Kazi Zahidul Hasan :
Economists and business leaders have urged the government to carry an in-depth study prior to signing a Comprehensive Economic Partnership Agreement (CEPA) with India to get a clear picture as to what extend the deal will support local economy.
They also called for transparency and public scrutiny in singing such a crucial deal with the next-door neighbour.
“CEPA needs a careful assessment how much it will support local economy,” Dr Zahid Hussain, Lead Economist of World Bank’s Bangladesh office, told The New Nation on Friday.
Citing global experience, he said, deals like this followed by numbers of close door negotiations. “We have to develop a win-win situation through proper negotiations so that local economy remains unhurt from the deal.”
Dr Zahid Hussain further said the negotiation should also involve experts’ opinions and public scrutiny or parliamentary debate to ensure transparency of the deal.
In commodity trade, he said, India had provided duty concession to a long list of local products. But the local industry did not get much
benefit from the Indian initiative, as most of those products were non-conventional export items. Even, India imposed various non-tariff and para tariff barriers, including anti-dumping duty and non-recognition of BSTI certificates, on the potential export items depriving the local industry to get the duty benefit.
“These issues should be resolved first prior to enter into a new deal with India,” said Dr Zahid Hussain.
When asked, he said, the framework of the deal is still unclear. But the bilateral deal like CEPA is based on reciprocal economic cooperation. Thus, Bangladesh economy can gain from Indian investment, commodity trade and non-factor services.
Bangladesh and India on Wednesday agreed to sign the CEPA with a view to deepening bilateral economic cooperation between the two countries.
Commerce Ministers of both countries announced the signing of the deal after a bilateral meeting in Dhaka.
“Bangladesh may reap the benefit from the deal if it is negotiated carefully,” Dr Ahsan H Mansur, Executive Director of Policy Research Institute (PRI), told The New Nation.
He said Bangladesh could gain from the deal, as it would be used an instrument for sustainable economic development between the two countries.
“The deal will pave the way of unlimited market access of local goods to Indian market and create the opportunity for more Indian investment into Bangladesh,” he added.
Dr Ahsan H Mansur, however, urged the authorities to involve profession groups and public opinion in the process of the deal’s negotiation to uphold interest of the country.
“Both the sides have intended to sign the deal for boosting economic ties between the two countries. But it should be signed after careful analysis considering interest of the local industry and export trade,” Abdus Salam Murshedy, President of the Exporters Association of Bangladesh (EAB), told The New Nation.
He said, the atmosphere for bilateral cooperation between Bangladesh and India is brighter than ever, and the two nations need to further expand trade and investment.
“We would be happy if the purpose of CEPA lies on the key objective,” added Murshedy.
Officials said, Bangladesh and India have decided to conduct a joint study on the prospects of entering into a CEPA and the issue was discussed in the meeting between Commerce Minister Tofail Ahmed and his Indian counterpart Suresh Prabhu.
“Ministers of both countries have directed their officials to undertake a joint study on the prospects of entering into the deal,” a senior Commerce Ministry official told The New Nation.
He said, “It would not take place all of a sudden…it will take time as the deal covers a wide range of issues and complex procedures.
Economists and business leaders have urged the government to carry an in-depth study prior to signing a Comprehensive Economic Partnership Agreement (CEPA) with India to get a clear picture as to what extend the deal will support local economy.
They also called for transparency and public scrutiny in singing such a crucial deal with the next-door neighbour.
“CEPA needs a careful assessment how much it will support local economy,” Dr Zahid Hussain, Lead Economist of World Bank’s Bangladesh office, told The New Nation on Friday.
Citing global experience, he said, deals like this followed by numbers of close door negotiations. “We have to develop a win-win situation through proper negotiations so that local economy remains unhurt from the deal.”
Dr Zahid Hussain further said the negotiation should also involve experts’ opinions and public scrutiny or parliamentary debate to ensure transparency of the deal.
In commodity trade, he said, India had provided duty concession to a long list of local products. But the local industry did not get much
benefit from the Indian initiative, as most of those products were non-conventional export items. Even, India imposed various non-tariff and para tariff barriers, including anti-dumping duty and non-recognition of BSTI certificates, on the potential export items depriving the local industry to get the duty benefit.
“These issues should be resolved first prior to enter into a new deal with India,” said Dr Zahid Hussain.
When asked, he said, the framework of the deal is still unclear. But the bilateral deal like CEPA is based on reciprocal economic cooperation. Thus, Bangladesh economy can gain from Indian investment, commodity trade and non-factor services.
Bangladesh and India on Wednesday agreed to sign the CEPA with a view to deepening bilateral economic cooperation between the two countries.
Commerce Ministers of both countries announced the signing of the deal after a bilateral meeting in Dhaka.
“Bangladesh may reap the benefit from the deal if it is negotiated carefully,” Dr Ahsan H Mansur, Executive Director of Policy Research Institute (PRI), told The New Nation.
He said Bangladesh could gain from the deal, as it would be used an instrument for sustainable economic development between the two countries.
“The deal will pave the way of unlimited market access of local goods to Indian market and create the opportunity for more Indian investment into Bangladesh,” he added.
Dr Ahsan H Mansur, however, urged the authorities to involve profession groups and public opinion in the process of the deal’s negotiation to uphold interest of the country.
“Both the sides have intended to sign the deal for boosting economic ties between the two countries. But it should be signed after careful analysis considering interest of the local industry and export trade,” Abdus Salam Murshedy, President of the Exporters Association of Bangladesh (EAB), told The New Nation.
He said, the atmosphere for bilateral cooperation between Bangladesh and India is brighter than ever, and the two nations need to further expand trade and investment.
“We would be happy if the purpose of CEPA lies on the key objective,” added Murshedy.
Officials said, Bangladesh and India have decided to conduct a joint study on the prospects of entering into a CEPA and the issue was discussed in the meeting between Commerce Minister Tofail Ahmed and his Indian counterpart Suresh Prabhu.
“Ministers of both countries have directed their officials to undertake a joint study on the prospects of entering into the deal,” a senior Commerce Ministry official told The New Nation.
He said, “It would not take place all of a sudden…it will take time as the deal covers a wide range of issues and complex procedures.
