BD to effectively face challenges to make graduation from LDC

Desk Report: Bangladesh will effectively face all challenges on the way of its march toward a successful graduation from LDC group in 2024, said commerce minister Tofail Ahmed.

"Bengalis know how to face challenges . . . they will face all challenges properly to ensure its successful graduation from LDC group," said the commerce minister while speaking at the launching programme of 'Export Diversification and Competitiveness Development Project (Tier-2)' at Cirdap auditorium in the capital on Thursday.

Tofail said Bangladesh achieved independence under the leadership of Bangabandhu and now the country is on the way of achieving economic emancipation under the leadership of Bangabandhu's daughter Prime Minister Sheikh Hasina.

The commerce minister thanked the countries and organizations for extending assistance and cooperation to Bangladesh for increasing its competency in overseas trade and competition.

Emphasizing on diversification of export products, he said Bangladesh must increase its export items and expand export market. Steps have already been taken in the 7th Five Year Plan for expanding export products and export market, he said, adding that special thrust has been given on ICT, pharma industry, shipbuilding, agro processing products and leather products.

Tier-2 project has been launched to take up a strategy maintaining consistency with the post-LDC challenges and sustainable development goals (SDGs).

The project will be implementing from April 1, 2018 to March 31, 2021 at a cost of $1.3 million, according to the commerce ministry.

The World Trade Organization (WTO) Cell of the commerce ministry initiated the project under Enhanced Integrated Framework (EIF), a global partnership programme of 23 donor countries, six international organizations and 47 Least Developed Countries, launched in 1997. The prime aims of EIF are to eradicate poverty through trade and ensure collective growth and sustainable development.

EIF is the only programme that extends assistance and cooperation to LDCs for promotion of trade. Bangladesh joined the EIF in 2009.

The WTO Cell is presently implementing 'Strengthening Institutional Capacity and Human Integrated Framework for Trade Promotion (Tier-1)'. Under the Tier-1, over 400 officials in public and private sectors have been given training at home and abroad as part of human resource development programme. Two researches on identifying the barriers to service sector and export market are progressing.

Besides, a research 'Diagnostic Trade Integration Study (DTIS)' has already been completed in cooperation of the experts of the World Bank (WB).

Commerce secretary Shubhashish Basu, Executive Director of Enhanced Integrated Framework Executive Secretariat, the UN Ratnakar Adhikari, Chief Executive Officer of Bangladesh Foreign Trade Institute (BFTI) Ali Ahmed, Vice-Chairman of Export Promotion Bureau Bijoy Bhattacharjee, FBCCI president Shafiul Islam Mohiuddin and BGMEA president Md Siddiqur Rahman and director general of WTO Cell Md Munir Chowdhury were present at the programme._BSS

risingbd/Dhaka/March 22, 2018/A K Azad