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34th CACCI confce discusses global economic disruptions

Published : Tuesday, 3 November, 2020 at 12:00 AM  Count : 120
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Speakers exchanged views on current trends, challenges, and uncertainties in the global market and geopolitical landscape, as well as the role of governments and businesses in mitigating global disruptions on the economy and business operations on the 34th CACCI Conference on Friday.
The CACCI (The Confederation of Asia-Pacific Chambers of Commerce and Industry) conference held virtually with the theme 'Achieving Sustainable Growth in a Turbulent and Disruptive Global Market'.
Federation of Indian Chambers of Commerce and Industry (FICCI) President Dr. Sangita Reddy, CACCI President Samir Modi, NITI Aayog Vice Chairman Dr. Rajiv Kumar, Asian Development Bank Macroeconomic Research Division Director Abdul Abiad, Australian National University Analyst Dr. Andrew Stoeckel participated at the conference, moderated by FICCI Secretary General Dilip Chenoy.
Additionally Federation of Bangladesh Chambers of Commerce and Industry President Sheikh Fazle Fahim and the Vice President of CACCI alongside other chamber member panelists and FBCCI counterparts of Australia, Iran, Pakistan, Russia, Turkey were also present.
Commemorating the 100th birth anniversary of the Father of the nation and highlighting Bangladesh's 50 year milestone in 2021, the President of FBCCI said: "Bangabandhu's legacy is a remarkable example of leadership and tenacity in the face of adversity, and today's occasion resonates with him, as well as the sustainability and recovery efforts of the government of Bangladesh and the FBCCI."
During the conference, Fahim underlined the Bangladesh government's key economic interventions entailing Prime Minister Sheikh Hasina's comprehensive financial stimulus packages of $12.1 billion, and laid out FBCCI's exhaustive engagements since February 2020 in non-fiscal and fiscal policy support for MSMEs to the largest enterprises; in terms of tariff and tax intervention in national budget, as well as other philanthropic and socio-economic initiatives that supplemented government initiatives.
The President of FICCI said: "Geopolitical environment shifts and disruption in the supply chain has exposed us to the extensive change that is happening all around the world.
"But this is an opportunity to indulge in hope, opportunities, growth and collaboration in building a multilateral environment friendly sustainable economy.
"Effective collaboration between the government and private sector along with our strategic partners can help us to evolve a collective vision to recover from this unprecedented pandemic."
Dr. Rajiv Kumar in his keynote speech said: "It is important for us as we go forward to build platforms and bring entrepreneurs from the entire region together which will help us to achieve more sustainable and inclusive growth in the post COVID world.
"We need to redefine the whole game of Capitalism and integrate regional cooperation and technology transfer, not just for a future pandemic but other trend shifts that potentially can impact livelihoods and lives."

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