|
News | Web Resources | Yellow Pages | Free Advertising | Chat
Bangladesh |
Immigration |
E-cards |
Horoscope |
Matrimonial |
|
Change Your Life! |
ICC Conference vented concern over decrease of FDI |
|
News
|
|
|
November 17, 2000
Dhaka--(UNB) – Leading businessmen from across the globe at the recently concluded ICC Asia Conference here vented concern over the decrease of FDI inflow to developing and least developed countries. They pleaded for manifold increase of FDI inflow to these countries to bring about equilibrium in global economy. “FDI should be diverted to the developing and LDCs irrespective of their limitations. If the FDI is diverted, our limitations would be bounced back to strength,” said Mahbubur Rahman, President of ICC-Bangladesh, of the outcome of the conference at a press briefing yesterday. Vice Presidents of the ICC-Bangladesh Latifur Rahman and ASM Quasem, and Secretary Mohiuddin Babar were present at the press briefing. The conference, organised by the Bangladesh chapter of the Paris-based International Chamber of Commerce (ICC), was held Nov 10-11 at a local hotel. Prime Minister Sheikh Hasina opened it. Policymakers, business leaders, economists and professionals from 25 countries in Asia, Australia, Middle East and Europe participated in the conference. The participants stressed the need for greater integration of the developing and least developed countries with the global economic and trading regime. They cautioned that rapid development of electronic communication in the recent days and its tangible impact on various aspects of life and living in near future could threaten a bitter imbalance. To avert the consequence, the participants suggested that immediate efforts be made to develop the infrastructures in the developing and least developed countries. They voiced concern over growing imbalance in trade between the developed countries and the developing and least developed ones in the global trading regime. Non-fulfillment of the regulations of the Marakesh Agreement and indecision of WTO with regard to the needs and imperatives for the developing and LDCs were creating hindrance, they pointed out. Detailed discussions were held in the business sessions of the conference on FDI for oil, gas and manufacturing sectors, WTO, trade liberalisation and concerns of the developing countries, IT, Telecom and Electronic Commerce, multimodal transport network, Asian recovery; and arbitration and alternative methods of dispute resolution. The deliberations at the business sessions referred to the potentials for investment in different sectors in the region. However, the participants took special note of the problems faced quite often by the intending investors. The conference also stressed the need for more interactions among the countries of the region to seek greater volume of FDI. Thai Deputy Prime Minister and Director General Designate of WTO Dr Supachai Panitchpakdi, ADB President Tadao Chino, UN-ESCAP Executive Secretary Dr Kim Hak-Su, Chinese Vice Minister Sun Zhengyu were among the participants of the conference. |