BGCCI suggests long-term sector-wise industrial policy

The leaders of Bangladesh-German Chamber of Commerce and Industry (BGCCI) have requested the government to formulate a long-term sector-wise industrial policy for further facilitating industrialisation in the country and betterment of the people.

The trade-body made the request during a meeting with Industries Minister Nurul Majid Mahmud Humayun at his office in the city on Monday.

"We've urged the minister to formulate an industrial policy for 50 years to help flourish leather, pharmaceuticals, electronics and other potential sectors along with garment sector," BGCCI President Omar Sadat told the FE after the meeting.

He noted that many developed countries have long-term industrial policies. "We need a long-term industrial policy in order to become a developed nation."

If there is a long-term sector-wise industrial policy, it will help generate more employment and promote economic growth further, he added.

BGCCI will soon put forward their detailed proposals to the Ministry of Industries to help frame a long-term industrial policy.

The industries minister said the government is working to improve people's life standard by creating more employments through rapid industrialisation.

He said the present government in its electoral manifesto promised to ensure balanced development between towns and villages across the country.

Germany is one of the biggest trade partners of Bangladesh. The volume of bilateral trade between the countries is around US$ 6.7 billion annually.

BGCCI senior vice-president Golam Morshed, vice-president Md Moin Uddin Majumder, director Md Anwar Shahid, and executive director M A Matin were present the meeting, among others.

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