The 10th Annual General Meeting of IBFB was held on 19th May 2015 in Dhaka
Ms. Marcia S. B. Bernicat, Ambassador of USA to Bangladesh spoke as the Chief Guest in the Opening Session of 10th AGM of IBFB. Mr. Kazi Akram Uddin Ahmed, President of FBCCI was present as the Special Guest. Mr. Hafizur Rahman Khan, President of IBFB, Mr. Mahmudul Islam Chowdhury, Founding President, Mr. Md. Omar Shafayat Kausar, Vice President, Mr. Humayun Rashid, Vice President (Finance), Engr. Md. Sakhawat Hossain, Chairperson of Chittagong Chapter of IBFB are also seen.
International Business Forum of Bangladesh (IBFB) organized its 10th Annual General Meeting (AGM) on Tuesday, 19 May 2015 at Hotel Pan Pacific Sonargaon in Dhaka. Ms. Marcia Stephens Bloom Bernicat,Ambassador of USA to Bangladesh spoke as the Chief Guest in the Opening Session of the AGM, where Mr. Kazi Akram Uddin Ahmed, President of FBCCI was also present as the Special Guest. Ms. Amber Brooks, Director, Office of Democracy & Governance, USAID Bangladesh participated as the Chief Guest in the Second Session of the AGM.
Mr. Hafizur Rahman Khan, President of IBFB chaired both sessions of the AGM. Mr. Mahmudul Islam Chowdhury, Founding President, Mr. Md. Omar Shafayat Kausar, Vice President, Mr. Humayun Rashid, Vice President (Finance), Engr. Md. Sakhawat Hossain, Chairperson of Chittagong Chapter andMd. Abdus Salam, Executive Director of IBFB were also present on the Dias.
Ms. Marcia S. B. Bernicat said, the U.S. government recognizes the significant progress made, especially on improving worker safety in the RMG sector, but there is still work to be done, especially to improve labor rights to regain Generalized System of Preferences (GSP) and other trade concessions. She also said that the U.S. Govt. will continue its support and cooperation to enhance bilateral trade and investment, improve living standards of people, education, public health and plenty of other socio-economic issues to help Bangladesh in achieving their target of becoming a middle income country in near future. Regarding trade relationship between USA and Bangladesh the U.S. Ambassador said, bilateral trade has increased around $6.4 billion a year out of which Bangladeshi export to the United States, primarily of ready-made garments, amounts around $5.3 billion, whereas U.S. export to Bangladesh is around $1.1 billion that comes from a wide-range of sectors from planes to chemicals. She reiterated her commitments to work for enhancing USA-Bangladesh bilateral trade as it generates huge employments, brings new technologies and best practices, and stimulates foreign direct investment. She said, many of these jobs are filled by women and as such create accelerated opportunities for economic empowerment. However, she suggested for effective measure to tackle obstacles to a healthy business climate such as the absence of dispute resolution mechanisms and difficulties in obtaining land and gas permits. The U.S. Ambassador also gave emphasis on issues like ensuring political stability, increased investment in infrastructure, improvements to protecting intellectual property rights to establish the best competitive business climate in Bangladesh.
Mr. Kazi Akram Uddin Ahmed, President of FBCCI, said that Bangladesh expects more FDI from USA. In spite of being the single largest of RMG products and single largest investor in Bangladesh, he said, there are plenty of other fields where USA companies can invest and expand their respective business operations. He said that the Honorable Prime Minister Sheikh Hasina’s aspiration of transforming Bangladesh into a middle-income country by 2021 is not a dream; rather it has now become a reality.
Mr. Hafizur Rahman Khan said, the private sector has significant contribution to the current remarkable achievements of our country. He requested the political leaders as well as the political parties to ensure political stability and a sustainable business environment in the country so that the natural flow of our business and economic activities remain uninterrupted in future. In order to encourage industrialization and investments by the local as well as foreign investors, he opined that the Board of Investment (BOI) should be made more effective and complexities prevailing in our investment policies should be minimized. He requested the Govt. to consider and take immediate measures to make two new highways – one from Thakurgaon to Cox’s Bazaar and the other from Mongla to Sylhet, which can bring about radical changes in our economy. Mr. Khan demanded effective measures from the Govt. for SME sector development at district level and rural development as well. He requested the Govt. to bring down the current bank interest rate to single digit so that private sector can sustain and become interested for more investment and expansion of their business operations.
In addition to IBFB Directors and Members, the AGM was also attended by distinguished political leaders, business leaders from other associations, former senior bureaucrats, members of the civil society, academia etc. Amongst others, Mr. ASM Abdur Rab, former Minister, Mr. G. M. Quader, former Commerce Minister,Mr. Suhel Ahmed Chowdhury, former Secretary, Mr. Faurk Ahmad Siddiqi, former SEC Chairman, Dr. Md. Abdul Mazid, former NBR Chairman etc. were present in the AGM.
In the 2nd Session, Mr. Matiur Rahman, Chairman & Managing Director of Uttara Motors Ltd. and Mr. Mohammad Fakhruddin, Managing Director of United Investment & Trading Corporation Ltd. were elected as new Director, whereas Mr. Mohammad Ali Deen, Chairman of M/S Deen Impex and President of Naogaon Chamber of Commerce & Industry was also reelected as Director in IBFB Board.
