BIDA reaffirms efforts to facilitate trade

Executive Chairman of Bangladesh Investment Development Authority (BIDA) and Bangladesh Economic Zones Authority (BEZA) Chowdhury Ashik Mahmud Bin Harun on Monday reaffirmed their continuous efforts to facilitate trade in the country, reports BSS.

He made the remarks at a dialogue organised by the American Chamber of Commerce in Bangladesh (AmCham) at a city hotel, said an AmCham press release.

Chowdhury Ashik appreciated the constructive feedback and recommendations shared at the dialogue, and said they would consider those with utmost priority.

John Fay, commercial counselor of US Embassy in Dhaka, also attended the event, with AmCham President Syed Ershad Ahmed in the chair.

Some key issues highlighted during the dialogue included streamlining legal and approval processes, BIDA's role in importing capital machinery, maintaining a long-term policy, strengthening BIDA's One-Stop Service, establishing an effective feedback mechanism, branding Bangladesh, creating a conducive environment for foreign investment, and ensuring the continuation of existing investments.

In his introductory remark, AmCham President emphasised the critical need for automation of customs to enhance the participation of Bangladesh in the competitive global market.

Besides, AmCham members provided various recommendations for trade facilitation aimed at attracting more foreign direct investment (FDI) to Bangladesh.