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Multilateral trading fails to meet LDC cause

Altaf tells discussion on WTO

Star Business Report
Multilateral trading system did not come in the way as envisaged and deprived the least developed countries (LDCs) of vital market access for exporting their limited com-modiu’es.
Commerce Minister Altaf Hossain Choudhury made the observation while speaking as chief guest at a discussion on 'Road to Hong Kong: Options for Bangladesh in WTO negotiations' organised by Development Initiative at Sonargaon Hotel in Dhaka yesterday.
"The share of LDCs in the world trade was 0.7 percent in the 80s. Now the share of LDCs hits the rock bottom of a mere 0.4 percent showing a dreary evidence of their failure to benefit from the leapfrogging growth of global trade," Altaf said adding that the marginalisation of LDCs is explained by the fact that these countries have, by and large, failed to integrate successfully into global trading system.
Formei commerce minister Amir Khosru Mahmud
Chowdhury, who is also the chairman of Development Initiative, moderated the discussion while State Minister for Expatriates' Welfare and Overseas Employment M Quamrul Islam and former commerce minister and Awami League leader Tofail Ahmed spoke at the discussion as special guests.
There are imbalances in the existing WTO agreements. So there are growing concerns on the implementation among the LDCs and developing country members, he added noting that ways of implementation of the provisions of the WTO agreement are far from the expectations, Altaf said.
Market access for the products of LDCs deserves top priority in the agenda of any global talks, he said adding that even the Doha Declaration recognises the role of enhanced market access, technical assistance and capacity building programmes for ensuring the growth of LDCs and developing countries.
However, no up-frqnt commitments were made in this direction and structural weakness coupled
with multifarious supply-side constraints inhibited export growth in LDCs, the commerce minister said.
"We need binding commitment from our development partners. In case of market access for non-agricultural products, the LDCs need not apply the formula nor participate in the sectorial approach for tariff reduction," Altaf said.
Emphasising on the role of commerce ministry in the ongoing global trading changes, Tofail Ahmed said the ministry should exchange views with people who are working on WTO issues and initiate for any negotiation.
After phasing out quota from January next year, the country’s garment sector will face serious challenges with China and India, Tofail said stressing the need for taking adequate measures to protect interest of the country’s major export earning sector.
In his speech, Amir Khosru mentioned Bangladesh's mission in Geneva is heavily undermined and it has very few people to cope with the ongoing changes in the
WTO. He asked the authorities concerned to take the issue into consideration.
Referring to imposing antidumping duty on Bangladeshi battery export.to India, Khosru said it is very common that WTO memberswill have trade disputes. He cited examples of Canada and US and added: "But it does not mean that it will affect political relationship between member countries."
Secretary General of Bangladesh Pharmaceutical Industries Association Nazmul Huq urged the government to change existing drug policy, saying it is necessary because LDCs are allowed to export pharmaceutical products till 2016 without having any patentrights.
Former chairman of Tariff Commission Prof MA Taslim presented a keynote paper at the discussion while Head of Delegation of European Union in Dhaka Esko Kentrschynsky, Australian High Commissioner Lorraine Barker and Indian High Commissioner in Dhaka Veena Sikri also spoke.