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‘Trade economy to reach $100m soon’

imagesBangladesh is going to be $100 billion trade economy in near future, said Mahbubur Rahman, president of International Chamber of Commerce Bangladesh.

He spoke while inaugurating a workshop on “Incoterms 2010 and uniform rules for demand guarantees” organised by the ICC Knowledge Centre in the capital yesterday, the chamber said in a statement.

Rahman praised the performance of various industries, including readymade garments, leather, pharmaceuticals and shipbuilding for increasing exports.

He also expressed gratitude to migrant workers, whose regular remittances of around $14 billion have been instrumental to building foreign currency reserves.

Bangladesh Bank also deserves credit for management of the foreign currency, accruing a reserve of $20 billion, he said.

“We now have to create congenial environment to attract both domestic and foreign direct investment for setting up basic industries,” he said.

ICC Knowledge Centre is a joint initiative of the chamber and HSBC Bangladesh. The platform focuses on learning, networking and knowledge facilitation for the professionals of local trade community engaged with international trade in Bangladesh.

Md Fazlul Hoque, chairman of the executive committee of the Centre, and Pavel Andrle, member of ICC Banking Commission, also spoke.

Source: Daily Star

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