Sheikh Fazle Fahim new chairman of IORBF

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FE Team | Published: November 16, 2021 23:51:17

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Sheikh Fazle Fahim, a former president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), has been elected the Chairman of Indian Ocean Rim Business Forum (IORBF), says a statement.
The IORBF is the primary body for business representatives to formulate policies and project recommendations to IORA (Indian Ocean Rim Association) member-states. Since the establishment of IORA in 1997, Bangladesh has been elected for the first time its Chair for 2021-2023.
The 23rd meeting of the Committee of Senior Officials (CSO) of the IORA took place on November 15-16 while the 21st Council of Ministers (COM) will be held on November 17. More than 80 representatives, including 12 ministers of 23 countries and nine dialogue partners, will attend the event in Dhaka.
Speaking at the CSO meeting, Sheikh Fazle Fahim presented his plans on how to take the IORBF forward.
Highlighting the geo-economic importance of the Indian Ocean as a vital trading hub for the entire world, Mr. Fahim listed the challenges facing the IORBF in the aftermath of Covid-19 pandemic.
Pointing out the challenges such as supply chain disruptions, the rising cost of trade logistics, decline of investments in the private sector, economic stagflation and inflation, he also suggested possible solutions to these challenges.
IORA works to improve regional cooperation through the creation of sustainable development within the Indian Ocean region. IORA has 23 member states and nine dialogue partners.
The primary focus of IORA lies in disaster risk management, tourism & cultural exchanges, maritime safety & security, fisheries management, trade & investment facilitation, and academic, science and technological cooperation. Their two other focus areas are blue economy and women's economic empowerment.