Tofail for attaining efficiency in digital trade

Commerce Minister Tofail Ahmed yesterday laid emphasis on attaining efficiency in digital trade to keep up the country’s progress in the competitive world trade, reports BSS.

“We have no scope to lag behind when the world trade is moving up adopting digital system,” said the minister while addressing a workshop as chief guest in CIRDAP auditorium.

Bangladesh Foreign Trade Institute (BFTI) organised the workshop titled “Cross-border paperless Trade Facilitation in Bangladesh”.

He hoped that paperless trade will not only reduce labour, time and expenditure but also ensure accountability and transparency.

Referring to the research that indicates digital trade will cut 17-31 per cent business cost and 24-44 per cent time, the minister said: “We have to keep running our progress adopting the modern trade system.”

World Trade Organisation (WTO) has decided to sign agreement with concerned countries to ease cross-border trade and Bangladesh approved it on September 27, 2016 as per the decision of the WTO Ministerial Conference in Bali in 2013. Bangladesh is going to sign Trade Simplification Agreement on August 29 in Thailand’s capital Bangkok.

Citing the country’s export target of US $37.5 billion from products and computer service in fiscal 2017-18, Tofail said: “Private sector has to move forward alongside the government to attain the target.”

Tofail for attaining efficiency in digital trade

Commerce Minister Tofail Ahmed yesterday laid emphasis on attaining efficiency in digital trade to keep up the countrys progress in the competitive world trade, reports BSS. We have no scope to lag behind when the world trade is moving up adopting digital system, said the minister while addressing a workshop as chief guest in CIRDAP auditorium. Bangladesh Foreign Trade Institute (BFTI) organised the workshop titled Cross-border paperless Trade Facilitation in Bangladesh. He hoped that paperless trade will not only reduce labour, time and expenditure but also ensure accountability and transparency. Referring to the research that indicates digital trade will cut 17-31 per cent business cost and 24-44 per cent time, the minister said: We have to keep running our progress adopting the modern trade system. World Trade Organisation (WTO) has decided to sign agreement with concerned countries to ease cross-border trade and Bangladesh approved it on September 27, 2016 as per the decision of the WTO Ministerial Conference in Bali in 2013. Bangladesh is going to sign Trade Simplification Agreement on August 29 in Thailands capital Bangkok. Citing the countrys export target of US $37.5 billion from products and computer service in fiscal 2017-18, Tofail said: Private sector has to move forward alongside the government to attain the target.