To ensure sustainable graduation of Bangladesh from the group of the least developed countries (LDCs), the government needs to engage in trade and pursue investments through strategic policies.
Policy reforms that focus on upgrading infrastructure, institutions, capacity building, leveraging technology, and focus on incubating productivity-based competitiveness in contrast to preference-based, will also be crucial to sustaining the transition from LDCs.
According to the think-tank Centre for Policy Dialogue (CPD), Bangladesh needs to negotiate with its major regional-trading partners to pursue investments through Regional Trade Agreements (RTA) or Free-trade-agreements (FTA) such as that of Closer Economic Partnership Arrangement (CEPA).
The think-tank made the recommendation during a virtual dialogue on Thursday about Bangladesh's role, opportunities, and prospects in the upcoming 12th World Trade Organization Ministerial Conference (WTO-MC12).
The virtual dialogue titled "Upcoming MC12: Bangladesh's Expectations and Possible Stance” was chaired by CPD Chairman Professor Rehman Sobhan, where Mustafizur Rahman, a distinguished fellow of CPD, made the keynote presentation.
Commerce Minister Tipu Munshi attended the online event as the chief guest alongside Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan as the special guest.
CPD suggests incubating a negotiating cell that has analytical capacities to design such policies as well as funneling financial and human resources adequately.
The event was moderated by Syed Manzur Elahi, treasurer of CPD Board of Trustees and former adviser to a caretaker government.
During the event, CPD urged the government to take necessary steps in ensuring the formulation of strategic policies by implementing the suggestions for a sustainable LDC graduation.
Powered by Froala Editor