Continuing cross-border trade a crucial challenge

The continuity of cross-border trade in today's turbulent world has become a crucial challenge for sustaining global economic growth and prosperity, according to Maria Fernanda Garza, chairperson of the International Chamber of Commerce (ICC).

She made the comments at a reception organised by the ICC Bangladesh in honour of her visit to Bangladesh at The Westin in Dhaka on Monday, said a press release.

Garza stressed the importance of cross-border commerce, especially in today's uncertain global landscape.

Cybersecurity and global cooperation were also central themes, with practical policies and private sector initiatives essential for maintaining cybersecurity being highlighted.

"The ICC has played a leading role in reforming the multilateral system, including climate action, environmental preservation, global rules, and digitalisation," said Garza, who underlined the importance of unity within the business community and ICC's role in shaping global policies.

Garza praised Bangladesh's progress, acknowledging its determination, unity, and resilience in the face of challenges, and expressed her commitment to promoting Bangladesh on the global stage.

Garza's visit to Bangladesh revolved around discussions with sector insiders and her insights into various trade-related issues.

Welcoming Garza to Dhaka, Mahbubur Rahman, president of ICC Bangladesh, underlined ICC's mission of making business work for everyone, every day and everywhere.

He highlighted the ICC's influence on international trade rules and its consultative status with global bodies.

This year, ICC Bangladesh celebrates the centenary of the ICC Court, established in 1923 to focus on foreign trade promotion, trade policy reviews, legal reforms, and cross-border business standards, Rahman said.

Bangladesh's remarkable economic growth -- transitioning from a least developed country to a developing one by 2026 -- positions it as the 35th largest economy globally, he said.

Rahman lauded the government's commitment to regulatory reforms, emphasising the role of the private sector in infrastructure, energy, and natural resource investment.

Salman F Rahman, private industry and investment adviser to the Prime Minister, expressed optimism about Bangladesh's development projects and improved traffic conditions.

"The ICC's unique status as the only private sector organisation accredited to the United Nations was highlighted. Bangladesh's significant economic growth under the leadership of Sheikh Hasina was also celebrated, with a thriving agricultural sector and private sector success stories," said F Rahman.

Commerce Minister Tipu Munshi highlighted productive discussions on trade and investment collaboration in Mexico.

"The ICC's role in promoting a free-market economy and collaborating with governments and international institutions, including the UN, was noted. Bangladesh's commitment to the Sustainable Development Goals and transition to a middle-income country by 2026 through key infrastructure projects was also underscored," said Munshi.

In his welcome address, Naser Ezaz Bijoy, vice-president of ICC Bangladesh, highlighted the significance of ICC members in the global economy and their contributions to Bangladesh's progress and prosperity.

Justice KM Hasan, former chief justice of Bangladesh, Syed Manzur Elahi, chairman of Apex Footwear, Abdul Hai Sarker, Aftab Ul Islam, Anwar-Ul-Alam Chowdhury (Parvez), Md Fazlul Hoque, Mir Nasir Hossain, Mohammad Hatem, Sheikh Kabir Hossain, Simeen Rahman and Tapan Chowdhury, executive board members of ICCB, Md Sameer Sattar, president of DCCI, Omar Hazzaz, president of CCCI, Syed Mahbubur Rahman, managing director and CEO of Mutual Trust Bank, Humaira Azam, managing director and CEO of Trust Bank, Mohammad Shamsul Islam, managing director of National Housing Finance and Investments, and Mahfuz Anam, editor of The Daily Star, were present.

Among others, Md Abdul Haque, managing director of Eastland Insurance Company, Khawza Manzer Nadeem, managing director of United Insurance Company, Nihad Kabir, senior partner of the Syed Ishtiaq Ahmed & Associates, Mohammed Abdul Jabbar, managing director of DBL Ceramics, ATM Tariquzzaman, managing director of Dhaka Stock Exchange, Tanvir Ahmed, managing director of Green Textile, Syed Ershad Ahmed, managing director of Expeditors (Bangladesh), Rachel Wu, managing director of LSI Industries, Anis A Khan, adviser to the board of Tyser Risk Management Bangladesh, Zaved Akhtar, chairman and managing director of Unilever Bangladesh, Zaidi Sattar, chairman of the Policy Research Institute of Bangladesh, Ahsan H Mansur, executive director of the Policy Research Institute of Bangladesh, Debapriya Bhattacharya, distinguished fellow of the Centre for Policy Dialogue, Prof Mustafizur Rahman, distinguished fellow of the CPD, were also present.