Recapitulation of Regulatory and Documentation Processes to Foster Export Diversification: BUILD Trade and Investment Working Committee

The potential of diversifying exports in the markets of the UK and China was asserted in the meeting of BUILD held at the Conference room of MoC, co-chaired by the Senior Secretary Tapan Kanti Ghosh and Md Saiful Islam, President of the Metropolitan Chamber of Commerce and Industry (MCCI). The meeting emphasised the ease of doing business and reduced regulatory burdens and documentation processes. The meeting reiterated attracting new investments, fostering technological advancements, and promoting diversified product exports, particularly in the key markets where market access benefits are available.

The 10th Trade and Investment Working Committee of BUILD was held on 3 December 2023, where two policy papers titled “DFQF Market Access to China-Policies and Measures to Increase and Diversify Exports” and “UK’s DCTS: Policy Measures to Escalate Export to the UK” were presented. Ministry of Commerce (MoC) and BUILD jointly organised the meeting.

BUILD CEO Ferdaus Ara Begum reported on the progress of the 9th meeting, highlighting the implementation of eight out of 27 proposed reforms, with nine currently in progress. Acknowledging the collaborative efforts of the MoC, Local Government Division, and Register of Joint Stock Companies (RJSC), she expressed gratitude for the successful implementation of 5-year trade licences, Export and Import licences and the initiation of online Trade Licence services and information dissemination through websites of RJSC etc.

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