Make Trade Organisations Effective

Abstract

Private sector’s contribution to economic development specifically GDP growth, investment promotion and employment generation is remarkable today, therefore private sector is considering as the engine of growth not in least developed but also in developing & developed countries as well. Therefore it is expecting that the government will be nourishing private sector as development partner, in other way we can state that, private sector should be considering as partner to economic development and stakeholder in policy formulation. Private sector business is becoming more challenging, competitive and complex day by day. To face multi-phase challenges of future private sector needs strong and effective Trade Organizations / Trade bodies through which it can obtain the techniques of absorbing the shock of divers and complex challenges of international business and also lobby to safeguard the interest of the sector. With above mentioned objectives in mind, Bangladesh Private sector entrepreneurs have established about 508 trade bodies / Trade organizations so far. Among these 508 trade organizations there are 86 chamber of commerce (district chambers, women chambers, metropolitan chambers etc.), 20 joint chambers and 402 sectoral associations. These trade organizations are two types in nature namely the chamber of commerce & sectoral associations. The Chamber of Commerce is mainly locational / district based trade organizations and the sectoral associations are sector specific but nationwide trade organizations.