The country’s external trade is at risk due to failure in clearing dues worth USD 150 million of the foreign shipping companies because of the ongoing dollar crisis, local shippers said at a roundtable meeting on Sunday.
They said the country’s export-import activities would suffer badly if the local shipping lines limit their operations following the crisis caused by a decline in remittances.
The roundtable meeting on ‘The Shipping Sector of Bangladesh: Realities and Responsibilities’ organized by the Bengali-language Ittefaq newspaper urged the authorities to take appropriate steps to enhance official remittance flow to improve the situation.
State Minister for Water Transport Khalid Mahmud Chowdhury attended the roundtable as chief guest, while Iqbal Ali Shimul, Senior Vice President of Bangladesh Shipping Agents’ Association (BSAA) was the keynote speaker.
Khalid Mahmud said there is nothing to be worried as the economy remains active and foreigners are coming to the country to make investment.
He said lack of professionalism doesn’t bring success in business. The business people have to work with responsibility, he added.
He also said this is government’s responsibility to resolve crisis and that is what the authorities have been doing.
Chairman of Chattogram Port Authority Rear Admiral Mohammad Shahjahan, BSAA Chairman Syed Mohammad Arif, President of Bangladesh Freight Forwarders Association Kabir Ahmed, Executive President of BKMEA Mohammad Hatem, former President of Chattogram Chamber Mahfuzul Haque Shah, General Secretary of Bangladesh Economic Associtaion Prof Md Aynul Islam, President of Bangladesh Inland Container Depot Association Nurul Quayum Khan, MCL Services President Mohiuddin Abdul Qadir, Global TV CEO Syed Ishtiaque Reza and Head of Business News of Ekattor TV Kazi Azizul Islam also spoke on the occasion. Special Correspondent of Ittefaq Sayedul Islam moderated the roundtable, while Diplomatic Correspondent of Ittefaq Mainul Alam delivered the welcome speech.
Mohammad Shahjahan said certain areas were identified as obstacles to growth of the country’s shipping sector. Reforms in the areas can enable the local shippers to perform at par with their global counterparts, he added. Iqbal Ali in his keynote speech described the long-time business relations with the foreign shipping companies are being affected due to failure of their dues worth USD 150 million. If the amount can’t be sent immediately, the supply chain will break down and the economy will suffer, he added.
