Trade Organisation Bill placed in JS

The Trade Organisation Bill, 2022 was placed in Parliament on Sunday, aiming to allow the foreign traders to form joint-trade bodies in Bangladesh.

Commerce Minister Tipu Munshi placed Bill and it was sent to the scrutiny committee for further examination. The committee was asked to submit its report within 30 days.

This will replace the Trade Organisations Ordinance, 1961.

The draft law stated that some legal bases have been laid down for the women entrepreneurs in trade organisations through licensing.

A provision has been made for a joint chamber of commerce and industry (between countries) and a chamber of commerce and industry alliance.

The foreign traders will be able to form a joint chamber.

Earlier on December 13, last year, the Cabinet also cleared the draft Trade Organisations Act 2021, which would replace the Trade Organisations Ordinance 1961.