PM urges entrepreneurs to produce quality products

Prime Minister Sheikh Hasina Sunday called upon the entrepreneurs and businesspeople to explore new markets abroad by producing quality and diversified products, and assured them of ensuring a business-friendly environment, reports UNB.
"We'll be there with you as in the past in tackling any challenge," she told the inaugural function of the 17th month-long Dhaka International Trade Fair (DITF) 2012 at the Bangabandhu International Conference Centre (BICC).
The prime minister urged the entrepreneurs to invest more to boost production, create local markets, and stressed the need for increasing the export volume as the global demand for products is on the rise.
She also urged them to find out which country wants which products.
Hasina said every business house and industry should have a Research and Development (R&D) Division, which would enable the respective business institutions to go for production considering the demand of buyers and facilitate easy marketing.
As a spokesperson of the Least Developed Countries (LDCs), the premier said Bangladesh wants full implementation of the commitment on Special and Differential Treatment.
"We want to see a world trade system free from tariff and non-tariff barriers," she said.
About power crisis, she said the government has been able to successfully tackle it and so far 2,900 MWs of electricity have been added to the national grid, while contracts have been signed (with various companies) to construct three coal-based power plants to reduce dependence on fuel oil.
After assuming power, Hasina said the present government has taken initiatives to construct 49 power plants and, so far, works on 24 plants have been completed. On gas production, the prime minister said its daily production now stands at 2100 million cubic feet as gas production has increased by 350 million cubic feet.
During the BNP-Jamaat alliance rule and the caretaker government, many businesspeople had turned back from business due to panic, creating a stalemate in the business sector, she said. "But, after assuming power, the present government has taken initiatives for flourishing trade and commerce and it has been able to restore confidence among the investors. We also have taken initiative to attract FDI and the country received $ 2.66 billion (266 crore) in FDI in the last three years," she told the function.
She alleged that, after 1991, the BNP government had reduced the import duty 40-50 per cent from 350 per cent, destroying the local industries and reviving the tradition of 'sick industries' and 'bad debt'. But, after assuming office in 1996, the AL government adjusted the duty system and energised every sector of the economy, including industry, commerce and insurance.
She said the government has already implemented a Tk 34.24 billion first stimulus package to offset the impacts of global economic meltdown and the second stimulus package is under implementation. Hasina mentioned that the country witnessed around 42 per cent export growth with earnings of around $ 23 billion in the last fiscal year (2010-11) due to the relentless efforts of the government, entrepreneurs and exporters.
Commerce Minister GM Quader, chairman of the Parliamentary Standing Committee on Commerce Ministry ABM Abul Quasem, President of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) AK Azad and Commerce Secretary Ghulam Hossain, among others, spoke on the occasion.
Export Promotion Bureau (EPB) vice chairman Shubhashish Bose delivered the welcome address.
The month-long 17th Dhaka International Trade Fair (DITF)-2012 will continue till January 31 at Sher-e-Bangla Nagar in the city showcasing local products. The fair has been organised by the Ministry of Commerce and the Export Promotion Bureau (EPB).
A total of 47 organisations, representing 12 countries from - Asia, North America, Europe and Africa - are participating in the DITF this year.
The participating countries are Pakistan, India, China, Iran, South Korea, Thailand, the USA, Turkey, Singapore, Malaysia, the UAE and Morocco.
A total of 506 stalls - pavilions (Bangabandhu Pavilion), premier pavilions, mini-pavilions, general stalls, restaurants and an amusement park - are there at the venue.
The entry fee has been fixed at Tk 20 and Tk 10 for adults and children respectively.