Businesses want quick improvement of trade environment by forming interim govt

Amid concerns over the business environment due to the political upheaval in the country, the business community has called for ensuring a friendly environment for trade and commerce through forming an interim government promptly to improve overall economic situation.

They have also underscored the need for sitting with sector-based business leaders to improve exports as the anti-discrimination movement hit the country’s economy hard.

Talking to the Daily Sun, former president of Federation of Bangladesh Chambers of Commerce and Industry (FBCC) Mir Nasir Hossain said they were concerned over the country’s situation due to curfew, frequent internet blackouts and factory shutdowns for the last several weeks.

“Now, we need a quick improvement of the business situation. First, we must ensure a peaceful

 environment for all. We have to improve our economic situation to take the country ahead. We have to work on different issues, particularly on tackling inflation, dollar crisis, improvement of reserve, and exports. So, an interim government should be formed as soon as possible,” he said. 

Nasir, also the managing director of Mir Akhter Hossain Ltd, said the new government must focus on strengthening the macroeconomic foundation. Besides, gas and electricity problems in industries must be resolved and the law enforcement situation has to be improved quickly.

“The students made a revolution, so they should be prioritised in any dialogue to improve the country’s overall situation. The worries we had for the last few weeks lightened considerably today,” he said.

According to the Bengal Group Vice-chairman Md Jashim Uddin, now Bangladesh needs to focus on resolving the problems which plague the industries – particularly the gas and dollar crisis.

“The country needs to focus on strengthening regional trade to boost businesses, as well as the economy. To attract more foreign direct investment (FDI) to the country, a stable policy is very important,” he told the Daily Sun.

Md Jashim Uddin, also the president of the SAARC Chamber of Commerce and Industry, said Bangladesh should expand its export items to earn more currencies to boost the country’s economy. The country can sign some tripartite agreements like the Bangladesh-India-Nepal agreement, enabling Nepal to import their products using Bangladeshi ports. Bangladesh can also trade with Nepal using India’s land. Such negotiations must be done during agreement.

BGMEA calls on members to keep factories closed on Tuesday

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Mohiuddin Rubel too has sought a business-friendly environment as any concerning situation hits exports.

vHe also said in view of the overall situation, the garment owners were requested to keep all the garment factories across the country closed today too.

“The next decision will be announced tomorrow,” he added.