BUSINESS

Traders have offered various suggestions for the WTO conference

As a member of the World Trade Organization (WTO), Bangladesh has the opportunity to export its products through duty-free facilities but many countries are not providing this facility. The issue will be raised by Bangladesh at the twelfth ministerial meeting of the WTA to be held next month and the realization of duty-free benefits will be ensured, said Bangladeshi businessmen. At the same time, even after the transition from Bangladesh to the LDC-listed countries, it will be demanded to continue the LDC facility in the field of trade till 2041, said the traders.

 

The twelfth ministerial meeting of the WTO is going to be held in Geneva, Switzerland from June 12 to 15. A government delegation led by Bangladesh’s Commerce Minister Tipu Munshi is scheduled to attend the conference. Currently, 164 countries are members of the WTO. Bangladesh is the most influential country in the LDC group. This year’s conference is very important for Bangladesh as it is in the transition stage from LDC.

Traders have offered various suggestions for the WTO conference
Abdul Matlub Ahmad, former president of FBCCI & president of India-Bangladesh Chamber of Commerce and Industry

Abdul Matlub Ahmad, former president of FBCCI, the apex body of businessmen, and president of India-Bangladesh Chamber of Commerce and Industry, said: As an LDC country, Bangladesh is supposed to get duty free facility for the export of goods but since 2005 Bangladesh has not been getting it in the US market. Not only Bangladesh but many other countries are not getting this benefit. This issue should be strongly raised in the meeting. This is our right. At the same time, the wars in covid 19 and the Russia-Ukraine war have hurt the economies of LDCs like us. In terms of trade, we have to demand various concessions from the United States and European countries.

and president of India-Bangladesh Chamber of Commerce and Industry
Md. Hatem, Executive President of BKMEA

Md. Hatem, Executive President of Bangladesh Knitwear Manufacturers and Exporters Association BKMEA said the same. He said Bangladesh, as a member of the WTA, should get duty-free access to exports, which is available in many countries. This issue should be raised strongly in the meeting. At the same time, we are now getting the priority benefits, this effort will be made to ensure that it continues till 2041.

Ministerial Conference is the highest policy-making forum of the World Trade Organization. Which is held every two years. The last conference was held in 2017 in Buenos Aires, Argentina. The conference was not held in 2019. The conference was announced to be held in Kazakhstan in June 2020. But in the end, it didn’t happen because the corona infection spread. In the second phase, after full preparations for the conference from November 30 to December 3 at the organization’s headquarters in Geneva, it is suspended due to the new virus Omicron.

 

Shamima Dola

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