** Why gas only, their crisis is multiplying everywhere ** A number of children admitted to Thakurgaon Adhunik Hospital for cold-related diseases compelled to stay along with their parents outside of the hospital due to lack of beds. This photo was taken on Wednesday. ** 1 in 3 BD kids fed properly ** ADB trims GDP growth forecast ** HC orders freeze on Evaly asset sale ** Truck, covered van workers call off strike ** Another case filed against Evaly couple ** SAARC FMs' UN assembly sideline meet over Afghanistan cancelled ** Biden pledges 500m jabs for developing nations ** e-commerce scams Writ seeking judicial probe ** Supply shortfall hits gas sector ** AI demands 2b Covid jabs for poor nations ** US should ask forgiveness for betraying its core values and mass killing ** Hundreds of people crowd in front of a Covid-19 vaccine centre at Mugda in the capital on Tuesday. ** Can e-commerce be rescued? High-level meet today ** High fever common among city children IEDCR for early diagnosis ** Evaly CEO remanded again, wife sent to jail ** Truck, covered van owners, workers go on 72-hour strike ** HC rule for stopping fraudulent ad ** ACC frames charges against ex-DGHS driver, his wife ** Suu Kyi goes on trial for incitement ** Aggrieved customers and sellers of controversial e-commerce platform Evaly engage in a scuffle in front of CMM court in the capital on Tuesday. ** Covid infection rate drops below 5pc ** Garment worker gang-raped in Chattogram ** Biden urges unity at UN amid tensions with allies **

More linkage industries, EZs required for sustainable LDC graduation

27 July 2021

Business Desk :
Speakers at a webinar on Monday laid emphasis on upgrading hard and soft business infrastructures; encouraging linkage industries and establishment of special economic zones; and active pharmaceutical ingredient (API) park for smooth and sustainable graduation of Bangladesh from LDC status by 2026.
They also advocated for establishment of more fashion design institutes; raising competitiveness by increasing productivity and reducing cost of production; improving business climate and trade facilitation system for sustainable LDC graduation.
They said permanent graduation from the LDC status would be recognition of real development of the country and the living standards of the people, although Bangladesh will face many challenges.
The experts said this at the virtual webinar on ''LDC graduation: Challenges and Opportunities'' organised by the Institute of Chartered Accountants of Bangladesh (ICAB) on Monday.
They noted that the country has developed significant trade-related capacity and adaptability, even after withdrawal of GSP by the US.
The predictions of disaster in the RMG sector during the phasing out of Multifibre Arrangement through Agreement on textiles and clothing, was not true as Bangladesh successfully steered clear of the Global financial crisis having little or no impact on its exports, said a press release.
Planning Minister MA Mannan MP graced the webinar as the chief guest while Sharifa Khan, Member (Secretary), Industry and Energy Division, Planning Commission was present as special guest.
ICAB President Mahmudul Hasan Khusru delivered the welcome address while ICAB Member Council and Past President Md. Humayun Kabir presided over the webinar as the session chairman.  Shubhashish Bose, CEO of ICAB and former senior secretary presented the keynote paper.
 Mostafa Abid Khan, Member, Bangladesh Tariff Commission (BTC), Ali Hussain Akber Ali, Chairman, BSRM; Syed Nasim Manzur, Managing Director, Apex; and  Monzur Ahmed, Adviser, FBCCI were panel speakers of the webinar. Speaking on the occasion as the chief guest, Planning Minister MA Mannan said that the LDC graduation would bring a mixed set of new realities and the country would lose a wide variety of preferences and privileges in global trade.
 "As the duty-free benefits under the World Trade Organization (WTO) regime will no longer be effective, our exports will face new challenges," he said adding that tariffs on Bangladesh's products in major international markets and its debt servicing liabilities will increase due to cessation of concessional finance into the country.
"We need to create a proper enabling business environment in the country," he suggested.
Mannan also said that the government has taken many initiatives including signing of preferential trade agreements with more countries to increase the overall competitiveness of trade and commerce.
 ICAB President Mahmudul Hasan Khusru said, both the private and public sectors should prepare to face the post LDC graduation challenges.
He said that the government is developing 100 special economic zones and more than two dozen Hi-Tech parks to meet the demand of the investors.

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