Commerce Adviser Sheikh Bashir Uddin said Bangladesh needs to enhance the capacity of different business organizations and human resources to enjoy the benefits of LDC graduation.
"It (LDC Graduation) indeed marks a pivotal moment of economic status. As a result, to enjoy the graduation, we need to enhance the capacity of different business organizations and human resources also," he said.
The commerce adviser said this while inaugurating the three-day National Workshop on WTO Dispute Settlement at a city hotel on Tuesday (3 December).
Presided over by Commerce Secretary Md Selim Uddin, Director at Legal Affairs Division of World Trade Organization (WTO) Jorge Castro spoke on the occasion while Additional Secretary, WTO Wing of the Ministry of Commerce Dr Nazneen Kawshar Chowdhury made the welcome remarks.
Jointly organized by the Ministry of Commerce and WTO, the Workshop is supported by the Export Promotion Bureau (EPB) and the FBCCI.
Bashir also hinted that Bangladesh is poised to graduate from the LDCs in November, 2026.
Terming it as a 'golden opportunity' for all, the adviser said, "I think as the trade is evolving, more and more regime is evolving. So, the ideal word should be not to have any dispute...But, you will definitely have disputes,"
Since Bangladesh is graduating, Bashir said that on the front of country's external trade, many issues would evolve while exporting something to the trade partners.
"I think our exports are not diversified as our export basket is very depending on a single product," he added.
The commerce adviser said, "As we graduate we need such soft skills to be able to sustain and to grow our trade volumes."
He said after graduation, Bangladesh would engage in bilateral and multilateral negotiations to sign Economic Partnership Agreement (EPA) and Comprehensive Economic Partnership Agreement (CEPA).
"Moreover, we will engage with regional business groups such as, EU, SASEC, and ASIAN and so on. Various disputes will arise during the negotiations with different countries and regional business groups," he added.
The workshop focuses on basic characteristics of the WTO dispute settlement system, main actors of WTO dispute settlement system.
Besides, it briefly discusses the WTO agreements, basic principles of GATT, decision making process and dispute related issues.
The adviser hoped that the participants of this course will acquire knowledge of the role of WTO dispute settlement in the multilateral trading system, the main stages of WTO dispute settlement procedures, the role of complainant, a respondent and a third party in a WTO dispute and the dispute settlement issues.
Furthermore, as a member of WTO, he said Bangladesh has an interest in ensuring that the dispute settlement system of WTO remains the central element in providing security and predictability to the multilateral trading system.
This is particularly important for developing countries including LDCs who benefits from having stability, constancy, and predictability to both.
Aftermath of this workshop, the commerce adviser said the participants would be aware of the underlying structures and procedures and the application of rules.
Officials from the Ministry of Commerce, WTO, different government organizations, representatives from business organizations, academician from different universities are taking part in the workshop.
