Commerce and Industries Minister Tofail Ahmed yesterday called upon business leaders to help expand the country’s market abroad through diversifying exportables, reports APB.

He said that businessmen should widen their trading networks and establish regular contact with overseas buyers to keep themselves abreast of the products In demand in the world market.

Tofail was talking to the newly-elected executives, including its president Mahbub Jamil, of the Metropolitan Chamber of Commerce and Industry (MCCI) at his office yesterday morning.

He assured the business community that his government would provide allout support to genuine initiatives in increasing export earnings.

He said that the authorities were providing the entrepreneurs with a wide range of incentives to the tune of Tk 225 crore annually to back up their efforts for boosting exports.

Tofail said the present government interacts regularly

with the businessmen and entrepreneurs with a view to expediting the process of industrialisation as well as for increasing exports.

MCCI President Mahbub Jamil, Vice President Asgor Karim. Secretary General C K Halder and other executives extended support to Bangladesh's strategy on issues relating to WTO.

They also expressed their willingness to cooperate with the government in improving the trade ties with India and other SAARC countries.

The leaders raised some issues including formation of Credit Information Bureau (C1B). inclusion of a representative of the users in special tribunal for^ustoms. development of Chittagong port, improvement of power supply and growth in manufacturing sectors.

The MCCI leaders pointed out that Bangladesh had maintained desired industrial growth despite the recent prolonged flooding. They called for Increased long-term industrial

loan facilities for the genuine entrepreneurs.

They also referred to some tariff anomalies, bank rate and problems relating to informal trading.

The minister said the government was encouraging more value added products. At the same time, local value addition requirement to make preferential export to the SAARC countries has also been reduced.

He said the country could now export a good number of products to India and other SAARC countries as local value addition was fixed at 30 per cent.

Tofail said with the derogation of GSP rules of origin in exporting apparels to EU countries. the volume of exports would now go up. He added that the government was also taking care of the expansion of local backward linkage industries.

Regarding removal of tariff anomalies, the minister said the present government had reformed the tariff structure to bring down duties on many items.