The New Nation - Internet Edition

Staff Reporter

Stressing the need for boosting productivity, export competitiveness and diversification Chief Adviser Dr Fakhruddin Ahmed yesterday called upon the business community to create a new era in the country's economic development through concerted effort of public and private sectors.

"There is no alternative but to increase export to attain national economic growth at a higher rate," he said inaugurating the month-long 13th Dhaka International Trade Fair (DITF) 2008 at the Bangladesh-China Friendship Conference Centre.

"We have to develop our skills, competitiveness and productivity to face competition and tap opportunities in new markets," he added.

The CA said all kinds of efforts would have to be carried out to increase export, and government-private sectors would have to work in a synergy to this end.

The Ministry of Commerce and the Export Promotion Bureau (EPB) is jointly organising the trade fair in conjunction with Thailand as partner country.

Businesses from eight countries including host Bangladesh, Thailand, India, Pakistan, Turkey, Singapore, Japan and the United States are participating in the annual trade show.

A total of 395 institutions, including 15 companies from abroad, are showcasing their products in the exhibition at five premier pavilions, 42 pavilions, five premier mini-pavilions, 36 mini-pavilions, 35 premier stalls and 262 stalls at the city's Shere-Bangla Nagar venue.

Entry fee has been fixed at Tk 10 for adult and Tk 5 for child. The fair will remain open from 1.00 am to 9.00 pm on working days and 10.00 am to 10.00 pm on holidays.

Finance and Commerce Adviser Dr Mirza Azizul Islam, Commerce Secretary Firoz Ahmed, Administrator of FBCCI Syed Manzur Elahi and EPB Vice-chairman M Shahbullah also spoke at the function. Advisers of the caretaker government, diplomats, representatives of international organisations, members of business community from home and abroad and distinguished personalities attended the inaugural function.

The Chief Adviser said the government has taken up multifarious activities to face the challenges of globalisation, which include further intensifying export diversification and involving country's huge population in these activities to generate employment opportunity and reduce poverty.

To attain the goal, he said, the government is focusing on simplification of import-export process, increasing the standard of goods and productivity, application of modern technology in trade and commerce, expansion of export market and flourishing capability and establishing transparency and accountability in all spheres of the business arena.

The CA mentioned that the government recently has formed 'Regulatory Reforms Commission' and 'Better Business Forum' aiming to improve the business environment and simplify the rules and regulations.

The chief adviser said the country earned $12.1 billion from exports in fiscal 2006-07. Readymade garments accounted for about 76 per cent of the total, which Fakhruddin said was not a good sign for a sustainable market.

"The target could be achieved by using modern technology, easing the process of getting credits and export-import trade and improving the quality of products," he added.

Fakhruddin asked the business forum and research organisations to do more to tap the opportunities available at different multilateral and regional forum, including the World Trade Organisation.