Biz-Econ

FBCCI for tapping regional trade potentials

Despite having huge potentials, trade in the South Asian region remained below expectations due to tariff and non-tariff barriers, said the country`s apex trade body here on Sunday."Regional trade isn`t expanding in the expected way due to tariff and non-tariff barriers," said President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Abdul Matlub Ahmed.Matlub hoped that the regional trade will increase significantly if the trade barriers are identified and resolved accordingly.He was addressing a seminar titled `Development of Land Ports and Land Customs Stations for Trade Facilitation` at the FBCCI Bhaban.Shipping Minister M Shajahan Khan spoke on the occasion as the chief guest.Indian High Commissioner in Dhaka Pankaj Saran, Chairman of the National Board of Revenue (NBR) M Mujibur Rahman, NBR member M Farid Uddin, Bangladesh Land Ports Authority Chairman Tapan Kumar Chakrabarty, FBCCI first vice president M Shafiul Islam Mohiuddin and vice president Mahbubul Alam also spoke at the seminar.Bangladesh Land Ports Authority director Muhammad Abul Kalam made a presentation on the theme of the seminar.Speaking at the seminar, the FBCCI chief said some 80 percent of Bangladesh`s trade with India are done through Benapole Land Port, and laid emphasis on the proper use of other land ports and their further development.Matlub said they will identify the existing problems in land ports and customs stations and work on the recommendations.He hoped that they will soon see a coordinated management at the land ports and customs stations.Shafiul Islam said many land ports are not that much functional, while the cross-border trade remains very low for various reasons. "We`re working on regional connectivity. There`s huge potential. It is time to work together to resolve all the problems," he added. -UNB