Continuation of ’Cross-Border Trade’ for global prosperity: ICC chair

Chairperson of the International Chamber of Commerce (ICC) Maria Fernanda Garza has laid emphasis on the continuity of cross-border trade in today's turbulent world as it has become a crucial challenge for sustaining global economic growth and prosperity.

She said this during the ICC Bangladesh Reception held at the Hotel Westin in the city on Monday, said a press release here on Tuesday.

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

At the event, Prime Minister's Private Industry and Investment Adviser Salman F Rahman expressed optimism about Bangladesh's development projects and improved traffic conditions.

He highlighted the ICC's unique status as the only private sector organisation accredited to the United Nations (UN).

Bangladesh's significant economic growth under the leadership of Sheikh Hasina was also celebrated, with a thriving agricultural sector and private sector success stories, he informed.

Commerce Minister Tipu Munshi welcomed Garza, highlighting their productive discussions on trade and investment collaboration in Mexico.

He mentioned the ICC's role in promoting a free-market economy and collaborating with governments and international institutions, including the UN.

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

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

This year, ICC Bangladesh celebrates the ICC Court Centenary, established in 1923, focusing on foreign trade promotion, trade policy reviews, legal reforms and cross-border business standards, he said.

He 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.

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

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

Cyber security and global cooperation were central themes, given the interconnected world, with practical policies and private sector initiatives essential for maintaining cyber security, she added.

She also laid emphasis on the ICC's leading role in reforming the multilateral system, including climate action, environmental preservation, global rules, and digitalization.

She 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.

The ICC Chairperson's visit reaffirmed its (ICC) commitment to global economic development, cooperation, and unity, celebrating Bangladesh's achievements and resilience.