Bangladesh will implement a new five-year action plan to strengthen its trade capacity, improve investment climate and enhance global competitiveness as it prepares for graduation from the least developed country status, a top Commerce Ministry official said.
The initiative will be implemented through the Country Programme Document prepared for the third phase of the WTO-led Enhanced Integrated Framework.
The initiative will be implemented through the Country Programme Document (CPD) prepared for the third phase of the Enhanced Integrated Framework (EIF), a World Trade Organization (WTO)-led programme that supports LDCs in building trade capacity.
Bangladesh’s economy is currently passing through a critical phase as it prepares for LDC graduation while simultaneously addressing challenges such as non-tariff barriers, international compliance requirements and the need to improve the investment environment, he was cited as saying by a release from the ministry.
“The recommendations made under the previous phases of the EIF have been duly reflected in the Country Programme Document. The document contains 12 priority activities, each aligned with Bangladesh’s trade capacity development and reform agenda,” he said.
He also underscored the importance of trade facilitation, trade liberalisation, legal and regulatory reforms and stronger coordination among ministries to improve Bangladesh’s overall business environment.
Fibre2Fashion News Desk (DS)
