Muhith for increased intra-regional trade
Saturday, 31 March 2012
FE Report
Finance Minister AMA Muhith Friday underscored the need for greater cooperation among the SAARC (South Asian Association for Regional Cooperation) countries to boost intra-regional trade.
"The intra-regional trade among the SAARC countries now accounts only for 5.0 per cent of the total intra-regional trade across the globe," he said.
The SAARC countries can boost their intra-regional trade through enhancing cooperation in trade and investment, Mr Muhith said.
The minister was speaking as the chief guest at the inaugural session of the 11th SAARC Trade Fair and Tourism Mart 2012 at Bangabandhu International Conference Centre (BICC) in the city.
Export Promotion Bureau (EPB), Ministry of Commerce and Ministry of Civil Aviation and Tourism have jointly organised the three-day-long fair.
Commerce Minister GM Quader, Civil Aviation and Tourism Minister M Faruk Khan and FBCCI President AK Azad spoke at the function as special guests.
In his speech, the finance minister also underscored the need for ensuring free movement of people in the SAARC region, saying Bangladesh would initiate steps to allow on-arrival visa for the sake of hassle-free travel.
Faruk Khan stressed the need for promotion of tourism in the SAARC region.
He said the SAARC countries have lots of beautiful tourist spots and emphasised adaptation of right policies by the governments concerned in this connection.
Speaking on the occasion, GM Quader laid emphasis on the need for enhanced cooperation among the SAARC nations for development of the tourism industry in the region.
"We have lot of potentials in business like tourism and hospitality. We are hopeful that this fair will help to boost up trade among the SAARC countries," Mr Quader said.
He also said the tourism sector could flourish further in the SAARC region though collective initiative and cooperation by the nations.
AK Azad underlined the urgent need for resolving the prevailing tariff and non-tariff barriers for the sake of boosting trade in the SAARC region.
EPB vice-chairman Shubhashish Bose said in his welcome address: "The earning from the tourism industry across the globe was $ 919 billon while the contribution of SAARC countries is only 2.06 per cent of the total global earning."
He said the growth rate of tourist visits across the globe was 34 per cent in 2010 whereas the growth rate was 78 per cent in the SAARC countries. It means tourism is a potential sector and coordinated regional initiative can boost up the tourism industry more."
He also said: "Bangladesh exported products worth $ 650 million to the SAARC countries while imported goods worth $ 5.34 billion from these countries in the last fiscal year (FY 2010-11)."
He added that in the first six months of FY 2011-12 Bangladesh exported products worth $ 433.02 million to SAARC countries while it imported goods worth $ 2.689 billion from these countries.
Nepalese Commerce and Supplies Minister Lekh Raj Bhatta, State Minister for Economic Development of the Maldives Ameen Abdullah, Additional Secretary of Commerce Ministry Mortuza Reza Chowdhury and Bangladesh Tourism Board Chief Executive Officer Md Mizanur Rahman also spoke at the inaugural ceremony.
The SAARC observer countries -- USA, European Union, Iran, South Korea, Mauritius, Myanmar, Australia, Japan, China and Turkey -- are taking part in the fair.
SAARC countries have put on display export-oriented products, lifestyle, food and beverage, healthcare products, personal care and beauty products, gifts, household, art, fashion, toys and games, baby and infant products, engineering products and construction materials as well as their indigenous and service products.
There are 300 stalls in the fair. Among these 50 stalls are for tourism, 100 for the trade sector from SAARC countries other than Bangladesh, 20 for SAARC observer countries and 130 stalls for Bangladesh.
The fair remains open from 10:00 am to 8:00 pm everyday until April 1. There is no entry fee in the fair.
The media partners of the fair are The Financial Express and the daily Samakal.
Finance Minister AMA Muhith Friday underscored the need for greater cooperation among the SAARC (South Asian Association for Regional Cooperation) countries to boost intra-regional trade.
"The intra-regional trade among the SAARC countries now accounts only for 5.0 per cent of the total intra-regional trade across the globe," he said.
The SAARC countries can boost their intra-regional trade through enhancing cooperation in trade and investment, Mr Muhith said.
The minister was speaking as the chief guest at the inaugural session of the 11th SAARC Trade Fair and Tourism Mart 2012 at Bangabandhu International Conference Centre (BICC) in the city.
Export Promotion Bureau (EPB), Ministry of Commerce and Ministry of Civil Aviation and Tourism have jointly organised the three-day-long fair.
Commerce Minister GM Quader, Civil Aviation and Tourism Minister M Faruk Khan and FBCCI President AK Azad spoke at the function as special guests.
In his speech, the finance minister also underscored the need for ensuring free movement of people in the SAARC region, saying Bangladesh would initiate steps to allow on-arrival visa for the sake of hassle-free travel.
Faruk Khan stressed the need for promotion of tourism in the SAARC region.
He said the SAARC countries have lots of beautiful tourist spots and emphasised adaptation of right policies by the governments concerned in this connection.
Speaking on the occasion, GM Quader laid emphasis on the need for enhanced cooperation among the SAARC nations for development of the tourism industry in the region.
"We have lot of potentials in business like tourism and hospitality. We are hopeful that this fair will help to boost up trade among the SAARC countries," Mr Quader said.
He also said the tourism sector could flourish further in the SAARC region though collective initiative and cooperation by the nations.
AK Azad underlined the urgent need for resolving the prevailing tariff and non-tariff barriers for the sake of boosting trade in the SAARC region.
EPB vice-chairman Shubhashish Bose said in his welcome address: "The earning from the tourism industry across the globe was $ 919 billon while the contribution of SAARC countries is only 2.06 per cent of the total global earning."
He said the growth rate of tourist visits across the globe was 34 per cent in 2010 whereas the growth rate was 78 per cent in the SAARC countries. It means tourism is a potential sector and coordinated regional initiative can boost up the tourism industry more."
He also said: "Bangladesh exported products worth $ 650 million to the SAARC countries while imported goods worth $ 5.34 billion from these countries in the last fiscal year (FY 2010-11)."
He added that in the first six months of FY 2011-12 Bangladesh exported products worth $ 433.02 million to SAARC countries while it imported goods worth $ 2.689 billion from these countries.
Nepalese Commerce and Supplies Minister Lekh Raj Bhatta, State Minister for Economic Development of the Maldives Ameen Abdullah, Additional Secretary of Commerce Ministry Mortuza Reza Chowdhury and Bangladesh Tourism Board Chief Executive Officer Md Mizanur Rahman also spoke at the inaugural ceremony.
The SAARC observer countries -- USA, European Union, Iran, South Korea, Mauritius, Myanmar, Australia, Japan, China and Turkey -- are taking part in the fair.
SAARC countries have put on display export-oriented products, lifestyle, food and beverage, healthcare products, personal care and beauty products, gifts, household, art, fashion, toys and games, baby and infant products, engineering products and construction materials as well as their indigenous and service products.
There are 300 stalls in the fair. Among these 50 stalls are for tourism, 100 for the trade sector from SAARC countries other than Bangladesh, 20 for SAARC observer countries and 130 stalls for Bangladesh.
The fair remains open from 10:00 am to 8:00 pm everyday until April 1. There is no entry fee in the fair.
The media partners of the fair are The Financial Express and the daily Samakal.