Cross-border trade must continue for global prosperity: ICC chair

The continuation of cross-border trade in today's turbulent world has become a crucial challenge for sustaining global economic growth and prosperity, Maria Fernanda Garza, chair of the International Chamber of Commerce (ICC), said on Tuesday (17 October)

Garza made the statement during the ICC Bangladesh Reception held at the Hotel Westin in Dhaka. Her visit to Bangladesh revolves around discussions with sector insiders and her insights into various trade-related issues.

Mahbubur Rahman, president of ICC Bangladesh, welcomed Garza to Dhaka and underlined ICC's mission of making business work for everyone, every day, everywhere. He highlighted the ICC's influence on international trade rules and its consultative status with global bodies.

This year, ICC Bangladesh celebrates the ICC Court Centenary, established in 1923, focusing on foreign trade promotion, trade policy reviews, legal reforms, and cross-border business standards, Mahbubur said.

He lauded the government's commitment to regulatory reforms, emphasising the role of the private sector in infrastructure, energy, and natural resource investment.

Garza's speech focused on two topics - cybersecurity and international cooperation. Given how interconnected the world is, maintaining cybersecurity requires practical policies and private sector activities. Garza highlighted the ICC's leading role in reforming the multilateral system, including climate action, environmental preservation, global rules, and digitalisation.

She underlined the importance of unity within the business community and ICC's role in shaping global policies.

The ICC chair also praised Bangladesh's progress, acknowledging its determination, unity, and resilience in the face of challenges, and expressed her commitment to promoting Bangladesh on the global stage. Her visit reaffirmed the ICC's commitment to global economic development, cooperation, and unity, celebrating Bangladesh's achievements and resilience.

At the event, Prime Minister's Private Industry and Investment Adviser Salman F Rahman expressed hope about Bangladesh's development projects and improved traffic conditions. Bangladesh's significant economic growth under the leadership of Sheikh Hasina was also celebrated, with a thriving agricultural sector and private sector success stories.

Commerce Minister Tipu Munshi welcomed Garza, highlighting their productive discussions on trade and investment collaboration in Mexico. The ICC's role in promoting a free-market economy and collaborating with governments and international institutions, including the UN, was noted. 

ICC Vice President Naser Ezaz Bijoy delivered the welcome address, emphasising the significance of ICC members in the global economy and their contributions to Bangladesh's progress and prosperity under their leadership.