Business leaders gathered in Dhaka on Wednesday emphasized the need for trade bodies to serve all businesses effectively, regardless of political affiliations.

They criticized the politicization of trade bodies over the past 15 years, which they believe has led to inadequate services for general businesses.

The meeting, organized by the business community, addressed the current trade and business environment and future challenges.

Abdul Awal Mintoo, former president of the Federation of Bangladesh Chambers of Commerce and Industries, stressed that trade bodies must fulfill their core purposes and not cater to a select few.

‘Political support should be set aside; those in trade bodies must address sectoral issues,’ Mintoo said, calling for the resignation of anyone who fails to perform their duties.

Mintoo highlighted pressing issues such as declining investments, rising inflation, and decreased savings.

‘Without investments, there will be no employment,’ he noted, advocating for a democratic government elected through free and fair elections to address these challenges.

The leaders agreed on the need for trade bodies to refocus on their primary mission of supporting businesses and to avoid the pitfalls of political influence.

Tapan Chowdhury, managing director of Square Pharmaceuticals, said, ‘We must protect the gains achieved through recent protests. This requires comprehensive reform across all sectors, including business.’

During the meeting, many business leaders called for a complete overhaul of trade body structures to facilitate necessary reforms.

Mahbubur Rahman, president of the International Chamber of Commerce, Bangladesh, who chaired the meeting, highlighted the issue of hostile takeovers within trade bodies in recent years.

‘To ensure that trade bodies function effectively, we need to be unified beyond political affiliations and focus on improving the economic and business environment in the country,’ he said.

The meeting concluded with a consensus among many leaders on the necessity of overhauling trade body structures to facilitate meaningful reforms.

Abul Kalam Azad, chairperson of Ha-Meem Group, was among the attendees.