Business

Calling for giving equal benefits to all industries

The President of FBCCI, the apex body of traders, has called for giving equal opportunities to all industries of the country without identifying some sectors as a priority to diversify and increase the capacity of export of goods. Jasim Uddin.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Jasim Uddin said if Bangladesh is a developing country out of the list of Least Developed Countries (LDCs), the export sector will face challenges. Therefore, all industries need to be given equal benefits to enrich the export sector. Apart from this, it is necessary to provide opportunities for setting up industries through permanent registration and land, environment, building, fire and tax certificate.

This was stated by the President of FBCCI at a seminar on ‘Export Challenges of Bangladesh After Graduation from LDC Status: Options for the Private Sector’ organized by FBCCI. Chief Secretary to the Prime Minister Ahmed Kaikaus was the chief guest at the seminar held at FBCCI auditorium in Motijheel.

Former member of Bangladesh Trade and Tariff Commission Mostafa Abid Khan presented the keynote address at the seminar. He said that after the transition from LDC, Bangladesh will face three major challenges. These are: then there will be no duty-free market access, no export subsidies, and no access to trips. As a result, tariffs on garment exports will be 18 per cent in Canada, 11 per cent in the EU, 9 per cent in Japan and 12 per cent in Korea.

If all goes well, Bangladesh will join Qatar as a developing country in 2026. Bangladesh has four years to prepare for that. This is not a short time at all, said Ahmed Kaikaus, Chief Secretary to the Prime Minister. He said there was no corruption in corona vaccine procurement and mega projects.

Commerce Secretary Tapan Kanti Ghosh said talks were underway with the World Trade Organization (WTO) to ensure that duty-free market access continued for at least six years after the transition from LDCs. However, there is no alternative to the Free Trade Agreement (FTA) to maintain long-term export and trade potential.

Planning Commission member Sharifa Khan said Bangladesh’s industrial sector is quite diverse. Almost all types of products are produced in the country. But these products need to be made suitable for the export market.

Bangladesh Investment Development Authority (BIDAR) Executive Chairman also spoke at the seminar. Sirajul Islam, PWC Bangladesh managing partner Mamun Rashid, former MCCI president Syed Nasim Manzur, CPD research director Khandaker Golam Moazzem, FBCCI director Syed Almas Kabir and others.

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