Page 14 - November-December-2020

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Bangladesh commences formal

negotiations with ASEAN for a

free trade agreement

Bangladesh recently initiated formal negotiations Bangladesh is at present at the final stages of its
with the Association of South East Asian Nations negotiations with Indonesia for a preferential trade
(ASEAN) for a free trade agreement (FTA) to enjoy agreement (PTA) for duty privileges on select goods
greater market access in the bloc after graduating traded between the two countries. However, the
from the least developed country (LDC) group. An negotiation is now facing a stalemate since
FTA will do away with the need to sign bilateral Indonesia disagrees with some terms, particularly in
agreements with the 10 ASEAN member nations. regards to some major export items such as
Commerce secretary Mohammad Jafar Uddin garments, under the proposed PTA.
signed the negotiation letter, according to bangla
media reports. Bangladesh foresees the ASEAN By 2030, the ASEAN region will be the fourth-largest
region, which has a consumer base of 642 million, economy in the world. Its GDP increased from
as a big market. $2,373 billion in 2007 to $4,034 billion in 2016.

Renowned

businessman

Siraj Kassam

Teli passed away

At the age of 67, Siraj Kassam Teli passed away on truth with courage that got him the respected and
December 8, 2020. His sudden death is a loss for well deserved recognition.
Pakistan. His efforts and involvement in the textile
industry will forever be beneficial and remembered. He helped shape the KCCI, he SITE Association of
Industry by bringing in the progressive changes in
Born in Karachi in the year 1953, Siraj Kassam Teli trade politics. He also did revolutionary social work
Came from a famous family that had their roots in the and public service.
business industry since the birth of Pakistan, Teli was
himself a prominent industrialist. Moreover, for the It was due to his courageous acts and his devotion
past 25 years, he was the chairman of the business- to the business industry that he was awarded the
men group, it was his remarkable style of leadership Sitara-e-Imtiaz for his contribution to the national
over the industrial sector and business, his habit of economy and public service by Government of
always standing up for what is right and speaking the Pakistan.

November/December 2020