Economy
FBCCI President Stresses Importance of Expanding Trade in Unconventional Markets
During a courtesy meeting with the newly appointed ambassador of Bangladesh to Libya, Major General Abul Hasnat Mohammad Khairul Bashar, FBCCI President Md. Jashim Uddin emphasized the need to enhance commercial activities to broaden trade in non-conventional markets. The FBCCI Icon hosted a meeting on Wednesday, May 17th.
President Md. Jashim Uddin pointed out that Bangladesh is still striving to increase trade beyond the conventional European and American markets. He emphasized the importance of targeting non-conventional markets such as the Middle East, Africa, and Asia. He stated that the current global geopolitical landscape presents a new window of opportunity for Bangladesh, as buyers are diversifying away from relying solely on a single market.
To capitalize on this potential, President Md. Jashim Uddin stressed the necessity of improving marketing strategies and increasing efficiency. He highlighted several sectors with immense potential in Bangladesh, including the rapidly expanding processed food industry, pharmaceuticals, electronic products, light engineering, leather and leather goods, ceramics, and plastic products. He urged the Bangladeshi ambassador to Libya to take proactive measures in expanding the market for these products in Libya.
In response, Ambassador Major General Abul Hasnat Mohammad Khairul Bashar expressed optimism about the improving security situation in Libya, which creates opportunities for renewed collaboration between Bangladesh and Libya across multiple sectors. He specifically mentioned the embassy’s focus on exporting skilled manpower to Libya.
The courtesy meeting witnessed the presence of FBCCI Vice President Md. Habib Ullah Dawn, Secretary General Mohammad Mahfuzul Hoque, Ambassador Mosud Mannan, and other attendees.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
