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Geneva meet on allowing duty-free entry of LDC products
The developed countries and the poorest nations kicked off a two-day meeting in Geneva yesterday to discuss duty-free entry of products of LDCs, a crucial issue for them to survive In the globalised trade regime, reports
At the beginning, many developed and developing nations made a fresh commitment to allow zero tariff entry for the products of the least developed countries (LDCs) to their markets under the generalised system of preference (GSP).
According to a message received in the city, many other countries showed willingness to
extend technical assistance, including training and human resources development programmes. to the LDCs.
They are USA. Japan. Korea. Canada. Singapore. Switzerland, Malaysia, the European Union countries and Hungary.
The Organisation of Economic Cooperation and Development (OECD), a grouping of the world's most developed nations. also showed similar interest .
In the high-level meeting, titled "Integrated Initiatives for LDCs' Trade Development," Commerce Minister Tofael Ahmed is leading the Bangladesh team and performing the rolfe of spokesman for the 48-member LDCs group.
Being held at the headquarters of tne World Trade Organisation (WTO) in Geneva, the meeting has been organised by WTO In collaboration with the United Nations Conference on Trade and Development (UNCTAD) and the International Trade Centre (1TC).
The meeting is being attended by International Monetary Fund (IMF). World Bank. United Nations Development Programme (UNDP), the G-8 countries, EU OECD, the WTO's 130 member countries and trade ministers of the LDCs.
Tofael Ahmed, apart from coordinating the LDCs. is pursuing the goal of improved market access for LDC products with representatives of the developed and developing countries attending the meeting.
The opening session was chaired by the Netherlands Minister for Development Cooperation Jan Pronk and addressed by the WTO Secretary General Renato Ruggiero. UNCTAD Secretary General Rubens Ricupers and FTC Executive Di-
rector Denis Belisle.
All the speakers expressed their solidarity to foster a coherent and integrated approach to assisting LDCs in enhancing their trading opportunities.
Tofael requested the countries to explain in details and concrete manner about the items for duty-free access so that the LDCs could easily avail the opportunities for their export development and technical improvement.
In the twin process of globalisation and liberalisation, the Bangladesh minister said, the LDCs are ready to face the challenges. "But we need full preferential treatment." he added.
Metropolitan Chamber of Commerce and Industry (MCCI) President Samson H Chowdhury is attending the meeting as a member of Bangladesh delegation while businessman Abdul Awal Mintoo is attending at the invitation of WTO.