ICCB confce to herald a new era through brainstorming sessions

The International Chamber of Commerce-Bangladesh (ICC-B) hopes the ensuing international conference will create a new platform of thoughts combining 'provocative and interesting minds' with core people from the global businesses.

"We hope the two-day long conference will herald a new beginning of global trade and businesses through brainstorming sessions as geopolitical risks have introduced an additional element of uncertainty to our forecast. Civil conflicts and territorial disputes in the Middle East, Asia and Eastern Europe could provoke higher energy prices and disrupt trade flows if they escalate," ICCB president Mahbubur Rahman told The FE in an interview.

President Abdul Hamid will formally open the two-day conference titled 'Global Economic Recovery- Asian Perspective' tomorrow (Saturday) which will be attended by around 500 local and foreign dignitaries.

He said the ensuing conference will be a learning tool for Bangladesh policymakers and development activists as it brings together expertise from home and abroad and provides a platform for discussion on economic recovery and sustainable growth, from the vantage point in Asia. It is also an expression of the private sector's willingness and commitment to work hand-in-hand with the Government to overcome all challenges.

ICCB is also celebrating its 20th year of presence in Bangladesh with this high-profile event, fifth in a row, arranged by Bangladesh National Committee of International Chamber of Commerce (ICC), the world business organisation. The ICCB earlier arranged four such events in 2000, 2004, 2005 and 2010.

The then global business leaders including Director General of World Trade Organisation (WTO) and EU Commissioner for Trade had visited Dhaka to attend the ICCB conferences in 2000 and 2004.

"Bangladesh has set an ambitious goal for itself - to become a middle income country by 2021. Observing the successes of several countries in Asia during the last few decades, this is an achievable goal. However, we should also recognise the challenges. Perhaps, most importantly, we need to increase investment, improve macro-economic governance and tackle energy and infrastructure deficits. The pivotal position of the Government, and a committed political leadership, is now recognised," the ICC-B president said.

The Conference will focus on four sessions like Global Economic Recovery Contemporary Reality; Asian Growth: Realities & Challenges; Trade: Does the Bali Outcome Hold Promise for the Future?; and Promoting Investment in Asia.  

 The foreign dignitaries to attend the event include UNCTAD Secretary General, Dr. Mukhisa Kituyi, ICC Research Foundation & Fung Group Chairman Mr. Victor K. Fung, Mr. Binod K. Chaudhary, President, Chaudhary Group of Nepal, ICC Secretary General Mr. John Danilovich and ICC Vice Chairman Mr. Sunil Bharti Mittal.

"Our economic model emphasizes the role of the private sector. Over the last two decades, this very private sector has made a major contribution to achieving and maintaining the GDP growth rate of over 6.0 per cent. However, Bangladesh requires at least 8.0 per cent growth to become a middle income country. And, this is possible only if the investment-GDP ratio is maintained at 30 per cent. Furthermore, a major portion of this investment should be directed at those sectors that contribute most to others, such as infrastructure, energy, etc," Mr. Mahbubur Rahman said.

The co-organisers of the event include, FBCCI, DCCI, MCCI, CCCI, FICCI, BGMEA, BKMEA, BIA, ICAB and NCCI.  Premium Partners: Islami Bank Bangladesh Limited (IBBL) and Standard Chartered while the sponsors are AK Khan Group, Dutch Bangla Bank, Hameem Group, KAFCO, Square Pharmaceuticals, Transcom and Youngone Corporation.

 The co-sponsors are AB Bank, Eastland Insurance, Envoy Textile Ltd., East Coast group, Green Delta Insurance Ltd., Mir Akhter Hossain Ltd., National Housing, NAVANA, Prime Bank, Pragati Insurance Ltd., Rupali Insurance, Sadharan Bima Corporation, Singer Bangladesh and The Merchants Ltd.

 The supporters are Abdul Monem Ltd., Berger, Bank Alfalah, Duncan Brothers, Evince Group, IIDFC, Incepta Pharmaceuticals, Mobil, Reliance Insurance and Summit Alliance.

 Bangladesh National Committee of ICC, established in 1994, is comprised of major Chambers of Commerce & Industry, Business Associations, Stock Exchange, Banks, Non-banking Financial Institutions, Insurance Companies, Trans-national companies, Law & Accounting Firms and large Corporate Houses having significant interest in international trade.