CA assures full support in expanding legitimate commercial activities, export

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Chief Adviser (CA) Dr Fakhruddin Ahmed Sunday reaffirmed the present government's all out support and priority-based cooperation in expanding the competitive and legitimate commercial activities in the country and increasing export, reports UNB.
"The trend of international market is now globalisation-oriented. Foreign trade is now more competitive as well as knowledge and policy guidelines-based than any time in the past. We'll have to turn this challenge into opportunity through pragmatic strategy and combined efforts," he said.
The head of the caretaker government was addressing the inaugural function of the 3-day third Bangladesh Knitwear Exhibition 2007 at Hotel Sheraton, organised by Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).
Dr Fakhruddin said, partnership and combined efforts of the government and private sectors would have to be further strengthened in the future in the country's journey towards development.
He said, the government has been implementing various measures to expand export with different guidelines in the country's export policy for increasing export markets.
In the export policy, highest priority has been given to IT, software, agriculture and agro-products, light engineering, leather products, pharmaceutical industry, and higher value added RMG for diversification of products by reducing dependency on limited number of goods.
The CA said, the government is continuing its efforts to create more international market for the Bangladeshi products. If SAFTA is completely executed, there is possibility of manifold increase of inter-trade among the South Asian countries.
Discussions are going on for duty-free access of the Bangladeshi products in Russia, Malaysia, and ASEAN as well as the neighboring countries, he told the function.
Presently, the Bangladeshi products have duty-free access in the markets of the European Union (EU), Canada, Australia and Norway.
Dr Fakhruddin further informed that the government effort is on for the passage of a bill - "The New Partnership for Development Act 2007" - already placed in the US Congress for duty-free access. If the bill is approved, Bangladeshi RMG export would increase rapidly in the US market, he said.
He also mentioned some steps of the government in accelerating trade and business. These include formation of Bangladesh Better Business Forum and Regulatory Reforms Commission, steps for increasing power supply, improvement of management of Chittagong sea-port and reform in economic sectors, he said, adding that these are bringing positive results.
A little anxiety remains among the businessmen, as quota or limitation of the US and the EU on China will be lifted after 2008 for the protection of their local industries, he said. On the other hand, against the backdrop of increasing prices of commodities, it is also essential to ensure minimum wages of the workers, he said.
He added that on overall consideration, productivity of the export-oriented industries would have to be increased, and implementation of compliance to be ensured to sustain the rate of export.
He, however, expressed satisfaction to know that maximum factories under BKMEA have implemented minimum wages for their workers, and also requested others to do it immediately.
Finance and Commerce Adviser Dr Mirza Azizul Islam, Power and Energy Adviser Tapan Chowdhury and BKMEA President Fazlul Huq also spoke at the function.
Later, the CA formally inaugurated the knitwear exposition, and went round some stalls.