Iqbal wants corporate culture in Bangladeshi business community

British Bangladesh Chamber of Commerce (BBCC) was founded in 1991 to promote bilateral trade between the two countries and strengthen ties with Bangladesh Federation of Chambers of Commerce and Industry. The present chairman of the BBCC is Iqbal Ahmed OBE himself is a known businessman and owns Seamark Group. BBCC has 25 directors who help and guide the businessmen on voluntary basis. Their vision is to make the organization a representative body of all Bangladeshi entrepreneurs working in UK and Europe. Addressing issues confronting the Bangladeshi business community is its mission. It gives business excellence awards every year to encourage the young and emerging businessmen. The Asians interviewed Iqbal Ahmed about formation of the chamber and issues faced by NRB business community.

The Asians: What prompted to form BBCC?
Iqbal: The body was formed 20 years back to promote British companies in Bangladesh and companies of that country here. However, when this Chamber was formed the Bangladeshi business community was very small in number. Its purpose is to promote small and large business and make mutual contacts and network more effective, besides encouraging mainstream business community to invest in Bangladesh in order to create job opportunities as well as boost local business. It provides counselling and guidance to its members in their business through organising seminars, conferences, network events and panel discussions. We are presenting Bangladesh in UK as a brand country. Meet Bangladesh is one of such activities. BBCC has 25 directors all successful businessmen. We also arrange visits for businessmen to review different business sector in Bangladesh.

The Asians: How much increase is witnessed in business volume after setting up of the Chamber?
Iqbal: That I cannot exactly say as I don’t have the figures but the increase is tremendous as hundreds of thousands of new jobs have been created on both sides. Many of our directors have invested in food distribution, garments, real estate, power generation ship building, airline and hotel industry.

The Asians: How does BBCC help promotion of entrepreneurship in Bangladeshi community?
Iqbal: In my opinion Bangladeshi companies should make investments in this country as they have better chances to progress here, in America and Europe like Indian business giants that are purchasing big company houses here. Middle Eastern and Chinese companies are also investing here. Majority of Bangladeshis come here for studies and on completion return home for doing business there. The second and third generation Bangladeshi in this country who are educated and full of confidence prefer to do business here. In this connection we are also lobbying. We have had meetings with the Finance Minister and Central Reserve bank that they should be allowed to bring capital for investment. Bangladeshi home remittances are over $10b. If they invest this amount here instead of sending to their country Bangladesh would be benefitted two times more. We are in touch with different departments in Bangladesh in this regard.

The Asians: British government has capped immigration especially from South Asian countries. Do you think this would affect catering and other industries?
Iqbal: Surely this would create problems in these fields. But this government is not the only one to take such action as every government after coming to power make changes in laws. But the present government is making cuts not only on immigrations but all other sectors too. It is slashing social welfare and all other grants. Bu in my opinion, there should be no capping on immigration. So far as Bangladeshi immigrants are concerned they don’t depend on public money and work in hotel and restaurant industry which is a big support to the British economy. I do hope that the present policy would be softened.

The Asians: Did you inform the government of the problems faced by your members?
Iqbal: Yes we have informed the government about the problems being faced by workers and members of catering and other industries. We need our people for ethnic products such as curry and fish in production and sale. Local and European people know little about these products. Keeping in view these difficulties the future immigration policy should be relaxed. We should also put pressure on the government to relax this restriction. But since this is a new government let us see how it runs the affairs.

The Asians: What is the present volume of bilateral trade between the two countries and to what extent it could be raised?
Iqbal: Garment is the largest sector that offers good future prospect while IT is the second after frozen food for investment. You must be surprised to know that we import push cycles in England worth millions of pounds. So far as statistics are concerned Bangladesh export to England has risen from £46m to £1.2b by now. At the same time we are also encouraging British exporters to do business with Bangladesh. There is much scope in textile, garments, services, machinery and engineering sectors.

The Asians: Is there any formula to fully exploit the Bangladesh potential?
Iqbal: In my opinion British companies and consultants can benefit from Bangladesh’s service industry as there is a need to develop infrastructure. Much scope is also available in Railway, road and ship building sectors. I must say that Bangladeshi government should hold consultancy with England on these points.

The Asians: What facilities and incentives are available for British companies in that country?
Iqbal: The major investors in Bangladesh are British companies. They have invested in almost every small and big business including mining, research, education, civic resources and banking sector. For non return Bangladeshi living here medical, education and all other sectors offer vast scope in that country and I think it would be big service to the motherland. Bangladesh’s real potential is its man power. Its 65 per cent of the population is below 25 years of age who are educated and full of confidence and are best for industrial sector.

The Asians: In your view point what step should Bangladesh government take to attract foreign investors?
Iqbal: We are promoting Bangladesh from our platforms as brand name. But public sector and the government support and participation is a must. There are some issues such as corruption, red tape but profit margin is also big. 100 percent investment is permitted while profit and the capital could be taken back to their country. Bangladesh government is very liberal in foreign investment while private companies are also interested in joint venture.

The Asians: India is being emerged as a big power in the region. How do you see its progress?
Iqbal: I consider India as a role model for the countries of the region. It’s very advance in education and manufacturing but Bangladesh is also not for behind it and I think that India and Bangladesh could benefit from each other’s potential. Although Bangladesh has achieved big progress, it is still a poor country. I would suggest that the European countries instead of giving aid should help it in standing on its own feet. England is the biggest market for Bangladesh while Bangladeshi products could be marketed in Italy, France and Germany very easily. America is also a big market for Bangladesh garment. New markets could be explored with increase in garment production. Bangladesh Government recognises the significance of BBCC and we also extend all cooperation with it and are trying to increase bilateral trade.

The Asians: You are a role model for youth. How did you begin your practical life?
Iqbal:  I came here with my parents in 1971 at the age of 15. I was born in Sylhet. My father started his business in 1976. Twenty five years back on completion of my education I started helping my father in his business. We worked hard to spread our business. Queen Elisabeth II decorated me with OBE in 2001 in recognition of my services to promote international trade. My two brothers Kamal and Bilal are also in business with me.  I have two sons and one daughter.

The Asians: How does Seamark Group works?
Iqbal: We started our journey with sea food processing. Now we are exporting more than 1000 items, through out the world, including fish, shrimps, poultry, dry food, frozen fruit and vegetable. We have our branches in over 23 countries. Basically we are working as frozen food processor.

The Asians: From where do you procure your products?
Iqbal: We import our items from Bangladesh, China, Brazil, Far East, Vietnam and other countries. Russia, Europe and America are our main markets. We produce new items by mixing different ingredients.

The Asians: Did you experience any discrimination, problem or impediment in reaching this position?
Iqbal: In my opinion discrimination is there in some form or the other. If someone struggles in positive way he would feel no problem. I still remember that I found it very difficult to get first order for my product as my customer did not believe that I had my own factory in England and took me an agent of some English company. Problems are there but the real test is to face these challenges with courage. I want to see real corporate culture in Bangladeshi community.

The Asians: Would you like to give some tip to new businessman?
Iqbal: I would just tell them that there is no harm in dreaming but for this they should have right vision and plan. They should not be afraid of any challenge as it could be their first step of success.