DHAKA, Nov 26, 2024 (BSS) – The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) today stressed on boosting capacity of local industries to ensure sustainable graduation.

In this regard, the country’s apex trade body put special emphasis on export diversification, exploring new markets, research and innovation in the private sector, boosting productivity through skills enhancement and utilization of newer technology.

The FBCCI leaders made the request in a meeting with the Member of the UN Committee for Development Policy (CDP) Taffere Tesfachew held today, said a press release.

They also sought continued support from the UN in this regard.

Economic Relations Division (ERD) Additional Secretary AHM Jahangir and SSGP project component manager Mostafa Abid Khan were present.

While delivering welcome address, FBCCI Administrator Md Hafizur Rahman said that Bangladesh has already passed in all the three LDC graduation related indexes like in per capita income, human resources, climate and economic vulnerability.
With such feat, he said that a positive image has already been created about Bangladesh in the global arena while direct FDI would be more attracted with the strengthening of the private sector.
He also hoped that a reflection of rationale opinion from the private sector would be seen in the Smooth Transition Strategy (STS) being framed by Bangladesh.

The FBCCI Administrator also underscored the need for enhancing competitive edge of the local industries for marching towards the next phase of development since Bangladesh would not get any more special preferences in the export market after LDC graduation.

Taffere Tesfachew said that Bangladesh could be a role model for other LDCs adding that an integrated effort is needed from both the public and private sector to make the country’s graduation process sustainable.

BEZA Director Mohammad Imtiaz Hasan, BIDA Deputy Director Sujan Das Gupta, SAARC Chamber Vice President Shafkat Haider, former FBCCI Vice President Abul Kashem Haider, former FBCCI Director Gias Uddin Chowdhury (Khokon), BASIS Vice President M Asif Rahman were present among others.