Country might face setback, as govt dithers over WTO's 'Aid for trade'

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A lack of preparation by the government may cost the country heavily in terms of the World Trade Organisation's (WTO) 'Aid for Trade' (AFT) package, which assists the developing nations cope with the globalisation issues, Commerce Ministry officials said, reports bdnews24.com.
The WTO members will attend the first global AFT review meeting in Geneva on November 20-21. Their aim is to enable the developing and the least developed countries (LDCs) with funds to increase their integration into the world trade system.
Other priorities include strategies on how the developing nations can use trade more effectively to eradicate their poverty.
"We are not giving due importance to the issue. We have not even developed a strategy to proceed effectively," a senior Commerce Ministry official, who asked not to be named, said.
The WTO recently held three regional meetings - in Peru, the Philippines and Tanzania - in preparation for the upcoming talks. Findings from the meetings will be factored into the WTO's AFT review meeting in Geneva.
"We are not at all prepared. The Finance and Commerce Adviser and the Commerce Secretary, both of whom attended the regional meeting in Manila in September, have not yet given the ministry any feedback," the official said.
WTO and the Organisation for Economic Cooperation and Development jointly sent a questionnaire to Bangladesh in July, requesting them to assess their need for the AFT programme. Bangladesh is yet to answer those questions.
"We are currently preparing answers to those questions," Commerce Secretary Feroz Ahmed said.
Commerce Ministry officials said, the country needs to prepare a strategy to address the specific challenges it faces in today's globalising market.
"Aid is required to improve constraints in infrastructure and specifically ports to cope with the changes in global trade patterns," said a Commerce Ministry official, who deals with the WTO.
The official pointed to the need for better training for the farmers on pesticide use and disease control. "If one country fails to adhere to food safety norms, it may endanger the whole world."
Funds are also needed to help the poor nations meet the retailers demand for documented proof that food, animal and plant imports and exports pose no health risk to the consumers, the official added.
The Commerce Secretary said, "We've already submitted some trade-related project proposals to the WTO."