DHAKA, Nov 10, 2022 (BSS) - Bangladesh Foreign Trade Institute (BFTI) today held a stakeholders consultative meeting in order to formulate trade-road map in 12 sectors to identify and face trade-related challenges for ensuring smooth graduation of Bangladesh from the LDC status.
These 12 sectors are RMG, ship building, agricultural products and food processing products, fisheries and livestock, light engineering, plastic products, leather and leather products, non-leather footwear, pharmaceuticals and API, tourism, software and IT, nursing and midwifery.
The BFTI has conducted the research titled "Identification of Trade-related Graduation Challenges and Preparation of Sector-Specific Trade Roadmaps for Overcoming the Challenges" under the initiative from the Ministry of Commerce with the support of the World Trade Organization (WTO).
In light of that, the BFTI today held the last of the three stakeholders' consultative meeting at the BFTI office in the city's Kawranbazar area. Discussions were held today on four sectors -- pharmaceuticals and API, tourism, software and IT and nursing and midwifery.
Presided over by the chief executive officer of BFTI Dr Md Jafar Uddin, Bangladesh Trade and Tariff Commission Chairman Mahfuza Akhter spoke at the meeting as the chief guest.
Speaking on the occasion, Mahfuza said both the government and private sector would have to work unitedly to overcome the challenges of LDC graduation.
"There is no alternative to product diversification and expansion of the market to boost export earnings and facing the challenges of LDC graduation," she added.
Noting that the services sector should be given special priority to face the challenges of LDC graduation, Mahfuza said the services sector posses much potential in the context of Bangladesh while the contributions of the services sector in the country's economy is growing day by day.
Director General of the WTO Cell under the Ministry of Commerce Md Hafizur Rahman and representatives from both the public and private sectors attended the meeting.
