Bilateral meeting with H.E. Sheikh Fazle Fahim, President of the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI)
H.E. Mr. Yerlan Baidaulet, Director General of IOFS paid a courtesy visit to FBCCI and met its President, Mr. Sheikh Fazle Fahim during his mission to Dhaka on 20 February.
Mr. Sheikh Fazle Fahim and his colleagues introduced FBCCI, an apex trade organization of Bangladesh that plays a pivotal role in a consultative and advisory capacity, safeguarding interests of the private sector in the country. It coordinates and promotes the interests of its federating units such as Chambers of Commerce, Trade and Industrial Association; aids and stimulates investment, development of trade, commerce, industry, agriculture, tourism, human resources, and communication sectors in Bangladesh; assists the Chambers of Commerce and Industry and Associations in organizing Trade and Industry Fairs in different parts of Bangladesh among many other duties.
FBCCI is involved in forging strong bilateral ties between countries through counterpart organizations for commercial and economic cooperation. It helps to promote Foreign Direct Investment (FDI) including Joint Ventures in Bangladesh and identify appropriate partners. It maintains a close relationship with the Overseas National Chambers of Commerce and other Trade and Industrial Associations, including other similar economic organizations.
The FBCCI had been playing a vital role in all Fora of the Government and Economic Development organizations for mutual sharing of views on all vital issues concerning and affecting the national economy. FBCCI contains more than 60 Chambers of Commerce and Industry and more than 370 Trade and Industrial Associations.
Having represented the private sector entities in different domains, FBCCI is treated as a local driver of international trade and multilateral economic relations. Therefore, a close relationship with IOFS should be beneficial for Bangladeshi private entities and other OIC members states as it develops and broadens trade networks. Therefore, the IFPA is a huge platform for future interaction between entrepreneurs as it not only works with trade but also accommodates other issues, such as exchange of technology and information between members, capability studies and increased market access among others. Mr. Sheikh Fazle Fahim outlined the importance of halal and stated that the concept goes beyond food consumption covering many other aspects of life. A significant event on the Halal industry development, accompanied by fair, is planned to be held in Dhaka in October 2020, where Mr. Baidaulet was kindly invited. Furthermore, the IOFS was invited to take over the co-organizing role of the event. Parties also discussed prospects of creating a common sub-market of Islamic Countries.
Besides, FBCCI was very much interested to enhance bilateral G2G trade relationship between Kazakhstan and Bangladesh, where sides may propose to each other underestimated projects in many industries. Mr. Sheikh Fazle Fahim plans to visit Kazakhstan to attend the WTO summit this summer and take advantage of the opportunity to visit IOFS headquarters. IOFS and FBCCI agreed to strengthen further cooperation with a particular focus on food commodities.