Commerce Minister Tipu Munshi on Thursday said that there is a need to move forward with a long-term plan to expand the export markets and also to increase the country’s exportable items considering the smooth LDC graduation.
“There is a huge scope for increasing the export of RMG items and we need to capitalise on this opportunity,” he said while speaking at working session 1 (Preferential market access and WTO issue) and working session 2 (investment and export diversification) under the “National Seminar on LDC Graduation” at a hotel in Dhaka.
The Seminar was organised by the Economic Relations Division (ERD) under its ‘Support of Sustainable Graduation Project’.
The minister said that since Bangladesh would have to face many challenges for smooth LDC graduation by 2026, massive preparations have been undertaken to face these challenges.
He informed that the government has been working with due priority to sign Preferential Trade Agreements (PTAs) and Free Trade Agreements (PTAs) with different countries to gain various trade-related benefits.
Tipu also said that the government wants to move ahead to accomplishing its tasks properly in line with the rules and regulations of the WTO while the country also aspires to attain the SDGs by 2030 and become a developed country by 2041.
He mentioned that all the concerned stakeholders would have to perform their duties properly from their respective positions since the country would have to shoulder many responsibilities following the LDC graduation.
“The RMG as being the largest exportable item of Bangladesh and has made a big market in the EU, USA and also in India,” said the minister.
He highlighted that some 100 special economic zones are being set up across the country to attract both local and foreign investments while the construction work of many of those is close to complete.
The Commerce Minister informed that many firms have started their commercial operations in these economic zones.
Principal Secretary to the Prime Minister Dr Ahmad Kaikaus moderated the working session 1 where Senior Secretary of the Ministry of Commerce Tapan Kanti Ghosh presented the keynote paper. Deputy Head of EU Mission Bernd Spanier and RAPID Chairman Dr Mohammad Abdur Razzaque spoke as panellists.
Senior Secretary of the Prime Minister’s Office Md Tofazzel Hossain Miah presented the key-note paper at working session 2 where Foreign Secretary Masud Bin Momen, DCCI President Rizwan Rahman and UNDP Bangladesh Country Economist Dr Nazneen Ahmed were the discussants.
