FBCCI wants more FTAs, PTAs with different states to boost post LDC trade

Country's apex businessmen urged the government to ink more Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) with various countries and regional organizations to boost post LDC exports. The business leaders made this call at the second meeting of the Standing Committee on International Affairs, International Trade Bodies, Development Partners and Strategic Partners at FBCCI head office in the city on Monday, said a press release.

The release said Bangladesh will face several challenges in international market after the LDC graduation in 2026. While speaking as chief guest, FBCCI Vice President M. A. Momen said, "We have to prepare for LDC graduation from now on. Businessmen and Entrepreneurs from different sectors should come forward. We are organizing the Bangladesh Business Summit next March to highlight the promising sectors of Bangladesh to foreign investors".

He also said the FBCCI is working tirelessly to achieve the goal of economic prosperity and growth. FBCCI Vice President Md. Amin Helaly said, "We're on the verge of LDC graduation, so we need to start working from now on to tackle the challenges. Discipline in Trade is more crucial at this stage. FBCCI is working closely with the government and other stakeholders to address the issues discussed in the standing committee and help the authority to implement the policy".
 
He said the trade body is working together with the Ministry of Foreign Affairs and the Ministry of Commerce to increase trade and international investment. The speakers emphasized signing free trade agreements with various countries and international organizations like World Trade Organization- WTO and UNCTAD to strengthen Bangladesh's position in global trade.
 
Committee director in-charge Syed Moazzem Hossain said, a seminar on FTA and PTA will be organized by FBCCI soon. Cooperation and coordination with foreign business bodies and investors are crucial as the country is heading towards LDC graduation, he added. The meeting was presided over by chairman of the committee and former FBCCI director Md. Shafquat Haider. Bangladesh needs to focus on developing bilateral agreements and relations to expand foreign trade.

FBCCI Director Hasina Newaaz, Dr. Nadia Binte Amin, Abu Hossain Bhuiyan Ranu, former Director Khandaker Ruhul Amin, Mahbub Alam, Mohammad Khokon, General Secretary Mohammad Mahfuzul Haque and Head of the International Division of FBCCI and former Ambassador Masud Mannan, among others, were present in the program.