Sources said the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has so far signed cooperation agreements with the apex trade bodies of 35 countries to improve bilateral trade and investment ties. However, it has regular contacts with trade associations of 15 countries while the rest agreements remain ineffective due to lack of follow-ups and FBCCI's inadequate institutional capacity.

"The main reason for non-functioning of the agreements is lack of follow-ups," FBCCI President Mir Nasir Hossain said.

"It depends on the interest of both the parties. If both the parties are interested, such agreements become effective," he said adding that improving the capacity of the apex trade body will help nurture the cooperation accords.

Abdul Awal Mintoo, former president of the FBCCI, said, "FBCCI lacks adequate institutional capacity to take care of these cooperation agreements."

Mintoo referred to Singaporean government's support to its apex trade body for trade facilitation measures and said: "Our government should give funds to us so that we can work effectively on facilitating trade to tap the potential of exports."

"Otherwise the prospects of building a vibrant trade relation with other countries will remain elusive. Exports will not increase in line with the expectations if we cannot utilise the benefits of such cooperation agreements," he said.

On the fund crisis, Mintoo also said the FBCCI like other apex bodies in several countries should be allowed a corporate membership to augment its income.

Sources said the FBCCI has contacts with national trade organisations of countries such as China, Indonesia, Japan, South Korea, Malaysia, Oman, Singapore, Saudi Arabia, Russia, Taiwan and Vietnam.

Of the Saarc countries, it has contacts with all the apex trade bodies excepting any in the Maldives.