At the end of every road there are opportunities
This is a great milestone achievement. We would like to thank the government for its persistent efforts for the development of Bangladesh in the last decade and so on. Whenever we talk about challenges, at the end of every road there are opportunities.
At the same time, inclusion of the private sector for the graduation in all courses of consultation related to post-graduation is very essential. Of course the government has already been engaging with the private sector.
The Dhaka Chamber has been the most active trade association. In 2021, we have had several dialogues, focused group discussions, seminars and conferences related to risk regarding LDC graduation.
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Besides, the DCCI is one of the members of the prime minister's national committee for implementation of the LDC graduation.
We will have some challenges in the coming days in export regarding the tariff facility for readymade garments and extension of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) for the pharmaceuticals sector. We should put emphasis on those issues in negotiation.
At the same time, we have to focus on export diversifications – products and market diversification – as the prime minister has been prioritising those issues.
We have to facilitate and incentivise six emerging sectors – jute textiles, pharmaceuticals, plastic, footwear, leather and ICT, just like the apparel sector which has established "Made in Bangladesh" as a global brand.
In the 50 years of independence, today Bangladesh has earned about $38 billion from the garment sector. If we facilitate the emerging sectors by allocating lands and ensuring uninterrupted supply of electricity and gas, they would be able to bring such foreign earnings.
We have to strengthen the local industries to attract more foreign direct investment, as foreign investors observe the situation of local industries. We hope that if we provide the same facilities to local industries, that will help us convert LDC graduation related challenges into opportunities.
Rizwan Rahman, president of Dhaka Chamber of Commerce and Industry
