Govt may alter laws for business

Commerce minister speaks at launch of Garmentech Bangladesh
Staff Correspondent

Commerce Minister Faruk Khan said yesterday the government is pledge-bound to amend any laws to help business activities run smoothly.
Khan said his government is ready to identify any problems to be solved to facilitate business activities, as it was committed in their manifesto.
"We are even ready to change any laws for the sake of investment, export and industrial growth," said the newly appointed minister.
"If there is a need for any change in a policy, it will be done. Let's know where the change is needed," Khan said.
He was speaking at the inaugural ceremony of a four-day fair styled 'Garmentech Bangladesh' at Bangladesh-China Friendship Conference Centre in the capital.
This is the 8th version of such exhibition where the local and foreign machinery and accessories for textile and garment sectors have been put on display.
Annisul Huq, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said 2009 is a challenging year for Bangladesh and its businesspeople as the whole world is entering an apparently long-term recession stemming from financial turmoil.
He said although China, a key player in global apparel business, is passing through a rough time, it is getting ready to retain its market share with its own strategy.
China is coming back to the global apparel business with new and innovative marketing strategies, which might be another challenge for Bangladesh in 2009, he said.
"We need to improve productivity right now to survive in the global market," the FBCCI president said.
Anwar-Ul-Alam Chowdhury Parvez, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said: "Still we have chances to grab more market share even in such an economic turmoil as we mainly work at the lower segment of garment business."
"This is why I see the recession as an opportunity for Bangladesh," Parvez said.
"But we have to address the issues like 25 percent manpower shortage in RMG sector, get policy supports from the government and upgrade technology for more value addition to sustain our growth," the BGMEA president suggested.
He also stressed forming a taskforce immediately headed by the prime minister to safeguard the RMG sector from global recession fallout.
Fazlul Hoque, president of Bangladesh Knitwear Manufacturers and Exporters Association, said the country has a chance to be the global leader in knitwear export within the next 10-11 years as Bangladesh is already in the third position in global knitwear business followed by China and Turkey.
"But we should take pragmatic decision to cope with the current financial meltdown," Hoque said.
Meanwhile, around 250 companies from 25 countries are participating in the exhibition, said Tipu Sultan, general manager of Zakaria Trade and Fair International.
Zakaria Trade and Fair International, Dhaka, and Zak Trade Fairs and Exhibitions Pvt Ltd, India, are jointly organising the show, which is open from 10:30am to 7pm without any entry fee.
Garment machinery sellers mainly from USA, Canada, China, Japan, Germany, Italy, India and Korea are taking part in the fair.