IBFB Annual Conference 2022

Indian High Commissioner Pranay K. Verma put emphasize on strengthening trade ties between two nations for sake of economic progression. He also said that two nations made progression on many fronts for over the last decade. Mutual cooperation is only ways in enhancing trade and business, Mr. Verma said. He made the observation as chief guest in annual conference of International Business Forum of Bangladesh (IBFB).

In his speech, he underscored the need for signing Comprehensive Economic Partnership Agreement (CEPA). CEPA deal definitely helps to explore business opportunities to a great extent, Mr. Verma said. We are committed to expanding economic engagement more than before, Mr. Verma said also. In a bid to enhance trade relations, there needs to be improved multimodal connectivity.

Mr. Verma also said that Private sectors of both nations have options to play constructive role in taking businesses to a new height.  As Bangladesh is one of largest business partners of India, India is ready to serve business people in Bangladesh on any affairs including VISA facilities.

Bangladesh is set to become developing country in 2026 and Bangladesh has to work bilaterally in addressing LDC graduation related challenges, Mr. Verma said. There must have mutual cooperation in seeing balanced trade volume between India and Bangladesh.

Dr. Zahid Hussain, former lead economist at World Bank Dhaka office presented key note on state of Bangladesh economy. Mr. Hussain in his presentation emphasized on policy innovation in view of current economic scenario. Bangladesh has recently reformed some policies considering ailing economic indicators and hopefully the policy is set to work slowly, Mr Hussain said. He expressed dissatisfaction over existing Gini coefficient, measure of income inequality. Economic growth will not come as blessing if Gini coefficient is not reduced, former lead economist said.  If eight per cent average growth is not made sure, there is no possibility of becoming middle-income country, Mr. Hussain said.

IBFB Founding President Mr. Mahmudul Islam Chowdhury said that there are many ways to explore mutual businesses. India has given a lot of supports for over the decades in respect of trade and business issues, Mr.  Chowdhury said.  IBFB Vice President said, VISA policy must be revised first in taking bilateral trade ahead.

IBFB members, scholars, economists, researchers were present among others in the program.

IBFB president Humayun Rashid chaired the program.