Business

Businesses want fast restoration of law and order

Businesspeople want law and order to be restored fast and safety and security be ensured for the resumption of their trade soon under the new interim government led by Nobel laureate Prof Muhammad Yunus.

Business was affected a lot during the latest spells of violence and curfew and the entrepreneurs now want to get down to brightening the country's image.

A whitepaper needs to be published on how the latest export, import and other economic data was miscalculated and ways to prevent a recurrence, businesses said.

On top of it, the interim government needs to defer Bangladesh's status graduation from a least developed to a developing nation so that trade benefits can be availed until trade and businesses gain some strength.

The demands came at a views-exchange meeting organised by the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) at the Sonargaon hotel in Dhaka on the current situation of export-oriented businesses.

Mohammad Hatem, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association, moderated the meeting, which was attended by a group of businesspeople from different sectors, especially garment and textile entrepreneurs.

Shams Mahmud, managing director of Shasha Denims, said Bangladesh does not need the status graduation right now as the trade benefits as a least developed country are required for preferably 10 more years.

Shafiullah Chowdhury, vice president of the Exporters Association of Bangladesh, said safety concerns and a lack of confidence were the main challenges in business now.

There are fears that goods could be looted while being transported between ports and factories while foreign buyers are asking whether normalcy had returned for work orders to be placed with factories, he also said.

Kabir Ahmed, president of the Bangladesh Freight Forwarders Association, said he felt he could speak freely now and not be persecuted as the Sheikh Hasina-led government was no longer in power.

Air freight charges for cargo destined for European destinations have gone up to $7 per kilogramme for different reasons, he said.

It may go up to $8 soon whereas it was around $3.5 to $4 even a few days ago, Ahmed also said.

Abrar Hossain Sayem, president of the Bangladesh Apparel Youth Leaders Association, said some 48 young entrepreneurs expressed solidarity with the student movement and now they could witness the wind of change.

"Let us work together. Everyone is optimistic about Yunus. This is the time to revive the image of the country," he also said.

Abdullah Hil Rakib, vice-president of the Bangladesh Garment Manufacturers and Exporters Association, said the trade body formed a group with the help of workers to ensure safety amidst the absence of police in industrial zones.

M Shahadat Hossain Sohel, chairman of the Bangladesh Terry Towel and Linen Manufacturers and Exporters Association, said unlicensed buying houses should be listed to restore disciple in the garment buying business.

BGAPMEA Mohammad Shahriar said the customs and bond processes need to be streamlined.

Abdul Awal Mintoo, former president of the Federation of Bangladesh Chambers of Commerce and Industry, said they would help the interim government hold a free and fair election for the country.

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Businesses want fast restoration of law and order

Businesspeople want law and order to be restored fast and safety and security be ensured for the resumption of their trade soon under the new interim government led by Nobel laureate Prof Muhammad Yunus.

Business was affected a lot during the latest spells of violence and curfew and the entrepreneurs now want to get down to brightening the country's image.

A whitepaper needs to be published on how the latest export, import and other economic data was miscalculated and ways to prevent a recurrence, businesses said.

On top of it, the interim government needs to defer Bangladesh's status graduation from a least developed to a developing nation so that trade benefits can be availed until trade and businesses gain some strength.

The demands came at a views-exchange meeting organised by the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) at the Sonargaon hotel in Dhaka on the current situation of export-oriented businesses.

Mohammad Hatem, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association, moderated the meeting, which was attended by a group of businesspeople from different sectors, especially garment and textile entrepreneurs.

Shams Mahmud, managing director of Shasha Denims, said Bangladesh does not need the status graduation right now as the trade benefits as a least developed country are required for preferably 10 more years.

Shafiullah Chowdhury, vice president of the Exporters Association of Bangladesh, said safety concerns and a lack of confidence were the main challenges in business now.

There are fears that goods could be looted while being transported between ports and factories while foreign buyers are asking whether normalcy had returned for work orders to be placed with factories, he also said.

Kabir Ahmed, president of the Bangladesh Freight Forwarders Association, said he felt he could speak freely now and not be persecuted as the Sheikh Hasina-led government was no longer in power.

Air freight charges for cargo destined for European destinations have gone up to $7 per kilogramme for different reasons, he said.

It may go up to $8 soon whereas it was around $3.5 to $4 even a few days ago, Ahmed also said.

Abrar Hossain Sayem, president of the Bangladesh Apparel Youth Leaders Association, said some 48 young entrepreneurs expressed solidarity with the student movement and now they could witness the wind of change.

"Let us work together. Everyone is optimistic about Yunus. This is the time to revive the image of the country," he also said.

Abdullah Hil Rakib, vice-president of the Bangladesh Garment Manufacturers and Exporters Association, said the trade body formed a group with the help of workers to ensure safety amidst the absence of police in industrial zones.

M Shahadat Hossain Sohel, chairman of the Bangladesh Terry Towel and Linen Manufacturers and Exporters Association, said unlicensed buying houses should be listed to restore disciple in the garment buying business.

BGAPMEA Mohammad Shahriar said the customs and bond processes need to be streamlined.

Abdul Awal Mintoo, former president of the Federation of Bangladesh Chambers of Commerce and Industry, said they would help the interim government hold a free and fair election for the country.

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