Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) sought technical assistance from the Aslan De-veropment Bank (ADBI Io develop Its institutional capability to counsel the private sector for surviving global competition. reports UNB.

The private sector enterprises need to Improve quality of products and management skill to stand up to the re-?uircment of WTO trade regime. BCCI President Abdul Awal Mlntoo told the visiting ADB president yesterday.

ADB President Tadao Chino, who arrived in the city Sunday on a three-day visit, exchanged views with business leaders at the FBCCI office prior to signing (he Poverty Reduction Partnership Agreement with the government.

The FBCCI president, seeking increased equity and loan support to private sector for building investment confidence and attracting FDI, pointed out that Bangladesh's snare under this category of ADB funding has so far remained relatively very small.

The Bank's cumulative private sector fund approvals during 1983-1996 period for Bangladesh amounted to 35.86 million US dollar against $400.3 million for Pakistan. $229.4 million for Philippines

and $254.8 million (or Indonesia.

Mlntoo said that although the government on paper recognised private sector as the engine of growth, but in reality the sector did not gel the Importance and support It needed.

He expected ADB's role In overcoming the bottlenecks to stimulate private sector Investment in Bangladesh He also sought ADB's cooperation in major capital-intensive areas like energy, road transport, port facilities and telecommunication.

The chief of Bangladesh's apex private sector trade body painted a grim picture of economy In the country saying that private investment declined sharply in last three years mainly In manufacturing sector.

The export situation has also deteriorated sharply, he said.

"The capital market has collapsed as a means of financing private sector investment and the banking system has provided little long-term loans for several years," Mlntoo pointed out.

He also informed the ADB chief of no progress in privatisation, unsatisfactory development in infrastructure, poor port situation and little reform

programmes.

The FBCCI president questioned the donors' Interest In those areas He said The power of the donor communities has been used to bully the government Into unrealistic and inappropriate policies."

In response. ADB President Tadao Chino explained the Bank's new private sector development strategy having thrust on creation of enabling environment, generation of business opportunities, providing catalytic support and Increased funding to private sector projects.

He also gave an elaborate account of various measures to be taken to achieve these objectives.

The ADB president assured the .Bank's support to sub-regional cooperation among Bangladesh, Nepal. Bhutan and northeastern India, a long demand of Bangladesh business community.

FBCCI vice president MA Mumln. former president of Foreign Investors' Chamber of Commerce and Industry (FICCI) AKM Shamsuddfn. former president of Dhaka Chamber MH Rahman. American Chamber (AmCham) president Forest E Cookson and FBCCI director Dewan Sultan Ahmed took part in the discussion.