FBCCI
Expanding trade in non-conventional markets important: FBCCI President
FBCCI President Md. Jashim Uddin said that it is essential to strengthen commercial activities in order to expand trade in non-conventional markets.
Md. Jashim Uddin said this during a courtesy meeting with the newly appointed ambassador of Bangladesh to Libya Major General Abul Hasnat Mohammad Khairul Bashar on Wednesday at the FBCCI Icon.
FBCCI President said Bangladesh is still lagging behind in expanding trade to other regions of the world outside the conventional markets of Europe and America.
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"Initiatives should be taken to capture non-conventional markets like the Middle East, Africa, and Asia," he said.
"The global geopolitical context has opened a new door of opportunity for Bangladesh as buyers are moving away from single-market dependence," he added.
The FBCCI president said Bangladesh should increase its efficiency in marketing strategy to utilize this potential.
Highlighting the potential sectors of the country, Md. Jashim Uddin said that the processed food industry is expanding rapidly.
Also Read: Working to reduce gender inequality in workplace: FBCCI
"Besides this, Pharmaceuticals, electronic products, light engineering, leather and leather goods, ceramics, and plastic products have huge potential," he said.He urged the ambassador of Bangladesh to Libya to take initiatives in expanding the market of these products in Libya.
Ambassador Major General Abul Hasnat Mohammad Khairul Bashar said, "The security situation in Libya is gradually improving. So there is scope for Bangladesh to work again with Libya in several sectors."
The embassy will work on exporting skilled manpower to Libya, he added.
FBCCI Vice President Md. Habib Ullah Dawn, Secretary General Mohammad Mahfuzul Hoque, Ambassador Mosud Mannan, and others were present at the meeting.
FBCCI announces Tk 1 crore for rehabilitation of traders affected by Bangabazar fire
Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has announced Tk 1 crore donation for the rehabilitation of traders affected by recent fire at Bangabazar Market.
FBCCI President Md Jashim Uddin made the announcement while visiting Bangabazar area this afternoon.
Also read: Bangabazar businessmen disagreed on future plans for the site
He also urged all in the country's business sector to come forward and stand beside the traders and shop owners affected by the fire that burned down Bangabazar Market.
Find ways to bring commodity prices to a normal level: PM tells business leaders
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.
Read More: If people don’t buy in excess, there will be no price hike of essentials ahead of Ramadan: Tipu Munshi
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.
Read more: 'Business Summit to help brand Bangladesh's identity, manufacturing prowess to foreign investors'
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.
Read more: PM to inaugurate Bangladesh Business Summit on Saturday
Former FBCCI Vice President Abu Alam Chowdhury passes away
Former Vice President of Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) Abu Alam Chowdhury died at a hospital in the capital on Monday. He was 75.
The eminent businessman breathed his last around 11 pm.
Namaz-e-Janaza of the deceased will be held on Wednesday at Nikunj-1 Jame Masjid after Zohar prayers.
FBCCI President Md. Jashim Uddin has expressed profound shock and sorrow at the death of Abu Alam.
In a condolence message, Jashim Uddin said the FBCCI will always remember his contributions to the business community.
The FBCCI President prayed for eternal peace of the departed soul and conveyed deep sympathy to the bereaved family.
Alam was born on 30th September ,1948 in a respectable Muslim family in Chittagong district.
He did his Masters in Political Science from the University of Chittagong.
He played a commendable role in the great 69 movements against the Pakistani rulers, said the FBCCI.
During his studentship at Chittagong University, Alam was elected as cultural secretary and later served as general secretary of Chittagong University Central Students Union (CUCSU) and participated in the Liberation War of Bangladesh.
After completing his education, he started his business career in the media sector.
Chowdhury served as Vice-President of FBCCI and Director for 6 terms covering 12 years in the apex trade body .
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He also served as Vice-President of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) from 2008-2010.
He was a founding member of the Daily Financial Express, a member of the International Chamber of Commerce (ICC) Bangladesh, and a former EC member of the SAARC Chamber of Commerce & Industry.
Bangladesh Business Summit, 2023 to be held in Dhaka in March
Bangladesh Business Summit, 2023 will be held in Dhaka in March, aiming to attract global investment in the country.
The Business Summit-2023 will be held at Bangabandhu International Conference Centre on March 11–13.
The government will organize the event in cooperation with FBCCI, marking 50 years of the apex trade body.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in a press conference in a city hotel on Saturday disclosed the details of the event.
Speaking at the press conference FBCCI President Md Jasim Uddin said the federation currently has 412 product-based trade organizations, 87 chambers at district and metropolitan levels, 18 chambers for women entrepreneurship and 20 bilateral chambers.
"Our economy was $90 billion in 2008, which is $470 billion today. We are going to organize a three-day Bangladesh Business Summit from March 11 to 13 to accelerate the country's economic progress," he added.
He said three plenary sessions, 13 parallel sessions, open discussions etc. will be organized with traders, investors, analysts and policy makers to find out the country's trade and investment opportunities, obstacles and ways to overcome.
Jasim Uddin said ministers from 12 to 15 countries will participate in this international conference.
Besides, representatives of large companies from different countries of the world will also participate.
The FBCCI President said the best of Bangladesh Expo will be organized along with the Business Summit. The potential sectors of the country including itextiles, agro-processed food, leather, ceramics, jute will be presented to the foreign investors in this exhibition.
Jasim said Bangladesh Business Excellence Award will be given to entrepreneurs for their special contribution to the development of the country's economy and trade.
A special jury board consisting of economists, journalists and businessmen has been formed for this special award.
Business Eswatini for signing MoU with FBCCI
State Minister for Foreign Affairs Md Shahriar Alam, who is on a two-day bilateral visit to Eswatini, the southern African country formerly known as Swaziland, had a meeting with Business Eswatini representatives in Mbabane Tuesday.
Business Eswatini is the federation of chambers of commerce and industry of Eswatini as well as the federation of the employers association of Eswatini – a bit like Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Employers Federation rolled into one.
The apex chamber represents agriculture, textiles, mining, financial services and other business bodies.
The Bangladesh state minister urged Business Eswatini to develop relations with their Bangladeshi counterparts.
Citing Bangladesh as a very suitable destination for business and investment, Alam mentioned the growing purchasing power of Bangladeshi consumers as well as the rapidly growing middle class in the country.
He referred to the various industries like textiles, pharmaceuticals and other sectors where cooperation may be forged.
Both sides recognised the role of business women in the economic sectors and agreed to establish exchanges between women entrepreneurs.
The CEO of Business Eswatini, Nathi Dlamini, invited Bangladeshi businessmen to do business as well as to invest in Eswatini, saying the country is a stable one with a skilled labour force.
He also presented a draft MoU to the Bangladesh side for consideration of the FBCCI.
Also, the chamber suggested establishing joint ventures between Bangladesh and Eswatini entrepreneurs.
Read more: FBCCI to host Bangladesh Business Summit 2023 from March 11 to 13
FBCCI partners with Brazilian counterpart to boost trade
A Memorandum of understanding (MoU) has been inked between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Brazilian Trade and Investment Promotion Agency (APEXBRASIL) at the headquarters of ApexBrasil in Brazil recently to boost bilateral trade relations.
FBCCI President Md Jashim Uddin and ApexBrasil Business Director Ana Paula Repezza inked the pact on behalf of their respective organisations, according to an FBCCI press release signed by Tanzid Basunia, head of Public Relations and Communications of the business organisation.
Bangladesh and Brazil will work together for the further expansion of bilateral trade relations while the both sides will also support the industries under joint venture and joint collaboration.
As per the deal, the FBCCI and ApexBrasil will exchange information about the economic development of the countries to usher possibilities for increasing trade and for the expansion of economic and industrial cooperation among the enterprises and organisations.
The organisations will cooperate in the sharing of best practices, information, knowledge, methodologies, and expertise on trade promotion and investment attraction.
Read more: Bangladesh seeks Brazilian investment in energy, infrastructure, ICT sectors
Apart from this, they will share ideas and experiences in relation to supporting and facilitating the exchange between Small and Medium Enterprises (SMEs), startups, incubation centers, research institutes, investors and other relevant stakeholders of both the countries.
The countries will assist and facilitate visits of trade and economic delegations to the other countries and will render maximum cooperation for establishing business contacts.
FBCCI to host Bangladesh Business Summit 2023 from March 11 to 13
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will host the Bangladesh Business Summit 2023 in March on the occasion of its 50th anniversary.
The Summit, scheduled for March 11-13, will promote trade and investment promotion.
Read more: Regaining customer trust a must to boost insurance sector's growth: FBCCI
The summit, envisaged to become Bangladesh's flagship business event, seeks to highlight the country's economic and market strengths, and trade and investment opportunities here by convening national and global business leaders, investors, policymakers, practitioners, policy and market analysts, academia, and innovators.
The Bangladesh Business Summit will also host the best of Bangladesh Expo and FBCCI Business Awards 2023.
There will be three plenary sessions on strategic issues, 13 parallel technical sessions, B2B meets, networking sessions, an open house reception and guided tours for international delegates.
The Ministry of Foreign Affairs, Ministry of Commerce and Bangladesh Investment Development Authority are also working with the FBCCI for the summit.
Read more: FBCCI for building skilled workforce for achieving SDGs
Speaking as the chief guest at the briefing and networking luncheon event Thursday, Foreign Minister AK Abdul Momen said: "The Bangladesh Business Summit is a very timely initiative in the backdrop of the Covid-19 wave, Russia-Ukraine war and the desperately disrupted global economy and supply chain."
FBCCI President Md Jashim Uddin said that the country is now moving forward with a new vision.
"A cost-effective, sustainable, intelligent, knowledge-based, innovative Smart Bangladesh will be built on the four main foundations – Smart Citizen, Smart Economy, Smart Government and Smart Society – by 2041," he added.
Regaining customer trust a must to boost insurance sector's growth: FBCCI
The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) has said regaining customer trust is a must for the insurance sector to boost its growth.
At a meeting of its standing committee on insurance Thursday in the capital, FBCCI President Md Jashim Uddin said: "Insurance is one of the important sectors of the country's economy. However, a big challenge for this sector is a lack of confidence in it."
"We have to find a way out of this situation. All the stakeholders of this sector should play an active role to change customers' negative perceptions of it," he added.
"Also, we have not been able to use the potential of this sector; there is no alternative to developing a skilled workforce for future growth of the sector," the FBCCI president said.
FBCCI Vice-President MA Momen said, "It is very important now to go for the modernisation of the insurance sector as the time has changed."
Mohammad Mahfuzul Hoque, secretary general of FBCCI and former managing director of Life Insurance Corporation, said it is important to have actuaries for the development of the insurance sector. "If the sector comes under automation, many of the existing problems will be solved."
Read more: Experts for inclusive insurance, risk financing for all
FBCCI for building skilled workforce for achieving SDGs
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has called for building a skilled workforce to achieve the Sustainable Development Goals (SDGs).
Importance should be given to setting up technical and vocational training centres in every district and upazila along with conventional educational institutions, it said.
FBCCI made the call during the second meeting of its Standing Committee on National Economic Policy and Planning, 8th Five Year Plan, SDGs, and Vision 2041 in Dhaka Thursday.
FBCCI Senior Vice-President Mostofa Azad Chowdhury Babu said: "There is no alternative to building a skilled workforce to further accelerate our efforts to achieve the SDGs.
Dhaka Chamber of Commerce and Industry President Sameer Sattar said foreign investment is very important in achieving the SDGs.
Also, he emphasised increasing foreign investments, building a skilled manpower, and developing non-conventional sectors.
Read more: Public-private partnership key to SDGs financing: Tazul