WTO decision to benefit Bangladesh: Tofail

The decision on Preferential Market Access would provide Bangladesh greater access to the global market Commerce Minister Tofail Ahmed

Commerce minister Tofail Ahmed said Bangladesh could use up to 75 per cent non-originate materials of export items for the final value of a product. He said that while briefing the journalist on the WTO conference at his secretariat office yesterday.
The minister said 48 LDCs, including Bangladesh, would get significant benefit from two decisions - Rules of Origin and Preferential Market Access.
Commerce minister said two important issues were taken in the meeting in favour of LDCs- first one is rules of origin and second is preferential market access in service sector for LDCs.
“Under the Rules of Origin, the LDCs including Bangladesh could use up to 75 per cent non-originate materials of the final value of a product,” he said  "The decision will accelerate the country's export products including Ready-Made Garments (RMG), chemical and agro-processing products", he added.
Tofail said the decision on Preferential Market Access would provide Bangladesh greater access to the global market. However, the minister pointed out that the country should enhance skill to tap the advantages of the preferential market access, especially in labour-incentive sectors.
Under the decision of Preferential Market Access, LDCs including Bangladesh has got an extension up to 2030 service waiver. “As a citizen of Bangladesh, I straight said we stood up on our own feet. We will not bow down to any country,” he added.
“I have told them the economy of Bangladesh is strengthening and our export increasing to your country. This year it will reach to $ 6 billion.”   
He said that at a press briefing on recent WTO ministerial meeting held in Nairobi, capital of Kenya from December 15 to 18 at secretariat yesterday.
Tofail led some 48 least development countries as coordinator in the meeting.
Pharmaceutical drug patent waiver extended till 2033 for LDCs in the meeting that would help Bangladesh to improve the pharmaceuticals sector, commerce minister said.
He further said the people of Bangladesh can buy medicine at cheap price due to extension of patent waiver on pharmaceuticals products.
Earlier WTO’s Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) extended the drug patent exemption for Least Developed Countries (LDCs) including Bangladesh till 2032.
The meeting also decided to provide subsidy on domestic transport on agro products export, Tofail noted.  
“We have to be prepared to send physician and engineers to the developed country and from 19 countries we have received assurance.”
However he said the physician and engineers of Bangladesh will have to achieve European standard. Senior secretary of commerce ministry Hedayet Ullah Al Mamun, additional secretary (WTO cell) Amitabh Chakrabarty, and Managing director of Incepata Pharma Abdul Muktadir were present at the briefing.

 

WTO decision to benefit Bangladesh: Tofail

The decision on Preferential Market Access would provide Bangladesh greater access to the global market Commerce Minister Tofail Ahmed

Commerce minister Tofail Ahmed said Bangladesh could use up to 75 per cent non-originate materials of export items for the final value of a product. He said that while briefing the journalist on the WTO conference at his secretariat office yesterday. The minister said 48 LDCs, including Bangladesh, would get significant benefit from two decisions - Rules of Origin and Preferential Market Access. Commerce minister said two important issues were taken in the meeting in favour of LDCs- first one is rules of origin and second is preferential market access in service sector for LDCs. Under the Rules of Origin, the LDCs including Bangladesh could use up to 75 per cent non-originate materials of the final value of a product, he said The decision will accelerate the countrys export products including Ready-Made Garments (RMG), chemical and agro-processing products, he added. Tofail said the decision on Preferential Market Access would provide Bangladesh greater access to the global market. However, the minister pointed out that the country should enhance skill to tap the advantages of the preferential market access, especially in labour-incentive sectors. Under the decision of Preferential Market Access, LDCs including Bangladesh has got an extension up to 2030 service waiver. As a citizen of Bangladesh, I straight said we stood up on our own feet. We will not bow down to any country, he added. I have told them the economy of Bangladesh is strengthening and our export increasing to your country. This year it will reach to $ 6 billion. He said that at a press briefing on recent WTO ministerial meeting held in Nairobi, capital of Kenya from December 15 to 18 at secretariat yesterday. Tofail led some 48 least development countries as coordinator in the meeting. Pharmaceutical drug patent waiver extended till 2033 for LDCs in the meeting that would help Bangladesh to improve the pharmaceuticals sector, commerce minister said. He further said the people of Bangladesh can buy medicine at cheap price due to extension of patent waiver on pharmaceuticals products. Earlier WTOs Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) extended the drug patent exemption for Least Developed Countries (LDCs) including Bangladesh till 2032. The meeting also decided to provide subsidy on domestic transport on agro products export, Tofail noted. We have to be prepared to send physician and engineers to the developed country and from 19 countries we have received assurance. However he said the physician and engineers of Bangladesh will have to achieve European standard. Senior secretary of commerce ministry Hedayet Ullah Al Mamun, additional secretary (WTO cell) Amitabh Chakrabarty, and Managing director of Incepata Pharma Abdul Muktadir were present at the briefing.