After graduation of Bangladesh, a number of DFQF (Duty-Free Quota-Free) facilities will be eroded; the country will need to proceed for bilateral FTA with potential partner countries for which we need to have more profound studies, research and understanding for offsetting revenue loss in order to make the country competitive in export, said Dr Md. Jafar Uddin Secretary, Ministry of Commerce.
While co-chairing the 8th meeting of Trade & Investment (T&I) Working Committee of Business Initiative Leading Development (BUILD) on 31 December 2020 at the Ministry of Commerce, Dr Md. Jafar Uddin said that export diversification is one of the priorities of our government, for which our government is working actively.
Having welcomed the representatives from different public and private sector entities, the Secretary of the Ministry of Commerce assured implementation of BUILD’s proposed reform for export diversification and supportive policies for Non-RMG sectors.
He also requested BUILD to send all proposals coming out of the Trade and Investment Working Committee meeting, and they will be actively considered, but we need the recommendations with an action matrix so that we can coordinate with different ministries accordingly to see a better implementation of our reforms.
Barrister Nihad Kabir, President, Metropolitan Chamber of Commerce and Industry (MCCI), who is the Co-chair of the Trade and Investment Working Committee from the private sector, said that the government should come forward to provide equal fiscal, monetary assistance to all the potential export-oriented sectors as like the RMG.
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