Bangladesh Trade facilitation Initiative, a project aimed at improving the capacity of the government in implementing the World Trade Organisation (WTO) Trade Facilitation Agreement, was launched on Wednesday.
The 27 million US dollar project is supported by the Foreign Agriculture Service of the US Department of Agriculture.
Commerce Minister Tipu Munshi was the chief guest in the launching ceremony.
The minister said that the government is committed to ensure self-sufficiency in food production and to supply safe and nutritious food.
He also pointed out that making the agriculture sector a profitable venture for the farmers through commercialisation is a major vision of the government.
Addressing the ceremony US Ambassador in Dhaka Earl R Miller said that the US government is keen to support the reform measures taken by the Bangladesh government to ensure a business-friendly environment.
The project will facilitate and incentivise investment, and will improve and expand Bangladesh’s refrigerated logistic network, he added.
The project will work on areas related to simplifying automating import and export processes, strengthening risk-based clearance process, improving notification provisions, developing the capacity and testing procedure of laboratories, and enhancing the cold chain system for facilitation of perishable goods.
Commerce Secretary Tapan Kanti Ghosh hoped that under the programme different trade agencies of the government will work together to implement the WTO TFA measures.
He also expected that the programme will focus on building partnerships between public and private sector and other development partners.
Abul Kashem Khan, chairperson of Business Initiative Leading Development (BUILD) said, businesses demand predictable and harmonised processes and value transparency.
“Global trade opportunities and investment in strategic industries will play a significantly important role in Bangladesh’s further growth aspiration to become an upper middle-income and developed country,” he added.
Land O lakes Venture 37, a US- based not-for-profit economic and agricultural development organisation will implement the project along with the trade related agencies of the government like WTO cell of the commerce ministry, National Board of Revenue, Ministry of Agriculture, Ministry of Food, Ministry of Industries and Ministry of Fisheries and Livestock.