DHAKA: Executive Director of Enhanced of Integrated Framework (EIF) at World Trade Organisation (WTO) Dr Ratnakar Adhikari said they will provide assistance to Bangladesh after graduating from least developed country (LDC) to a middle-income country (MIC).
“EIF will create a business-friendly environment for export diversification and investment climate to attract more investments in Bangladesh during five years after graduating from LDC to middle-income country,” he said while speaking at a discussion meeting.
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Finance Department of Dhaka University and Bangladesh Foreign Trade Institute (BFTI) jointly organised the discussion meeting on ‘The Role of the WTO Enhanced Integrated Framework (EIF) in Promoting Trade in LDCs’ at Dhaka University.
Speaking as the chief guest, Adhikari said market access would not be a problem for Bangladesh, but it will be tough for the country to enhance competitiveness and remove supply side constraints.
“EIF will stay beside Bangladesh to do so,” he added.
Adhikari said Bangladesh still has five years’ time to reach its target to be a middle-income country. “The country should try to use all its facilities and increase the capacity by this time.”
He further said promoting from LDC to middle-income country is a national pride. Bangladesh should be master of its own destiny and should not be dependent on foreign aid and support.
Secretary of Commerce Ministry Shubhashish Bose who presided over the meeting said the country’s export is very ‘vulnerable’.
“We must diversify our export basket before becoming a middle-income country. Only six products account for 92 per cent of the country’s total exports.
If exports of one product decrease, the export will be seriously affected,” he said.
Dr M Jahangir Alam Chowdhury, a finance professor at DU, delivered address of welcome at the program.
Chief Executive Officer of Bangladesh Foreign Trade Institute (BFTI) Ali Ahmed, Deputy Secretary of Ministry of Commerce Md Hafizur Rahman, BFTI Director Amitava Chakraborty and Md Munir Chowdhury, Director General of WTO Cell, Ministry of Commerce, also spoke at the program.
