Need for maintaining business ethics stressed

Businessmen at a workshop Wednesday in the capital underlined the need to follow ethics so that the business could flourish in the country free from corruption. They were of the opinions that joint efforts are needed to abide by ethics to improve business climate which will bring about a strong and positive impact on improving the trade, commerce and investment in Bangladesh. Their observations came at the advocacy workshop on "Business Ethics" at a local hotel in the capital. The purpose of the workshop is to highlight the role of the private sector in reducing corruption by promoting ethical conduct. The International Business Forum of Bangladesh (IBFB) organised the function with its president and former mayor of Chittagong City Coroporation (CCC) Mahmudul Islam Chowdhury in the chair. Commerce Minister Muhammad Faruq Khan was present as the chief guest. Eminent lawyer Dr Kamal Hossain and FBCCI President AK Azad were present as the guest of honour and special guest respectively. Director of International Business Administration (IBA) of Dhaka University (DU) Prof GM Chowdhury, former director of the same faculty Prof Iftekhar Ghani Chowdhury and Executive Director of IBFB Dr AFM Matiur Rahman, among others, were present. The speakers said corruption was hindering economic growth of the country and undermining competitiveness in the local as well as in the international markets. They also said misuse of available resources and lack of confidence in the political system also undermining the investment climate, and thus depriving the government of huge amount of revenue earnings every year.