Commerce Minister Tofail Ahmed on Thursday called upon the developed countries to allow duty free and quota free (DFQF) market access to the least developed countries’ (LDCs) products.
He said that as per the ministerial meeting of the World Trade Organisaiton (WTO) in Bali, Indonesia last year, the developed countries are supposed to give DFQF market access to the LDCs products before the next ministerial meeting of the organisation. But many developed countries are yet to implement the decision.
He said that the developing countries should be united for the implementation of Bali declaration.
The minister said it at a luncheon meeting of 23rd World Economic Forum on East Asia at Domingo Hotel in the Philippines capital of Manila on the day. Commerce Ministers from Indonesia, Malaysia, Philippines, Cambodia, Laos, Vietnam and Myanmar attended the programme, according to a handout of the commerce ministry in Dhaka.
Tofail said that the WTO should do more for facilitating trade privileges for LDCs. He hoped the commerce ministers of developing countries could take steps in this regard.
He said that the commerce ministers meeting of the WTO in Singapore in 1996 took a decision to provide DFQF market access to the LDCs by the developed countries and it (decision) is yet to implement fully.
He said that Bangladesh was now surging ahead in terms of economic and social development.
The per capita income is now US $ 1190. The economy of the country is now stronger compared with the past. The volume of export of the country is now $ 30 billion while foreign reserve is $ 20 billion and inward remittances surpassed $ 15 billion. The economic growth registered over six per cent during the current fiscal year (FY 2013-14. The Bangladesh commerce minister held meetings with the industries and commerce minister of Philippines Georg L Domingo and under secretary of Trade and Investment Promotion of Philippines Ponciano Manalo.
The meeting discussed on bilateral trade between the two countries. It also stressed on export of RMG, pharmaceuticals, agro products, leader and leather goods and electric cables to Philippines.
The industries and commerce minister of Philippines also invited the ready made garment (RMG) exporters of Bangladesh to visit his country. The commerce minister also invited industries and commerce minister of Philippines to visit Bangladesh. He exchanged views with the presidents of Indonesia and Philippines and vice president of Myanmar.
He stressed on forming ‘Business Council’ comprising the businessmen of Bangladesh and Philippines. Bangladesh Ambassador in Philippines Major General (retd) John Gomes was also present.
