Bangladesh will press for implementing the decisions of the last ministerial conference of the World Trade Organisation (WTO) in its upcoming meeting to be held in Argentina next month, officials said.
The 10th ministerial conference of WTO, held in Nairobi, Kenya, in 2015, adopted the 'Nairobi Package' containing a series of ministerial decisions.
These include a commitment to abolish agricultural export subsidies, special safeguard mechanism for agriculture for developing countries and preferential rules of origin for the least developed countries (LDCs).
The other decisions cover preferential treatment for LDCs in favour of services and service supplies and increasing LDCs' participation in services and trade, new rules for export credits, international food aid and state trading enterprises.
The 11th WTO ministerial conference (MC11) will take place in Buenos Aires, Argentina, from December 10 to 13.
Argentina will be the first South American country to host the biennial event. WTO members accepted Argentina's offer to host the MC11 at a General Council meeting on October 3, 2016.
Meanwhile, the government, trade bodies' leaders and civil society members have long been calling for implementation of the decisions taken in the previous WTO ministerial meeting following the collapse of Doha Round talks.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Friedrich Naumann Foundation (FNF) have been working together for preserving trade benefits/interests of the least developed countries (LDCs) in the international trade arena.
FBCCI President Md Shafiul Islam (Mohiuddin) told the FE that they are going to hold a programme today (Saturday) to discuss ways to preserve the interests of LDCs in the WTO.
A leader of a trade body said that elimination of all forms of agricultural export subsidies has been a longstanding issue in the WTO's negotiations.
The proliferation of export subsidies in the years leading up to the Uruguay Round was one of the key issues that were addressed in these negotiations and they have remained a heated topic in recent years in the WTO, he said.
While export subsidies for industrial products have been prohibited for over 50 years, such subsidies in agricultural products were only subject to limited disciplines, he added.
The trade-related aspects of intellectual property rights (TRIPS) agreement contains a temporary restraint (a "moratorium") on bringing non-violation complaints, during which time members should discuss any modalities on their application under TRIPS, and make recommendations to the ministerial Conference.
The ministerial conference, attended by trade ministers and senior officials from the organisation's 164 member countries, is the highest decision-making body of the WTO.
The primary objective of the WTO is to open trade for the benefit of all. The WTO members represent 98 per cent of world trade.
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