AmCham president Syed Ershad Ahmed on Sunday said that constructive dialogue on counter-tariffs could yield positive outcomes.
鈥楾his is not unique to us; many countries face similar issues. As our capacity grows, our bargaining power in these discussions will also increase,鈥� he added.
He was speaking at an event titled 鈥楩ostering Sustainable Investment鈥�, organised by the American Chamber of Commerce in Bangladesh in the capital.
He also said that his organisation has discussed importing cotton from the US and customs reforms with relevant stakeholders, including BIDA.
The event was attended by business leaders and representatives from various sectors, focusing on opportunities and challenges for sustainable investment in Bangladesh.
The chief guest of the event, environmental affairs adviser Syeda Rizwana Hasan, said that the government is in the final stages of approving 鈥業ndustrial Water Use Guidelines鈥�, a policy regulating groundwater extraction for industrial use.
She also said that under the upcoming policy, industries would no longer be able to extract groundwater freely and without cost, as has been the practice for many years.
鈥楾he finalising of the policy doesn鈥檛 mean the industries have to pay immediately, but gradually they have to pay for groundwater and they have to lower the consumption of the groundwater,鈥� she added.
She also said that to ensure a sustainable investment atmosphere, it is essential to practice sustainability by recycling and consuming less electricity, water, and chemicals.
鈥極nce industries start paying for water, they鈥檒l use it more responsibly,鈥� she added, saying that if resource-intensive economies continue to consume disproportionately, no global sustainability framework will hold.
She said that the textile sector introduced some commendable innovations, such as waterless dyeing models. She also called for stronger chemical safety regulations.
鈥榃e鈥檙e waiting for a binding chemical management rule for the textile sector. It鈥檚 a public health imperative,鈥� she added.
Regarding the US tariff, she said that there is no need to create panic about the US tariff repeatedly, and the government is taking all necessary measures.
Regarding the energy sector, she added that the government鈥檚 recent adoption of the Renewable Energy Policy sets an ambitious target of achieving 30 per cent renewable energy by 2030.
鈥楤angladesh鈥檚 journey toward energy sovereignty must begin now. Every government office will need to install renewable energy facilities,鈥� she added.
She also said that after the Rana Plaza collapse, many predicted the garment sector would collapse entirely.
鈥楤ut because the government and businesses worked together, the industry was able to recover. If we move forward together, all obstacles can be overcome,鈥� she added.
She also said that sustainability shouldn鈥檛 be seen as a producer鈥檚 burden alone; the cost must be shared fairly by both buyers and producers.
Fehmi M Y眉ksel, chief transformation officer of Recover, presented the keynote, where he stated that if the Bangladesh鈥檚 readymade garment sector can adopt sustainability, the growth rate may increase by 10-12 per cent.
He also stated that sustainability may uplift the brand鈥檚 profit by 6 per cent. For this reason, 85 per cent of leading brands declared sustainability targets for their supply chains.
The keynote also stated that in Bangladesh, recycled cotton has the potential to create value in the global market, optimise imports, attract foreign investment, create jobs, and accelerate economic impacts.
