Govt readies to face post LDC graduation challenges: PM

Prime Minister Sheikh Hasina on Wednesday told parliament that her government has taken various time-worthy steps to implement plans to face the global trade challenges following graduation from a least developed country.

“The government has already initiated the formulation of a strategy and action plan over Preferential Market Access and Trade Agreement to expand the export market by facing global trade challenges following the graduation,” she said responding to a question from Awami League MP for Manikganj-2 Momtaz Begum.

The prime minister added that Bangladesh has taken initiatives to sign the Preferential Trade Agreement (PTA), Free Trade Agreement (FTA), and Comprehensive economic partnership agreement (CEPA) with different commercially important countries.

Initially, the government has taken a step to sign trade agreements with 10 countries and three alliances on a priority basis, she said adding that Bangladesh signed PTA with Bhutan on December 6, 2020.

The 10 countries are India, Nepal, Indonesia, Sri Lanka, Japan, Singapore, the USA, Canada, China, and Malaysia, she cited.

Besides, a process is underway to conduct negotiations with Turkey, South Africa, Morocco, Mauritius, Senegal, Nigeria, Sierra Leone, Kenya, and GCC countries over PTA, FTA or CEPA, she said.

Referring to the feasibility studies over signing the trade deal with different countries, the Prime Minister hoped that the study, which is now being conducted jointly by Bangladesh and India to sign, will be completed soon.

She added an initiative has also been taken to sign a FTA with China to expand bilateral trade and a joint feasibility study in line with a MoU signed between the two countries.

The process of signing FTA with Sri Lanka continues, which might be inked in March 2022, and the desired progress was also obtained to sign PTA or FTA with Nepal and Indonesia, she added.

She said the proposal for inking PTA/FTA/CEPA with the Maldives has been sent, while an initiative has been taken to form a working group between Bangladesh and Singapore to sign a bilateral FTA.

Besides, initiatives have been taken to have FTAs with Morocco, Nigeria, Kenya, and Sierra Leone, while the feasibility studies were completed to sign FTAs with the USA and Japan, she added.

The prime minister said Bangladesh has also been playing an important role in making APTA, TPS-OIC, and D-8 Preferential Agreement effective.

Due to the successful diplomatic efforts of Bangladesh, she said, the LDCs including Bangladesh have been able to obtain a number of facilities, including the time extension of pharmaceutical patent exemption till 2033 under Trade-Related Intellectual Property Rights (TRIPS). And general exemption was made relaxed for LDCs further for 13 years from 2021 and so, the special facility will remain till July 1, 2034, she added.

Replying to another question from AL MP Didarul Alam from Chattogram 4, the prime minister said the government is determined to build a safe and integrated communication network.

“The government is committed to easing traffic congestion, ensuring comfortable public transport, increasing discipline and security on roads, safe and risk-free roads, and to develop an integrated multimedia communication network by keeping the consistency of the existing system and the changing situation with the future development,” she said.

The prime minister mentioned her government’s efforts and successes for the improvement of the road communication system.

Responding to Nur Uddin Chowdhury Nayan of Laxmipur-2, the prime minister said the government has a plan to set up burn units in all district hospitals for expanding treatment services to patients with burn injuries alongside the existing 500-bed Sheikh Hasina National Burn and Plastic Surgery Institute, 300-bed burn unit at DMCH and the burn units at 13 institutes and medical college hospitals across the country.