Dhaka to seek list of duty-free exports at WTO summit
Wednesday, 4 November 2009
In the forthcoming WTO summit in Geneva, Bangladesh would seek the working out of a clear list of exports from LDCs to be eligible for duty free and quota free access to the developed countries like the USA under the 97 per cent market opening, reports BSS.
It is important to bring thrust to new exports and restructure the country's manufacturing sector, said an official in the ministry of commerce.
Moreover, an endless wait for implementing the duty free offer is changing the entire context of the Doha Development round, he said.
The 97 percent offer came in the Hong Kong summit of the WTO in 2005 barring the remaining 3 percent which may in fact deny any meaningful market access. It needs to be made clear to remove misgivings, the sources said.
The World Trade Organisation (WTO) is going to meet on its 7th summit from November 30 to December 3 in Geneva, the headquarters of the global body spearheading agenda of free trade.
As a fast growing LDC, Dhaka is having a significant stake in global trade and vying to achieve duty free and quota free market access of its major exports such as garments and frozen fish to developed markets, especially to the USA, the source said.
Commerce minister M Faruk Khan will lead a big delegation to the summit, which will include representatives of business, think tanks and senior government officials.
The minister is expected to present a strong case on Bangladesh's demand for free market access and differential treatment in global trade in the summit.
It is important to bring thrust to new exports and restructure the country's manufacturing sector, said an official in the ministry of commerce.
Moreover, an endless wait for implementing the duty free offer is changing the entire context of the Doha Development round, he said.
The 97 percent offer came in the Hong Kong summit of the WTO in 2005 barring the remaining 3 percent which may in fact deny any meaningful market access. It needs to be made clear to remove misgivings, the sources said.
The World Trade Organisation (WTO) is going to meet on its 7th summit from November 30 to December 3 in Geneva, the headquarters of the global body spearheading agenda of free trade.
As a fast growing LDC, Dhaka is having a significant stake in global trade and vying to achieve duty free and quota free market access of its major exports such as garments and frozen fish to developed markets, especially to the USA, the source said.
Commerce minister M Faruk Khan will lead a big delegation to the summit, which will include representatives of business, think tanks and senior government officials.
The minister is expected to present a strong case on Bangladesh's demand for free market access and differential treatment in global trade in the summit.