Experts suggest concerted efforts for benefit from trade

Economists, researchers and business leaders say integrated efforts of the government, experts and private sector are required to benefit from different international and regional trade deals in 2006.

They said 2006 is very important for Bangladesh as it has already entered into SAFTA implementation phase. The year is also important to retain the existing GSP facility in Europe by participating in the post-Hong Kong WTO negotiations efficiently and effectively, besides doing homework for mode-4 mechanism.

The capacity of the Commerce Ministry and different public and private institutions has to be improved significantly to realise the opportunities derived from the trade deals -- WTO's Hong Kong declaration, SAFTA and BIMSTEC. The government should appoint an international trade negotiator who will concentrate only on maximisation of Bangladesh's benefits from different international and regional trade negotiations, they said.

Fazlul Haque, president of Bangladesh Knitwear Exporters and Manufacturers Associations (BKMEA) urged the government to form a national commi ttee to back the state machinery in different negotiations.Research Director of Centre for Policy Dialogue (CPD), Prof Mustafizur Rahman said 2006 is very crucial for Bangladesh as the implementation of SAFTA and different WTO agreements as well as vital negotiations on BIMSTEC will take place in this year.

The local businessmen would not be able to utilise the market access opportunities created by SAFTA and WTO deals unless steps are taken for institutional capacity building.

Rashed Al Mahmud Titumir, a researcher, said Bangladesh would not be able to gain benefits from SAFTA without raising exports to India to reduce the huge trade gap.

the trade facilitation, arrangement for investment promotion and movement of people, and harmonisation among customs, banking, insurance and standard certification under SAFTA deal will be very vital for Bangladesh.

The WTO, SAFTA or BIMSTEC all are multi-lateral trade forums and it is not so easy to get benefits from these forums as in case of bilateral arrangements.

Besides developing Commerce Ministry's negotiating capacity to reap benefit from trade deals, enhancement of capacities of different government institutions and chambers and trade bodies are also essential.