Bangladesh has Immense scope lor exploiting vast untapped market, especially for garments and jute, in South Africa which may emerge as an economic giant under the new black leadership, reports UNB

This was viewed by experts at a seminar on The New

South Africa. Problems and. Opportunities' at the Bangladesh Institute of international and Strategic Studies (BUSS) auditorium yesterday.

Mentioning that a mission of Bangladesh is being opened soon in Pretoria, they said the mission along with routine work should extend its economic activities to explore markets for Bangladeshi goods.

Speakers said Bangladesh used to export Jute through third party during Pakistan period and later stopped due to apartheid rule. Now the political scenario has changed and the scope should be utilised In a proper way.

Jute Is now facing competition with fibre and subsequently the international market has shrtnked to some extent. South African market exploitation may rejuvenate the already-shaken Bangladeshi Jute market, they said.

Citing cheap labour and production cost of Bangladeshi readymade garments, they said export volume of garments could be Increased through exploitation of South African market. And Bangladeshi

mission may play a vital role in this regard

Prof Rehman Sobhan presented key-note paper which was discussed by BUSS Research Director Dr Iftekharunman. Delwar Hossain. AK.N Ahmed and M Dastagir. BUSS Chairman Barrister AHK Morshed presided

On South African economy. Prof Rehman Sobhan said the crisis faced by the economy in the 1980 s was in large measure associated with the impact of the economic embargo on trade and investment flows from most of the third world and some of first world countries to create pressure to end apartheid.

Thus imports of manufactures by OECD countries originating In South Africa fell from 0.26 per tent of their total imports In 1970 to 0.17 per cent in 1992. he said.

Prof Sobhan said peaceful process of political transition and Its outcome pose both opportunities and challenges to the viability of new order In South Africa, which had long been under wlilte rule.