Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 778 Fri. August 04, 2006  
   
Business


WTO Aid for Trade Packages
Govt to form nat'l body to devise strategy


The government has decided in principle to form a national committee on 'Aid for Trade' to reap maximum benefits from the WTO's aid for trade packages following Doha Development Round deadlock.

The government will also seek written opinions from all stakeholders especially from chambers and trade bodies on the issue.

The decision was taken yesterday at a meeting on 'WTO Doha Development Round' with Commerce Minister Hafizuddin Ahmad in the chair.

The committee after receiving the opinions from businesspeople and trade experts will formulate a strategy to utilise the trade packages offered by the developed countries.

Japan has already offered US$ 10 billion under aid for trade packages for the least developed countries (LDCs) and some developing nations.

Other developed countries also offered increased trade-related technical assistance to help LDCs prepare for closer integration in the multilateral trading system and build physical infrastructure to produce goods and export under WTO.

"Bangladesh will get priority in receiving aid among the LDCs as the country's infrastructure needs a huge development," Nasir Uddin Ahmed, director general of WTO Cell at the commerce ministry, said after the meeting.

He said, "Our ports should be developed. Capacity building of customs and trade officials is also required," he added.

"Suggestions were made in the meeting to form a national committee so that the aid for trade could be used for the interest of the country," Debapriya Bhattacharya, executive director of the Centre for Policy Dialogue, said.

"We don't think the suspension of the Doha Development Round will affect Bangladesh much as most of our trade benefits come from bilateral deals," he added.

Meanwhile, the commerce minister said Bangladesh's selection as the co-ordinator of the LDCs in the WTO will bring more opportunities for the country in the future global trade negotiations.

The meeting also decided to submit the recommendations placed by experts on draft modalities on non-agricultural market access (NAMA) soon.

Feroz Ahmed, commerce secretary, Farooq Sobhan, former foreign secretary and president of Bangladesh Enterprise Institute, Mir Nasir Hossain, president of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), and Mir Shahabuddin Mohammad, vice chairman of Export Promotion Bureau, were also present at the meeting.