DHAKA, Jan 16, 2022 (BSS) - Speakers at a webinar today said that to maximize the use of trade agreements to achieve development outcomes, there is an ardent need to strengthen the capacities of Bangladesh to participate effectively in multilateral, regional and bilateral trade negotiations. 

The speakers made the suggestion at a webinar titled- ‘International Trade Negotiations: Bangladesh perspective' organized by Institute of Chartered Accountants of Bangladesh (ICAB),'said a press release. 

Governor of Bangladesh Bank Fazle Kabir joined the webinar as chief guest while secretary to the government and chairman of Bangladesh Trade and Tariff Commission  Afzal Hossain was the special guest. 

At the webinar, they said, Bangladesh has been pursuing some BIMSTEC, APTA, and few bilateral FTAs through which it is stressing on creating better market access for goods, particularly duty-free and quota-free market access, preferential market access in services where Bangladesh has much potentials, elimination of non-tariff barriers (NTBs) .

President of ICAB Shahadat Hossain delivered the address of welcome while Chief Executive Officer of ICAB and Former Senior Secretary of Ministry of Commerce Shubhashish Bose presented the keynote paper in the webinar.

Dr. Zaidi Sattar, Chairman, Policy Research Institute of Bangladesh (PRI), Noor Md. Mahbubul Haq, Additional Secretary (FTA), FTA Wing, Ministry of Commerce and Md. Humayun Kabir, Member Council and Past President-ICAB and Chief Executive, Shinepukur Ceramics Ltd joined the webinar as panel speakers.  NKA Mobin, Vice President of ICAB delivered the closing remarks in the webinar.

ICAB President Shahadat Hossain said `Bangladesh has adopted the policy of executing Bilateral Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) and also signed a bilateral PTA with Bhutan in 2020 and similar initiatives have already been taken for signing agreements with 11 other countries,'  

Mr. Hossain said that there is an initiative to conduct a joint feasibility study on the proposed Comprehensive Economic Partnership Agreement between Bangladesh and India.

He also said, there is also an ardent need to strengthen the capacities of developing countries including Bangladesh to participate effectively in multilateral, regional and bilateral trade negotiations and maximize the use of trade agreements to achieve development outcomes.

`The government agencies, political parties, private sector, academia, key policy-makers, including parliamentarians must have to be involved in trade negotiation process. Otherwise, trade negotiation will become either impossible or implementation of the outcome of it will not be possible,' he opined.