Commerce Secretary Md. Ataur Rahman Khan shared this information as the chief guest at the validation workshop of the Country Program Document held at the conference room of the Ministry of Commerce on Sunday (July 19).
He said that Bangladesh is currently facing important challenges such as non-tariff barriers to exports, international compliance, and improving the investment environment, alongside preparations for LDC graduation. To address these challenges, recommendations from the previous phases of the EIF have been incorporated into the new action plan.
The Commerce Secretary informed that a total of 12 priority activities have been included in the Country Program Document, which are aligned with enhancing the country's trade capacity and necessary reforms.
He said that implementation is the most important aspect, not just research or policy formulation. The benefits of these reforms must reach the grassroots level through the ministry, departments, and relevant agencies.
He further stated that emphasis is being placed on improving the business environment through trade facilitation, liberalization, reform of relevant laws and regulations, and coordinated activities of various ministries.
At the workshop, Additional Secretary (WTO) of the Ministry of Commerce, Khadija Naznin, said that the WTO's EIF program helps enhance the trade capacity of LDC countries. Several development partner countries, including the UK, the European Union, and Sweden, fund this program.
She informed that Bangladesh has already completed the first two phases of the EIF. The first phase was implemented from 2009 to 2015, and the second phase from 2016 to 2024. Based on the Country Program Document prepared for the third phase, Bangladesh will receive new financial support, and this five-year program is likely to start this year.
EIF Consultant and former Additional Secretary Md. Hafizur Rahman said that in formulating the new action plan, recommendations from the Diagnostic Trade Integration Study (DTIS), export policy, industrial policy, trade policy, the Trade Facilitation Agreement, and various strategies and studies related to investment facilitation were considered.
He informed that although 52 potential projects were initially identified, they have been prioritized and limited to 12 activities considering implementation capacity and potential support from development partners.
These activities include enhancing export capacity, trade facilitation, improving the investment environment, institutional capacity building, training, research, and the use of artificial intelligence (AI) technology.
Additional Secretary (FTA) Ayesha Akhter, Additional Secretary (IIT) Shibir Bichitra Barua, and representatives from various ministries, government agencies, and relevant stakeholders were present at the workshop.
Participants expressed hope that through the implementation of this third phase of the EIF program, Bangladesh's competitiveness in international trade will increase even after LDC graduation, and it will play a positive role in attracting new investments.
