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Bangladesh ahead of other LDCs : Lamy :: Financial Express :: Financial Newspaper of Bangladesh
http://www.thefinancialexpress-bd.com/index.php?ref=MjBfMDJfMDJfMTNfMV8xXzE1ODg2NA==[10/25/2013 6:01:31 PM]
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VOL 20 NO 157 REGD NO DA 1589 | Dhaka, Saturday, February 02 2013
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Bangladesh ahead of other LDCs : LamyPublished : Saturday, 02 February 2013
Our Correspondent
CHITTAGONG, Feb 1: WorldTrade Organisation DirectorGeneral Pascal Lamy hassaid Bangladesh is wellahead, in terms ofdevelopment and GDP (grossdomestic product) growth, ofother least developedcountries (LDCs).
"I applaud the government ofBangladesh for its active engagement to ensure that mechanisms areembedded in the international trade architecture to facilitate a greaterintegration of LDCs into the multilateral trade system," he said.
The WTO director general was addressing the businesses, civil societyrepresentatives, diplomats, port and customs officials, senior officials ofChittagong Export Processing Zone and Karnaphuli Export Processing Zone andtrade body leaders of different sectors at the views exchange meeting organisedby Chittagong Chamber of Commerce and Industry (CCCI) at Hotel Agrabad inthe city this afternoon.
Commerce Secretary Mahbub Ahmed, Ambassador and PermanentRepresentative of Bangladesh Mission to the UN Md Abdul Hannan, ConsulGeneral of Turkey
Salauddin Kashem Khan, among others, also addressed the meeting.
Emphasising on a multilateral agreement on trade facilitation he said that itwould expedite the movement of goods across borders and would improvetransparency and predictability of trade and doing business situation. With thegrowing prevalence of regional and global supply chains, effective andpredictable trade facilitation is an essential ingredient in making supply chainswork for developing countries, he stated.
He stressed the need for removing barriers to trade and cutting red tape in half,which is what a multilateral trade facilitation agreement could deliver. It hasreal economic deliverables for a country such as Bangladesh that has thepotential to exploit its comparative advantage in labour and in the garmentsindustry, he observed.
"Multilateral trade negotiations can sometimes be difficult to relate to the dayto day work of doing business. But it is not so for trade facilitation. There is
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Bangladesh ahead of other LDCs : Lamy :: Financial Express :: Financial Newspaper of Bangladesh
http://www.thefinancialexpress-bd.com/index.php?ref=MjBfMDJfMDJfMTNfMV8xXzE1ODg2NA==[10/25/2013 6:01:31 PM]
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nothing that brings the work in Geneva closer to the reality of trade than thenuts and bolts of improving trade facilitation processes and procedures.Effective trade facilitation increases customs productivity, improves taxcollection at the border and helps attract Foreign Direct Investment (FDI)," hesaid.
During his first-ever visit here Mr Lamy termed Chittagong maritime port as theheart of the economy of Bangladesh handling more than 90% of sea-borneexport-import trade and said, the real purpose of the country is to connectBangladesh to the outside world through trade and to serve as a conduit forother countries of the region to connect each other.
"The efficiency of the port has improved over the years and many consider it tobe the most efficient container port in the South Asian region. It is thus withgenuine pleasure that I was able to return to Bangladesh with the fundamentalaim of seeing this port in action and hearing from those whose business andlivelihood rely on this conveyor belt of commerce and trade."
Speaking on the occasion former adviser of the caretaker government DrHossain Zillur Rahman said located in a triangle of China, the ASEAN and India,Chittagong itself is a regional emerging economy worth 25 billion US dollars.
Chittagong will shortly become another Singapore of Asia, he stated.
Former vice chancellor of Chittagong University Professor Alamgir MohammedSirajuddin alleged that specific market access problems of Bangladesh have notbeen addressed by the WTO. Nor has the WTO done enough for Bangladesh inthe Intellectual Property Rights (IPR). He said that Bangladesh is exportingpharmaceutical items to 170 countries after meeting the local requirement.
CCCI President Murshed Murad Ibrahim said the role of WTO is as important asthe UN in respect of economic development of the world, particularly for theemerging third world countries including Bangladesh.
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Bangladesh ahead of other LDCs : Lamy :: Financial Express :: Financial Newspaper of Bangladesh
http://www.thefinancialexpress-bd.com/index.php?ref=MjBfMDJfMDJfMTNfMV8xXzE1ODg2NA==[10/25/2013 6:01:31 PM]
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