Bangladesh should discuss issues related to trade benefits at WTO ministerial conf: speakers at a seminar
- Update Time : Thursday, 8 February, 2024, 07:54 pm
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Online Desk: Economists and experts on Thursday said that Bangladesh should negotiate issues related to trade benefits in the 13th ministerial conference of the World Trade Organization (WTO) not as a least developed country but as a future non-LDC developing country, aiming to make the graduation sustainable.
They said this at a knowledge-sharing session on the ‘13th Ministerial Conference of the WTO: What Stakes for Bangladesh?’ held at the National Press Club in the city.
A think tank, Research and Policy Integration for Development (RAPID), with support from the Foreign, Commonwealth, and Development Office of the United Kingdom organised the programme.
The MC13 will be held from February 26-29 in Abu Dhabi.
Securing an agreement on fisheries subsidies negotiation, embarking on border reforms and dysfunctional dispute settlement system would be the key issues in the conference, they said.
Centre for Policy Dialogue(CPD) distinguished fellow Mustafizur Rahman Mustafizur Rahman said that Bangladesh will have to keep in mind the interest of the developing country during the negotiation in the WTO.
He said that Bangladesh will have to prepare for some reforms as the country would graduate from LDC in November, 2026.
After graduation, Bangladesh will not get TRIPS weaver and the country have to pay for the patent license to produce medicine, he said.
Bangladesh should go for reverse engineering which could allow the country to use the formula without paying any charge, Mustafiz said.
Regarding fisheries subsidy, he said that Bangladesh would face challenges on the issue after graduation as a subsidy would allow for a developing country if its share of the global marine fish catch does not exceed 0.8 percent but the share of Bangladesh crossed the threshold.
Economic Affairs Adviser to the Prime Minister Mashiur Rahman attended the programme as the chief guest.
Former Senior Secretary Sharifa Khan, trade policy analyst Mostafa Abid Khan, RAPID chairman M A Razzaque, Executive director of RAPID Dr. M Abu Eusuf, among others, spoke at the event.
