DCCI โCalls โคfor dedicated Commercial Court to boost Investment
Dhaka, Bangladesh – Businesses are citing lengthy judicial processes โasโ a major obstacle to both local and foreign investment in Bangladesh, and the Dhakaโข Chamber of โคCommerce and Industry (DCCI) is advocatingโ for the establishment of a dedicated Commercial Court to address the โgrowingโ number of trade-related disputes. The call to action cameโฃ during a seminar titled ‘advancingโฃ Disputeโ Settlement and Contract Enforcement for Businesses’, organizedโ by the DCCI in the capital on Tuesday.
DCCI Presidentโฃ Taskeen Ahmed highlighted the increasingโค complexity of business disputes alongside the nation’s significantโข economic growth, encompassing issues related to contracts, investments, and intellectual property. He stated that approximately โข4 million cases are currentlyโ unresolved in โBangladesh’s lower and higher โขcourts,contributingโข to the investment โฃslowdown. Ahmed also noted the limited effectiveness โขof the Arbitration Act, passed in 2001, and stressed the need for โexperienced judges and legalโ framework reforms alongside the creation of a โคspecialized Commercial Court to accelerate trade and investment.
European Union Ambassador and Head of Delegation, โฃMichael Miller, affirmed the EU’s close collaboration withโข the Bangladeshi government on legal reforms, emphasizing the potential for improved โขqualityโ of life. Heโข underscored the crucial role โขof Commercial Courts in attractingโฃ foreign investment as Bangladesh progresses towards Least Developed Country (LDC) graduation and pursuesโข export diversification. Miller also indicated European companiesโ have a strong interest in investing in Bangladesh’s logistics and shipping sectors, and that strengthening arbitration mechanisms would โhelp alleviate current investment stagnation.
Mahbuburโค Rahman,Secretaryโ of the Ministry ofโ Commerce,acknowledged the overwhelming pressure on the judiciary dueโ to โtheโ country’s high population density and the resulting increase in court cases.โ he suggested that resolving โฃtradeโข disputes outside โขof โคtraditional courts would significantly improveโ the business climate. Rahman announced โthat the process of establishing a Commercial Court is currently underway, with โa draft expected to be finalized โฃwithin a month.
Md Abdur Rahim โขKhan,โฃ Additional Secretaryโ (Export Wing) of โฃthe Ministry of Commerce and Vice Chairman of โthe Export Promotion Bureau (additionalโ charge), explained that delays in dispute resolution negatively impact both Foreignโค Direct Investment (FDI) and export expansion. He proposed the creation โof “legal institutions” seperate from traditional courts to facilitate quicker dispute resolution through negotiation.
The seminar featured โคa โฃkeynote โpaper presented by Barrister Md Sameer Sattar,โฃ former president of the โฃDCCI, and included โparticipation fromโ officials of the Bangladesh Investment Developmentโ Authority, the Bangladesh International Arbitration โคCenter, โคjudges, representatives โฃfrom internationalโ consultancy firms, andโ DCCIโ leaders.
