Trade Advisor Sheikh Bashiruddin said, the implementation of the Trade Facilitation Roadmap is urgent to meet the challenge of graduating from Least Developed Country (LDC). We need to build our skills and competitive spirit to meet the challenge.
He said these things in his speech as the chairman at the 8th meeting of the National Trade Facilitation Committee (NTFC) organized by the Ministry of Commerce at the Biam Foundation Multipurpose Hall in Dhaka on Tuesday (February 04, 2025) afternoon.
Lutfe Siddiqui, Special Envoy for International Affairs of the Chief Advisor, was present as the guest of honor at the meeting.
We are going to graduate from LDC in November 2026. Stating that due to this graduation, various rules will come on us in terms of exporting goods, the Trade Advisor said, the key to getting rid of the shock that this will bring to our economy is to increase capacity. Therefore, we have to increase our competitiveness through skills. He mentioned that there is no other option.
Commerce Advisor Sheikh Bashiruddin said, we have time till 2030. I think it is a long time. If we graduate from LDC in 2026, I think it is possible to set a specific target if our working groups work together.
Lutfe Siddiqui said, we have to set a specific time limit and implement the activities. We have to increase capacity, as well as ease of doing business. We want to increase coordination and cooperation.
The meeting was attended by Senior Secretary of the Ministry of Shipping, Secretary of Bridges Division, Secretary of Legislative and Parliamentary Affairs, Secretary of Posts and Telecommunications, Secretary of the Ministry of Commerce (Routine Responsibilities), Chairman of Bangladesh Trade and Tariff Commission, Administrator of FBCCI I, Chairman of Land Port Authority, Chairman of Chittagong Port Authority, Vice Chairman of EPB, Additional Secretary (FTA) of the Ministry of Commerce and other committee members.
It is worth noting that the main objective of the Trade Facilitation Agreement is to review the rules and procedures related to international trade in the interest of trade liberalization and to accelerate the expansion and movement of imported and exported goods.
The activities undertaken under the Trade Facilitation Agreement are divided into 3 (A, B, C) categories. Notifications regarding the implementation of 21 activities in Category A were sent to the WTO on 20 February 2018. Different deadlines were set for the implementation of 18 activities in Category B.
Category B activities have been implemented. Notifications regarding the implementation were sent to the WTO on different dates. The latest deadline for the implementation of 15 activities in Category C is 30 June 2030. Already, 5 activities in Category C have been implemented and notifications regarding this have been sent to the WTO. The remaining 10 activities are ongoing.
