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Foreign Investors' Chamber of Commerce and Industry (FICCI) was formed in chittagong on 1 July 1963 under the companies act VII of 1913. Initially, it was known as the Agrabad Chamber of Commerce and Industry and was set up at the initiative of foreign companies located in and around Chittagong. During this period, most foreign companies, especially British, had their establishments located in that region of the country. In 1987, the Secretariat of the Chamber was shifted to dhaka
and the chamber assumed its present name. FICCI is a non-profit, service-oriented business association of companies having at least 50% equity capital owned by foreigners and/or companies in which the share of foreign capital is less than 50% but where foreigners have 100% management control. All such companies can become ordinary members, while joint venture companies having less than 50% foreign shares in equity can be associate members. At present, the total number of members of FICCI is 123. The main objective of FICCI is to promote and protect the business interests of its members. It renders assistance and advice to the government of Bangladesh and concerned agencies/authorities to help promote growth of trade, commerce and industry of the country in general and foreign investors in particular. FICCI participates actively in the efforts that promote growth of the nation's industrial and commercial base and establishment of just and equitable principles in the domain of trade, commerce, and industry. It liaisons with other trade organisations at home and abroad and with concerned government agencies/authorities for exchange of information and views. As an 'A' class chamber, FICCI is affiliated with the Federation of Bangladesh Chambers of Commerce and Industry (fbcci) and maintains links with the International Chamber of Commerce and Industry, Paris, the International Trade Centre, Geneva, and the World Trade Organisation, Paris. The Chamber is represented in various consultative and advisory committees of different government ministries and agencies. [Abul Kalam Azad]
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