Trade Preference Erosion from WTO Rules
Bangladesh may face $400m loss a year
Says CPD executive director
Star Business Report
Bangladesh may face a loss of around $400 million a year due to trade preference erosion stemming from the WTO trade rules, Debapriya Bhattacharya, executive director of Centre for Policy Dialogue (CPD), said yesterday."The county should raise the issue at the upcoming WTO discussions to create compensation mechanism for the trade preference erosion loss. If the developed and developing countries allow duty free entry of Bangladeshi products, the loss can be minimised," Bhattacharya said at a seminar titled 'World Trade Discussion: Doha Development Round and Bangladesh," held at the VIP lounge of the National Press Club. Karmajibi Nari, a non-government organisation working to ensure the rights of working women, organised the seminar against the backdrop of the upcoming WTO general council meeting. Journalist Mohammad Mahfuzullah coordinated the seminar with Karmajibi Nari President Shirin Akther in the chair. Bhattacharya said the third-world countries may not be benefited much from the WTO development rounds as these discussion sessions speak for about $280 billion trade benefit of which 60 percent will go in favour of developed countries. The executive director of the independent think tank said Bangladesh is putting emphasis on free movement of natural persons but it is unlikely to get success in that case due to changing world scenario. He said Bangladesh will face loss again if the agri-subsidy in cotton is reduced in the discussion as the country needs to import yarn and fabric for its main export item-- readymade garment. He criticised the commerce minister's claim that India will allow duty free entry of all Bangladeshi products to its market saying that 'the declaration is premature'. UNB adds: Former commerce minister Amir Khosru Mahmud Chowdhury said, "If we want to win the negotiation in any trade-off deal of bilateral or multilateral nature, we have to really enhance our technical capacity to deal with the matter… there is no other option." Formar ambassador Waliur Rahman said, "We often lose at the negotiation table in international forums due to lack of adequate preparation." An official of the WTO cell of the commerce ministry, Sharifa Khan, said the government has so far "successfully dealt with the trade issues in the international negotiations." "It's not true that the government, without consulting the trade bodies, is unilaterally dealing the trade-related issues in the WTO," she said. There is a WTO advisory council comprising private sector businesspeople and government officials and researchers, which is "working very actively to set out the country's strategy" to negotiate in the international forum, she added.
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