has been provided to RMG and increase regional and global connectivity on a priority basis. "The country must make plans to turn the challenges into opportunities in the coming days; we believe, Bangladesh can do it, Inshah Allah," said the ICCB. Before the onset of the coronavirus, the economy was growing rapidly. In FY20 the growth became slower, however the economy recovered fast the following year and in FY 21 GDP growth was 6.9 percent, which is very high compared to comparable developing economies. Today, ICCB said, Bangladesh is one of the fastest growing economies in the world. "For all this, our farmers as well as industrial output have played a key role despite all odds." Bangladesh’s journey of 50 years since its independence in 1971 has been "tremendous" and to many it is a ‘land of impossible attainment’. The dominant narrative of Bangladesh has been of an economic miracle, ICCB says. Countries impressive score card is built on her success in terms of attaining a consistency, high pace of economic growth and an impressive performance with regard to various development indicators, including those relating to the Millennium Development Goals (MDGs). The success in economic growth has led to Bangladesh’s dual graduation-graduation from a Low-Income Country to a Lower Middle-Income Country and eligibility for graduation from the group of Least Developed Countries (LDC) to a Developing Country. UN General Assembly adopted the resolution on Graduation of Bangladesh to Middle Income Country in 2026. This is a landmark achievement in Bangladesh’s development journey. Graduation from the LDC group essentially means acquiring a seal of global approval for development achievements, which will brighten Bangladesh's image in the world court, according to the ICCB. READ: Bangladesh needs 34,000 MW of electricity by 2030 to sustain its growth: ICCB Graduating to the developing countries group is the fruit of Bangladesh's judicious macro-economic management and planned investment for infrastructural and human resource development, it said. However, the chamber says, investment for mega projects government must take adequate care for additional expenses and timely implementation; our experience, however, seems otherwise; including the most prestigious ‘Padma Bridge’! Various Research institutions and experienced economists citing post-graduation challenges, apprehend serious hurdles on its elevation, if Bangladesh fails to devise smooth transition strategies for confronting the challenges posed by this transition, it said. As graduation will affect certain preferential treatment and domestic infant industries, Bangladesh has to handle this prudently to make the transition sustainable. The most common economic challenges that every LDC graduate faces, is the loss of LDC-specific international support measures. "The decline of existing privileges and preferences- may adversely hit the exports of Bangladesh, since the country relies heavily on the RMG sector, which has been bringing in more than 80 percent of the country's export earnings for the last several decades," said ICCB. To avoid these consequences, it said, the country should diversify its export basket by promoting the export of new products such as pharmaceuticals, plastic products, leather goods, handicrafts, agro-products, fish and frozen foods etc. Besides, the chamber said, the government should analyse the markets in different regions, such as Latin America, the Middle East, South & Far East Asian Region and formulate strategies for penetrating those markets as part of diversifying export destinations. Bangladesh should also join different regional trade blocs and signing of FTA with potential individual countries will also help in reducing the probable negative impact of graduation on the balance of trade, according to ICCB.

International Chamber of Commerce, Bangladesh (ICCB) President Mahbubur Rahman has attended the 12th World Chambers Congress of the ICC held in Dubai recently. Matiur Rahman, Chairman & Managing Director, Uttara Group of Companies; Ataur Rahman, Secretary General, ICC Bangladesh; Anwar-Ul-Alam Chowdhury (Parvez), Managing Director, Evince Group; Mir Nasir Hossain, Managing Director, Mir Akhter Hossain Limited; Mohammad Hatem, Managing Director, MB Knit Fashion Ltd. and Abdul Hai Sarker, Chairman, Purbani Group also joined, said a media release on Sunday.

International Chamber of Commerce-Bangladesh (ICCB) has said the success of businesses can drive the growth of a country, help achieve overall sustainable development and create employment opportunities.  “Businesses are the driving force for any economy, be it capitalistic or socialistic,” according to the editorial of the current News Bulletin (July-Sept’ 2021) of the ICCB released on Sunday. ICC Bangladesh remembered with gratitude the legendry businesspeople, including those who have passed away, for their visionary leadership and farsightedness in creating corporate culture and making the Bangladesh economy one of the fastest growing in the world.    Entrepreneurs are frequently thought of as national assets to be cultivated, motivated and remunerated to the greatest possible extent.  “They’ve the ability to change the way we live and work at local, national and international levels,” said the ICCB editorial. READ: ICCB seeks climate change mitigation, role of private sector Over the past five decades, Bangladesh has transformed itself from being a "basket case" to one of the fastest growing economies in the world. Before the onset of the Covid-19, the economy was growing rapidly, recording an annual expansion in the range of 7- 8% for sometimes, ICCB observed. After the partition of India and Pakistan in 1947, then East Pakistan, now Bangladesh, was not an ideal place for Bangladeshi entrepreneurs to do business or establish industries as the West Pakistanis (now Pakistan) were in complete control of the country and the economy.  “Bangladeshis were mainly in the mid- and lower-level service.  However, some of our leading businessmen have made it possible to show the world that Bangladeshis are capable of becoming successful entrepreneurs,” the editorial reads. Late Abul Kasem Khan from Chattogram, a district judge in 1934, was probably the first Bangladeshi to enter business leaving a job, ICCB said, adding that he established various types of industries and formed AK Khan Group in 1945 and there were only a few business entities owned by local entrepreneurs during the British era.  Of them, the oldest was the family trading business of Late Anwar Hossain (since 1834) and Founding Chairman of Transcom Group Late Latifur Rahman’s family (having a tea estate since 1885), the editorial reads. Since 1947 till the independence of Bangladesh in 1971, only a few small industries, tea gardens and two commercial banks and a small number of jute and textile mills were owned by Bangladeshis. After independence all industries, banks and big commercial entities were nationalized, according to ICCB. However, the change in government policies in mid-70s for adopting privatisation, export liberalisation and import-substitution created the opportunity for enthusiastic businessmen to begin their entrepreneurial journey. READ: Bangladesh made spectacular economic progress despite limited resources: ICCB ICCB President and Chairman and CEO of ETBL Holdings Mahbubur Rahman along with Transcom Group Chairman Latifur Rahman, Square Group Chairman Samson H. Chowhdury, Anwar Group Chairman Anwar Hossain, Apex Group Chairman Syed Manzur Elahi and a few other business leaders contributed towards the change in policy decision of the government; for privatisation.     In less than 40 years, the garment industry of the country has emerged as one of the nation's success stories in recent decades, ICCB said. It is the second-largest RMG exporter globally earning over $35 billion a year from exports. A number of pharmaceutical companies have also started exporting medicines to 119 developed and developing countries.  The country also exports leather products, handicrafts, agro-products, ocean-going vessels and software, among others. The total yearly export earning was US$ 38.76b in FY21. The private sector is responsible for 90 percent of jobs in the developing world.  In Bangladesh, the “private sector which already accounts for more than 70 percent of all investment, supported by a strong financial sector, will need to play an important role in spurring the recovery so the country can grow, export and create quality jobs,” according to Alfonso Garcia Mora, IFC's vice president for Asia and Pacific.   The businesses played the leading role in achieving the success, says the editorial.

The world’s most vulnerable populations are facing ever-increasing risks, food insecurity and have fewer chances to break out of poverty and build better lives with global temperatures rising, says ICCB. Their challenges also include changing weather patterns, sea-level rise, increases in droughts and floods, according to the International Chamber of Commerce, Bangladesh (ICCB). While involvement of multinational corporations and major international business groups in international climate action efforts have grown substantially, they are still an incomplete picture of what the broader business community, including MSMEs is capable of contributing at national and global levels, says ICCB in its quarterly news bulletin (April-June’21) published on Monday. While the International Chamber of Commerce, the world business organization welcomes announcements at the U.S. Leaders’ Climate Summit and G7 meetings of increased pledges for climate change mitigation and finance, these pledges do not yet place the world on track to achieve committed UN Climate Change Conference (UNFCCC) Paris Agreement actions, says the ICCB. According to Climate Action Tracker, the sum of all the targets submitted so far would limit global warming to an estimated 2.4°C by century’s end. This is still short of limiting global temperature rise by 2°C – ideally 1.5°C – by the end of the century as per the Paris Agreement, according to the ICCB. More than a decade ago, developed countries committed to jointly mobilizing $100 billion per year by 2020 in support of climate action in developing countries. But, according to the UN, the $100bn target is not being met (the latest available data for 2018 is $79bn), even though climate finance is on an “upward trajectory.” So, there is still a big gap in finance. The annual $100bn commitment, “is a floor and not a ceiling” for climate finance, according to the UN. The UN Environment Programme (UNEP) estimates that adaptation costs alone faced by just developing countries will be between $140 billion to $300 billion per year by 2030, and $280 billion to $500 billion annually by 2050. “This troubling gap should give the international community impetus to consider how to unleash and engage further action both now and over the longer term across society. In the run-up to the next, UNFCCC COP26 in Glasgow, and over the course of the Paris Agreement five-year review cycle, governments have the unique opportunity to widen the circle of implementation for inclusive ambition, with a particular focus on countries’ Nationally Determined Contributions (NDCs) as a vehicle,” the ICCB says. ICC – representing more than 45 million companies in over 100 countries and in its roles as Permanent Observer to the UN General Assembly and official UNFCCC Focal Point for Business and Industry – believes that UNFCCC and Paris Agreement Parties should revisit the scope and implementation of their climate policy strategies to assess how to enhance involvement of businesses of every sector, size and jurisdiction, in particular in NDC development, implementation and tracking at both national and international levels. The pandemic and its disruptive impact on societies, economies and businesses have compounded the difficulty of developing and delivering on NDCs, which makes it even more important to design practical and inclusive NDCs, said the ICCB. Overcoming these challenges will require mobilization and agreement to commit to redoubled efforts across society and in particular from governments and business, it said. MSMEs are the foundation of the global economic system– they make up 90% of businesses worldwide, comprise an estimated 80 percent of employment in many countries, and collectively employ two billion people. “Yet, they are not a dominant voice and presence in the UNFCCC process,” says the ICCB. It is suggested, governments to encourage MSMEs to take on appropriate climate mitigation and adaptation measures; develop good practices that are flexible to innovation across NDCs, in particular for MSMEs tackling the social and economic impacts of the pandemic and create a dedicated and recognized space inside the UNFCCC for enhanced consultation and dialogue with business and employers, inclusive of MSMEs. This private sector platform could also provide for practical and realistic dialogue on converging climate and recovery agendas, according to the ICCB.

AK Azad has been elected vice president of the International Chamber of Commerce, Bangladesh (ICCB) Executive Board during its recent meeting.