The Financial Express

Strategic ACD value chain initiatives highlighted

| Updated: January 23, 2021 10:16:05

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Strategic ACD value chain initiatives highlighted

The first virtual conference of the Chambers of Commerce and Industry (CCI) of the Asia Cooperation Dialogue (ACD) member countries was held on Wednesday with the participation of the national Chambers in ACD member-states with focused on exploration of areas to improve connectivity, ACD-trade relations and cross-border harmonization.


The President of Union of Chambers and Commodity Exchanges of Turkey (TOBB), M. Rifat Hisarciklioglu chaired the dialogue while the Minister of Trade, Republic of Turkey, Rushar PEKCAN made the key note speech. Dr. Pornchai Danvivathana, Secretary General of ACD also addressed the occasion.  Business leaders from 35 member countries spoke on the economic state of play in ACD member countries.

TOBB President spoke about the importance of business connectivity, cooperation, dialogue, and solidarity as Asia has become the hub of manufacturing.


Minister of Trade, Turkey emphasized on the mutual cooperation to face the year of recovery after the pandemic. She implied the significance of collaboration among the members of ACD that is paramount at the current situation.


The President of FBCCI, Sheikh Fazle Fahim talked about the strategic ACD value chain initiatives and maximizes each others’ comparative advantages with raw materials, knowledge, expertise from ACD member countries for respective domestic industry while maximizing production competitive edge of Bangladesh, export to ACD market and beyond, maximizing ACD value chains with global implications based on shared resources and knowledge.


He emphasized on joint investment and R&D in the areas of skill development, e-commerce, manufacturing, food processing, agro mechanization, equipments, light engineering, seed development, agri-tech, energy, water, MSMEs, innovation, startup ecosystem, minerals, chemical, automobile, motorbike industry component,

fishing, service cooperation in shipping and tourism, and ACD value chain initiative etc.


Furthermore, he apprised the government of Bangladesh covid19 response, the comprehensive stimulus package of US$ 14.60bn (4.44% of GDP) under 23 categories. In addition to the government’s response, FBCCI advocacies in fiscal and non-fiscal, CMSMEs, budgetary tariff interventions to absorb shock in 2020 and the process is in continuation to sustain trend of last year, which were well managed and recovery in next two years, he underscored.


Vice President of Investment Office, Republic of Turkey, Ahmet Ihsan ERDEM made a presentation on business opportunities of Turkey while Prof Dr. Guven SAK, Managing Director, Economic Policy



Research Foundation (TEPAV) made presentation on the “Future Agenda for the Business Community in the Post COVID Era of the Asia Cooperation Dialogue Member Countries”.


Established in 2002 as an intergovernmental forum with the pursuit to enhance cooperation between Asian countries to ensure coordination between different regional organizations, Asian Cooperation Dialogue (ACD) is the first international organization covering the entire Asian geography. ACD has 35 members from different regional organizations including ASEAN, SAARC, CICA, OIC, GCC, Eurasian Economic Union and SCO member countries.

As the side-line event of the Foreign Ministers Meeting of the Asian Cooperation Dialogue (ACD) the Virtual Conference of the Chambers of Commerce and Industry (CCI) of the ACD was held.


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