FBCCI stresses on strategic Asia Cooperation Dialogue value chain initiatives

FBCCI President Sheikh Fazle Fahim put emphasis on strategic Asia Cooperation Dialogue (ACD) value chain initiatives and maximises each other's comparative advantages with raw materials, knowledge and expertise from its member countries.

He made the remark at the first virtual conference of the Chambers of Commerce and Industry (CCI) of the Asia Cooperation Dialogue (ACD) member countries was held on Wednesday, said a press release.  

Union of Chambers and Commodity Exchanges of Turkey (TOBB) president M Rifat Hisarciklioglu chaired the dialogue while Turkey's Trade Minister Rushar PEKCAN made the keynote speech.

FBCCI president Sheikh Fazle Fahim attended the programme representing Bangladesh.

The FBCCI boss also stressed on maximising production competitive edge of Bangladesh, export to ACD market and beyond, maximizing ACD value chains with global implications based on shared resources and knowledge.

He emphasized on joint investment and R&D in the areas of skill development, e-commerce, manufacturing, food processing, agro mechanization, equipment, light engineering, seed development, agro-tech, energy, water, MSMEs, innovation, startup ecosystem, minerals, chemical, automobile, motorbike industry component, fishing, service cooperation in shipping and tourism, and ACD value chain initiative etc.

Sheikh Fazle Fahim apprised the government of Bangladesh covid19 response, the comprehensive stimulus package of US$ 14.60bn (4.44% of GDP) under 23 categories.

He underscored the government's response, FBCCI advocacies in fiscal and non-fiscal, CMSMEs, budgetary tariff interventions to absorb shock in 2020 and the process is in continuation to sustain the trend of last year, which were well managed and recovery in next two years.

Dr Pornchai Danvivathana, Secretary General of ACD, also addressed the occasion. 

The chambers in ACD member-states participated the programme to improve connectivity, ACD-trade relations and cross-border harmonization.

Business leaders from 35 member countries spoke on the economic state of play in ACD member countries.

The TOBB President spoke about the importance of business connectivity, cooperation, dialogue, and solidarity as Asia has become the hub of manufacturing.

The Trade Minister of Turkey emphasized on the mutual cooperation to face the year of recovery after the pandemic. She implied the significance of collaboration among the members of ACD that is paramount at the current situation.

Turkey's investment office vice president Ahmet Ihsan ERDEM made a presentation on business opportunities of Turkey while Prof Dr Guven SAK, Managing Director, Economic Policy

Research Foundation (TEPAV) made a presentation on the "Future Agenda for the Business Community in the Post COVID Era of the Asia Cooperation Dialogue Member Countries".

Established in 2002, Asian Cooperation Dialogue (ACD) is the first international organization covering the entire Asian geography.

ACD has 35 members from different regional organizations, including ASEAN, SAARC, CICA, OIC, GCC, Eurasian Economic Union and SCO member countries.