Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 481 Sun. October 02, 2005  
   
Business


Rapid trade liberalisation costs Bangladesh dearly
Says Tofail as Batexpo-2005 ends


Former commerce minister Tofail Ahmed yesterday said rapid trade liberalisation has cost Bangladesh dearly as the country has become a market of other nations.

He also said lack of negotiating skills in bilateral trade discussions is hampering Bangladesh's economic growth.

"Our market was rapidly opened to satisfy the World Bank and the International Monetary Fund which was not necessary at all. And we could not pursue our interest properly in the bilateral negotiations," he said while speaking at the closing ceremony of Bangladesh Apparel & Textile Exposition (Batexpo-2005) at Sonargaon Hotel in Dhaka.

Bangladesh must improve its negotiating skills if it wants to protect its interest at the World Trade Organisation (WTO) where important decisions are taken, determining the fate of many countries.

Blaming the present government for making the commerce ministry an inefficient one, Tofail, who is also the presidium member of Awami League, said conflicts among the ministers and lack of coordination between ministries will surely have an adverse impact on the country's economy in the coming days.

General Secretary of Awami League M Abdul Jalil also spoke at the function presided over by Bangladesh Garment Manu-facturers and Exporters Association President Annisul Huq.

Jalil blamed the government for gradually withdrawing cash subsidy from readymade garment sector, which is now facing stiff competition in the global market.

Annisul Huq said the two major political parties should sit together, discuss key issues and come to an understanding for the overall benefit of the country.

The BGMEA president reiterated his stance on declaring only Sunday as weekly holiday.

He also urged the Awami League leaders to keep the buses carrying garment workers outside the purview of hartal.

Picture
Former commerce minister and presidium member of Awami League Tofail Ahmed speaks at the closing ceremony of Bangladesh Apparel & Textile Exposition (Batexpo-2005) yesterday in Dhaka. PHOTO: STAR