Published:  01:23 AM, 12 July 2018

Stronger rule of law required for economic growth

US Ambassador Marcia Bernicat says at IBFB program

Stronger rule of law required for economic growth US Ambassador Marcia Bernicat addressed IBFB AGM on Wednesday as chief guest. AA

The Annual General Meeting (AGM) of International Business Forum of Bangladesh (IBFB) was held on Wednesday in the capital's BRAC Center Inn. Marcia Bernicat, US Ambassador to Bangladesh attended the program as chief guest. Dr. Khondoker Bazlul Hoque, Professor, Dhaka University and Dr. Mojib Uddin Ahamed, Chairman, Investment Corporation of Bangladesh (ICB) were present as special guests.

It was presided over by the outgoing IBFB President Hafizur Rahman Khan. He said that IBFB is a research and advocacy based non-political, nonpartisan and nonprofit business forum. IBFB studies economic trends, business challenges and gives recommendations to the country's policymakers to overcome hurdles for sustainable economic growth, he further said.

Hafizur Rahman Khan added that IBFB delegates visited Bhutan, Vietnam, Thailand, Malaysia, Myanmar, United States of America, Korea and some other countries to explore business prospects and expand bilateral trade relationships. Similarly IBFB invites business associations and companies from different countries to visit Bangladesh to take a closer look into the commercial and investment opportunities in Bangladesh, he told the audiences.

Hafizur Rahman Khan said that USA is the largest single-country market for readymade garments (RMG) from Bangladesh. To further enhance the reciprocal ties between USA and Bangladesh, Hafizur Rahman Khan called upon the US Ambassador Marcia Bernicat to initiate required measures to set up at least two US Trade Centers in Dhaka and Chittagong. He further stated that there are fifteen American Business Corners (ABC) in different Indian cities.

Marcia Bernicat applauded Bangladesh for graduating from least developed countries (LDC). She laid emphasis on stronger rule of law and zero tolerance against corruption for Bangladesh's further economic growth.

Marcia Bernicat said that the United States is focused on eradicating unfair trade barriers. She urged Bangladesh to overcome trade impediments to speed up the country's economic advancement. She added that the economic alliance between Bangladesh and USA has made remarkable progress over the years.

The program was attended by diplomats from different foreign missions, higher government officials, politicians, business leaders, academic scholars, journalists, IBFB directors and other invited guests.

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