Bangladesh seeks more WTO support to boost trade capacity


19th July, 2016 07:51:04 printer

Bangladesh seeks more WTO support to boost trade capacity

Bangladesh has sought enhanced support from the World Trade Organization (WTO) to boost its trade capacity and benefit from trade opening saying the support Bangladesh now getting from the WTO is not enough.

“The support, being provided by the WTO to Bangladesh, is not enough. It needs to be increased,” said Commerce Minister Tofail Ahmed, now in the Kenyan capital of Nairobi, during his meeting with WTO Director General Roberto Azevêdo on Monday.

He said Bangladesh’s trade capacity will increase significantly if the WTO increases its support with special consideration under the Enhanced Integrated Framework (EIF) and the Aid for Trade initiative saying Bangladesh is the most densely populated country among LDCs.

Aid for Trade is about helping developing countries, particularly the least developed ones, to build the trade capacity and infrastructure they need to benefit from trade opening while the EIF supports the least developed countries to use trade as a vehicle for economic growth and poverty reduction.

Bangladesh’s population is now over 16 crore but the WTO is considering Bangladesh like other LDCs, said the Commerce Minister.

Bangladesh has huge human resources who can be turned into skilled forces by providing required training and technical supports; Tofail was quoted as saying in a handout on Tuesday.

During the meeting at Kenyatta International Conference Center, the Commerce Minister urged the WTO DG to support Bangladesh’s initiative for duty- and quota-free market access for LDCs to the developed nations.

The WTO DG assured of enhancing support to Bangladesh and expressed satisfaction over the trade growth and overall ongoing development in Bangladesh.