After transitioning from Least Developed Countries (LDC) in 2026, the government hopes that Bangladesh will get trade benefits in the world market for a few more years. The government feels that the twelfth ministerial-level conference (MC-12) of the World Trade Organization (WTO) held in Geneva, Switzerland on 12-16 June, provides an opportunity to continue the ongoing trade benefits.
Tapan Kanti Ghosh, Senior Secretary at the Ministry of Commerce, made the remarks at a press conference at the Commerce Ministry’s conference room on Sunday (26 June) on the occasion of the 12th WTO ministerial conference. Minister of Commerce Tipu Munshi did not attend the press conference as he was infected with COVID-19. In his absence, the Commerce Secretary briefed reporters at a pre-arranged press conference.
Tapan Kanti Ghosh said that a strong proposal to continue the market benefits for a few more years after the transition from LDC was made by Bangladesh at the conference. Bangladesh strongly demanded to extend the market benefits for at least 6 to 9 years. He said that the conference had expressed the view that there was a rationale for extending the benefits under the World Trade Organization for some time to come. This paved the way for further discussion on this issue later. Hopefully, the 13th conference to be held in December next year will yield some good results.
The Commerce Secretary said that the PTA signing was discussed with Nepal and Singapore expressed interest in signing an FTA with Bangladesh.
It should be mentioned that 7 decisions including the outcome document of the 12th WTO ministerial conference held in Geneva and 3 decisions of the General Council were approved. A six-member Bangladesh delegation led by Minister of Commerce Tipu Munshi attended the conference.
