Economists on Tuesday underscored stronger preparation of the country’s multilateral trade negotiators to deal with the challenges of upcoming ministerial conference of the World Trade Organization (WTO).
They said that there is a need for more informed understanding about Bangladesh’s key interests in the context of the upcoming ministerial meeting.
The Eleventh WTO Ministerial Conference (WTO MC-11), scheduled to be held on December 10-13 this year in Argentine capital Buenos Aires, is likely to be very critical for the future of multilateral trade regime.
The economists also said that Bangladesh has to be prepared well to deal with traditional agendas as well as new issues. While Doha agendas like Duty-Free Quota-Free (DFQF) market access, service waiver, fisheries subsidies and domestic support in public stockholding of food are already considered as possible deliverables, news issues like e-commerce and Micro, Small and Medium Enterprises (MSMEs) are also in the table now.
Against the backdrop, they suggested that Bangladesh should also actively involve in both agenda building and negotiations. They also underscored strategic coalition building and active engagement in making trade work for economic development.
They mentioned all these things at the ‘Policy Appreciation Workshop on International Trade Issues and Bangladesh Interests’, organised by the Centre for Policy Dialogue (CPD), on Tuesday in Dhaka.
Twenty-six professionals, including government officials, development practitioners, academicians, researchers and journalists took part in the workshop. The workshop included lecture sessions, delivered by CPD professionals, and group discussions by participants.
Sharing his interpretation of the emerging global scenario and what that means for Bangladesh, Dr Debapriya Bhattacharya, Distinguished Fellow, CPD, put emphasis on the need for proactive engagement in the ongoing discussions backed by adequate homework.
In his deliberation, Professor Mustafizur Rahman, another Distinguished Fellow of CPD dealt with key issues of interests of Bangladesh in view of the upcoming MC-11.
He observed that Bangladesh should envisage to make best use of the window of opportunity as an LDC in the WTO, and at the same time, build her supply-side capacities to integrate into the global economy from a position of competitive strength. He argued in support of concrete decisions at the MC-11 towards operationalisation of WTO decisions on duty-free and quota-free market access and services waiver for LDCs.
CPD Executive Director Dr Fahmida Khatun stressed the need for strengthening supply-side capacity by deepening regional cooperation to take advantage of the various preferential treatment accorded to Bangladesh as an LDC in the WTO.
The workshop ended with a certificate awarding ceremony.
