Metropolis Desk-
Following Russia’s withdrawal from the Black Sea Grain Initiative on July 17, the heads of six significant trade organizations in Bangladesh have expressed concern about interruptions to the world’s supply chain for wheat.
They warned in a joint statement today that ending the grain pact would not only result in a calamity caused by humans but would also make it more difficult to rein in the already out-of-control global inflation.
Among the signatories were Md Saiful Islam, president of the Metropolitan Chamber of Commerce and Industry, Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry, and Mahbubur Rahman, president of the International Chamber of Commerce-Bangladesh.
Along with Naser Ezaz Bijoy, president of the Foreign Investors Chamber of Commerce and Industry, Sameer Sattar, president of the Dhaka Chamber of Commerce and Industry, Mahbubul Alam, and the Chittagong Chamber of Commerce and Industry are also signatories.
The agreement allowed for the shipment of around 32 million tons of grain to 45 nations across three continents via three Ukrainian ports, with the amount of wheat shipped over the Black Sea to least developed economies staying at pre-war levels.
Importantly, the humanitarian efforts of the World Food Program in Afghanistan, Ethiopia, Kenya, Somalia, Sudan, and Yemen will be disrupted, which would cause millions of people, particularly children, to go hungry, according to the statement.
As a result, it was said, maintaining the facilitation of food and fertilizer exports from Ukraine and Russia is essential to ensuring global food security.
Additionally, the trade organizations asked the relevant authorities to take action to renew the agreement. Despite its ongoing war with Russia, Ukraine can export millions of tonnes of grain through the Black Sea because of an arrangement brokered by the United Nations and Turkey.
The most recent extension of two months ended on July 17.
