CHITTAGONG: Bangladesh business community of the port city expressed serious concern over the ongoing unrest saying it would affect the country’s overall trade and economic activities.
“We strongly oppose the political unrest as it slows down the pace of the trade and commerce.
The inflow of foreign direct investment will be affected due to the unfriendly business environment in Bangladesh,” Mahbubul Alam, president of the Chittagong Chamber of Commerce and Industry (CCCI), told The Customs Today. When asked about the losses caused by shutdowns and blockades, the CCCI president said they do not have the exact figures but the overall economic activity particularly the export-import operations come to a standstill due to ongoing unrest.
“We urge all political parties to shun any subversive programme which only adds woes to the economy and the people of the country,” CCCI president added.
“The political parties should look for an alternative ways to press their demands shunning hartal or blockade. They can observer the programmes like human chain, and long march without affecting trade and commerce of the country. The political parties should not opt for any kind of programmes which will create a bad image of the country abroad,” added the CCCI president.
Anjan Shekhar Das, director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the readymade garment sector, the country’s main foreign currency earner, would face order cancellations, expensive air transports and delayed payments from buyers due to political unrest in the country.
“This is the peak time for the buyers to place orders for autumn wears and the buyers want to get their deliveries by February. Now, the global buyers will look for an alternative source if the political unrest continues in Bangladesh,” added Anjan.
Echoing the same, Abdul Wahab, director of BGMEA, said the ongoing political unrest would scare away foreign buyers from placing orders.
“Time is considered a crucial factor in RMG sector. Any anarchic situation only disrupts timely shipment of goods. If we fail to send the goods on schedule, we run the risk of losing our buyers. To retain the current buyers, we send our goods by air, bearing extra cost and incurring losses.” said Wahab.
After the Rana Plaza incident, buyers shifted their work-orders from Bangladesh citing the compliance issues which had hardly affected the country’s readymade garment and textile sectors. However, the buyers started to come back due to our concerted efforts to overcome the negative image, added Wahab.
Syed Sagir Ahmed, general secretary of Khatunganj Trade and Industries Association, said the traders of Khatunganj incur losses amount to Tk 300 crore per day due to the strike.
“The outgoing year was a nightmare for the traders of Chaktai-Khatunganj wholesale market due to political turmoil. Soon after overcoming a loss, we have to incur loss again. The delivery and shipment of goods are hampered when strike is called,” said Ahmed.
Ahsanul Haque Chowdhury, senior vice-chairman of Bangladesh Shipping Agents Association, urged the ruling and other political parties to sit together and resolve the political impasse for the greater interest of the country’s economy.
Police on Tuesday decided to provide escort to trucks and covered vans laden with goods on way to and from Chittagong Port with an aim to ensure a smooth export-import business during the blockade.
The decision was taken at a meeting with the representatives of the BGMEA and the transport owners held at the police headquarter in Dhaka.
As per the decision, goods-laden covered vans will carry RMG products twice a day from Dhaka to Chittagong Port. Imported goods will also be carried under similar police escort from the ports to Dhaka city.
