BSS, Dhaka :
Services waiver to the Least Developed Countries (LDCs) will help Bangladesh boost its economy towards achieving the middle-income status by 2012, Commerce Minister Tofail Ahmed told journalists on Tuesday.
Briefing journalists on the outcome of the high level meeting of World Trade Organisation (WTO), held in Geneva, Switzerland on February 5-6, the minister said the developed countries would identify by July the sectors for giving the services waiver.
He said identifying sectors by the services waiver providing countries was one of the two major decisions, made on the concluding of the meeting.
The other decision was to hold a meeting of the Services Council on March 19 when a review report on-behalf of the LDCs would be presented for evaluation, the minister, who led the Bangladesh delegation to the meeting, said.
Referring to the WTO decision, taken back in 2011, Tofail said all the LDCs were supposed to get from the developed countries the services waiver like they were getting in goods.
“But, the decision has not yet been implemented,” the minister noted.
He, however, mentioned that most the developed countries, including European Union (EU) states, Mexico, Norway, Canada, Switzerland, Japan, India, China, Korea, Jamaica, Brazil, Australia, New Zealand and Qatar indicated their willingness to provide preferential treatment to the LDCs for ensuring meaningful and effective implementation of services waiver when the United States (US) refrained from making any comment.
Tofail also said that the high-level meeting discussed measures, which would support the growth of services trade in LDCs by providing their services exports with preferential treatment.
The minister said the services waiver would expedite the trade and business and would eventually help Bangladesh achieve the middle-income status by 2021, the goal set by the government under the leadership of Prime Minister Sheikh Hasina.
The proposed waiver would enable WTO members to provide preferential treatment to services and service suppliers of LDCs initially for 15 years from the date of adoption.
He said this was an important step in implementing a key Bali decision in support of LDCs, which aims to enhance their participation in world services trade.
Besides, he said visa process and getting overseas jobs by professionals and intellectuals would be easier once the services waiver would be given to the LDCs including Bangladesh.
Tofail said he urged all trading partners to come up not only with generous offers, but also with open minds to operationalise the services waiver so the LDCs can accelerate process of development, process of poverty alleviation, process of ensuring minimum needs of our people.
Tofail said during his Geneva visit he also held bilateral meetings with WTO director general Roberto Azevedo and discussed the outcome of a high-level meeting on service and progress in developing work programme for Doha Development Agenda.
He said the WTO chief in his remark highlighted the potential of Bangladesh in making a steady growth in Information Technology Enabled Services (ITES) and Business Operations Processing services.
The commerce minister said he also had separate meetings with secretary general of UNCTAD Mukhisa Kituyi and trade, industry and cooperatives minister of Uganda Amelia Anne Kyambadde.
He said the Uganda minister agreed that the LDCs would work together for the extension of TRIPS waiver for the pharmaceutical products, which will expire on December 31 this year.
Services waiver to the Least Developed Countries (LDCs) will help Bangladesh boost its economy towards achieving the middle-income status by 2012, Commerce Minister Tofail Ahmed told journalists on Tuesday.
Briefing journalists on the outcome of the high level meeting of World Trade Organisation (WTO), held in Geneva, Switzerland on February 5-6, the minister said the developed countries would identify by July the sectors for giving the services waiver.
He said identifying sectors by the services waiver providing countries was one of the two major decisions, made on the concluding of the meeting.
The other decision was to hold a meeting of the Services Council on March 19 when a review report on-behalf of the LDCs would be presented for evaluation, the minister, who led the Bangladesh delegation to the meeting, said.
Referring to the WTO decision, taken back in 2011, Tofail said all the LDCs were supposed to get from the developed countries the services waiver like they were getting in goods.
“But, the decision has not yet been implemented,” the minister noted.
He, however, mentioned that most the developed countries, including European Union (EU) states, Mexico, Norway, Canada, Switzerland, Japan, India, China, Korea, Jamaica, Brazil, Australia, New Zealand and Qatar indicated their willingness to provide preferential treatment to the LDCs for ensuring meaningful and effective implementation of services waiver when the United States (US) refrained from making any comment.
Tofail also said that the high-level meeting discussed measures, which would support the growth of services trade in LDCs by providing their services exports with preferential treatment.
The minister said the services waiver would expedite the trade and business and would eventually help Bangladesh achieve the middle-income status by 2021, the goal set by the government under the leadership of Prime Minister Sheikh Hasina.
The proposed waiver would enable WTO members to provide preferential treatment to services and service suppliers of LDCs initially for 15 years from the date of adoption.
He said this was an important step in implementing a key Bali decision in support of LDCs, which aims to enhance their participation in world services trade.
Besides, he said visa process and getting overseas jobs by professionals and intellectuals would be easier once the services waiver would be given to the LDCs including Bangladesh.
Tofail said he urged all trading partners to come up not only with generous offers, but also with open minds to operationalise the services waiver so the LDCs can accelerate process of development, process of poverty alleviation, process of ensuring minimum needs of our people.
Tofail said during his Geneva visit he also held bilateral meetings with WTO director general Roberto Azevedo and discussed the outcome of a high-level meeting on service and progress in developing work programme for Doha Development Agenda.
He said the WTO chief in his remark highlighted the potential of Bangladesh in making a steady growth in Information Technology Enabled Services (ITES) and Business Operations Processing services.
The commerce minister said he also had separate meetings with secretary general of UNCTAD Mukhisa Kituyi and trade, industry and cooperatives minister of Uganda Amelia Anne Kyambadde.
He said the Uganda minister agreed that the LDCs would work together for the extension of TRIPS waiver for the pharmaceutical products, which will expire on December 31 this year.
