Bangladesh would renew its efforts to pursue bilateral trade within and beyond the region after the recent multilateral trade talks on Doha Round under WTO ended inconclusively, reports UNB.
"We cannot continue waiting for conclusion of the Doha Round," Commerce Adviser Hossain Zillur Rahman Sunday told a press briefing at his ministry on the outcome of WTO mini-ministerial conference in Geneva and the country's future trade strategy.
"Besides the existing markets, we'll try to explore markets in Latin America that remain unexplored," he said, adding that he would lead a business delegation to Latin America during the tenure of this government.
He said local products have potentials in Brazil, Chile and Argentina as well as in some other countries in the region.
The adviser conceived the idea of exploring Latin America during a meeting with the Brazilian trade minister on the sidelines of the World Trade Organisation (WTO) mini-ministerial conference.
He apprised that the Brazilian minister expressed interest in opening up their mission here while Bangladesh would also set up its mission there.
Dr Zillur said Bangladesh would hold a meeting with its three trade-significant missions in Geneva, Brussels and Washington to set future trade strategy of the country.
"Whatever may be the market response, we'll have to widen our product basket to derive benefit out of the initiative," he said.
He was asked about the reason why the government with only less than five months in hand would take such initiative, specially when it would remain busy with holding the general elections.
The adviser replied, "The government has to do everything all together."
He appreciated the private sector initiative to keep up the export growth at about 16 per cent during the last fiscal year (2007-08) despite facing challenges of socio-political unrest during the last two years.
About the mini-ministerial conference, Dr Zillur said Bangladesh had been successful in protecting its interests in the meeting, including ensuring commercially meaningful market access of its products in the developed and developing countries.
Replying to a question, the adviser, who was also leading the political dialogue with parties, said political stability was a must to boost economic growth. "We're on course to end the political instability," he added.
Members of the Bangladesh delegation to the WTO mini-ministerial, including senior officials, experts, researchers and private sector representatives were present at the press briefing.
