Experts on Thursday stressed the importance of law and necessary amendments to strengthen fair business practices.

The Foreign Investors’ Chamber of Commerce and Industry (FICCI) hosted a consultation session titled “Competition Act 2012 and the Func-tions of the Bangladesh Competition Commission” at its conference hall.

The session was chaired by FICCI President Zaved Akhtar, with Bangla-desh Competition Commission Chairperson AHM Ahsan attending as chief guest.

Highlighting the significance of the law, AHM Ahsan said: “The Competi-tion Act is a cornerstone for a healthy free-market economy. Enacted in 2012, it empowers the Commission to curb cartels and syndicates, pro-tect consumer interests, and foster investment. Effective enforcement will encourage innovation, create jobs, and drive sustainable economic growth.”

FICCI President Zaved Akhtar reaffirmed the chamber’s commitment to fair business practices, stating: “FICCI represents nearly 200 leading companies from 35 countries across 21 sectors. Our members believe in fair competition and a level playing field. We want a strong and effective law that protects both industry and consumers, while ensuring regula-tions do not unintentionally hinder business growth.”

Moderated by FICCI Executive Director TIM Nurul Kabir, the session fea-tured inputs from officials of the Competition Commission and repre-sentatives of FICCI member companies, who shared views on imple-mentation and possible amendments to the law.

FICCI Board Member Sumitava Basu, senior Commission officials, and representatives of member companies were also present.