Economic analysts at a roundtable discussion opined that the agricultural subsidies are important for our food security. Despite being a net importer of food and agricultural products, Bangladesh is yet to be included in the category of Net Food Importing Countries.
They said there was no agreement on agriculture at MC13 of the World Trade Organisation, took place recently in Abu Dhabi, UAE. Bangladesh also has concerns regarding export restrictions by other countries.
The roundtable discussion on "The outcome of 13th Ministerial Conference, Abu Dhabi, UAE", was organized by the Institute of Chartered Accountants of Bangladesh (ICAB) at CA Bhaban in the city.
Distinguished fellow of the Centre for Policy Dialogue (CPD) Dr Mustafizur attended the event as the chief discussant, who was also the Paper Presenter on the outcome of 13th Ministerial Conference while ICAB President Mohammed Forkan Uddin FCA delivered address of welcome. Dr Mustafiz said that Bangladesh is doing well in all the indicators to be promoted from the least developed country status to a developing country.
"If everything goes well, by November 2026, Bangladesh will come under the category of a developing country," he said.
He said as a result, being a less developed country, the issue of continuing the benefits such as duty free, quota free access and preferential treatment for some more time should be strongly negotiated.
"Japan, Canada and South Korea have been providing tariff benefits to LDCs, and we need to negotiate with them to continue the benefits, "he added.
ICAB CEO Shubhashish Bose also spoke on the occasion. The other discussants were Md. Hafizur Rahman, Member, Competition Commission, Md. Al Amin Pramanik, Economic Minister, Permanent Mission of Bangladesh to the United Nations and other International Organizations in Geneva, Switzerland; Mohammad Mashooqur Rahman Sikder, Joint Secretary (WTO Section-2), Ministry of Commerce; Dr. Mostafa Abid Khan, Component Manager, LDC Graduation Project, Economic Relations Division (ERD); ICAB former President Md. Shahadat Hossain, Nesar Ahmed , International Trade Expert, Support to Sustainable Graduation Project, Economic Relations Division (ERD); and Former Joint Secretary, Ministry of Commerce;. Manzur Ahmed, Advisor, The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI); Ferdaus Ara Begum , Chief Executive Officer (CEO), Business Initiative Leading Development (BUILD);Dr. Shishir Kumar Dev, Former CEO, BFTI; Zakir Hossain, Associate Editor, The Daily Samakal; Mohammad Refayet Ullah Mirdha, President of Economic Reporters' Forum (ERF); and S M Rashidul Islam, Senior Reporter
of Bangladesh Sangbad Sangstha, Dhaka.
ICAB President Mohammed Forkan Uddin said that WTO is an alternative dispute or mediation entity which upholds the international rules of trade.
The 13th Ministerial Conference was very important as Bangladesh is set to graduate out of the group of least developed countries (LDCs) on November 2026, he added.
"We need to think about the situation after LDC graduation, in terms of preferential market access, preferential treatment for services and service suppliers and special treatment regarding obligations and flexibilities under WTO rules," Forkan added.
He said the Ministerial Conference approved a two-year extension of the E-Commerce moratorium. "Even if we lose some revenue, it will help in implementing the government's Smart Bangladesh Vision by 2041," he added.