Govt working to curb business operations cost, boost trade: Adviser Bashir
Preparations underway to strengthen the TCB’s capacity ahead of Ramadan, he says
The government is actively working to lower the costs of business operations and facilitate trade to accelerate economic growth, Commerce Adviser Sheikh Bashir Uddin has said.
Joining a views-exchange meeting organised by the Chattogram Chamber of Commerce and Industry in the port city's Agrabad today, the adviser also underscored the need for enhancing competitiveness and increasing trade engagement to revive those institutions that have gradually lost their capacity over the past 15-16 years.
Representatives from various service providers, business organisations and associations took part in the meeting, with Muhammad Anwar Pasha, Chattogram additional divisional commissioner (General) and chamber administrator, in chair.
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As the chief guest, Adviser Bashir mentioned several government initiatives such as reduction of import duties on certain items to zero and approval to import 20 crore eggs – which, he stated, has helped lower the prices of key commodities such as eggs, sugar, and edible oil.
Acknowledging that natural disasters, such as floods, have disrupted local production and subsequently affected the market, he said market stability would return as domestic production returns to normal.
"Preparations are underway to strengthen the institutional capacity of the Trading Corporation of Bangladesh (TCB) ahead of Ramadan," he noted.
Bashir further discussed the government's trade strategies following Bangladesh's graduation from the Least Developed Country (LDC) status. He highlighted plans to deepen trade ties with Japan, South Korea, Singapore, and ASEAN countries to boost exports of Bangladeshi products.
"Negotiations are ongoing to implement the Economic Partnership Agreement (EPA) with Japan," he stated.
As a special guest, Commerce Secretary Mohang Salim Uddin highlighted the government's steps to curb monopolies in the import sector.
He explained that previously, the import of essential consumer goods was controlled by a small group of traders, which often created artificial crises and destabilised the market. To address this, the government has implemented measures to allow broader participation in imports while reducing import duties and LC (letter of credit) margins to control inflation and commodity prices.
