VOL NO REGD NO DA 1589

Tuesday, November 01, 2005

HEADLINE

POLITICS & POLICIES

METRO & COUNTRY

VIEWS & REVIEWS

EDITORIAL

LETTER TO EDITOR

COMPANY & FINANCE

BUSINESS & FINANCE

TRADE/ECONOMY

LEISURE & ENTERTAINMENT

MARKET & COMMODITIES

SPORTS

WORLD

 

FE Specials

FE Education

Urban Property

Monthly Roundup

Saturday Feature

Asia/South Asia

 

Feature

13th SAARC SUMMIT DHAKA-2005

WOMEN & ECONOMY

57th Republic Day of India

US TRADE SHOW

 

 

 

Archive

Site Search

 

HOME

COMPANY & FINANCE
 
Govt mulls subsidy in utility services for businessmen to raise export
FE Report
11/1/2005
 

          The government is likely to give subsidy in utility services instead of cash subsidy in production to help the businessmen in enhancing export growth as the local products have been losing market access to other countries.
The cash incentives will be withdrawn and subsidy in the utility services like gas, electricity and water will be enforced in the production process of export-oriented products as the existing cash incentives are being mismanaged by some quarters, said Commerce Secretary Faruque Ahmad Siddiqi at a keynote paper presentation programme as the chief guest Monday.
The keynote paper on "Market Access Barriers Confronting LDCs' Products" was prepared under Economic Reform and Research Advocacy (ERRA) and submitted by Mohammad Hossain, the former managing director of the Sonali Bank.
The Dhaka Chamber of Commerce and Industry (DCCI) implemented the project in collaboration with the Centre for International Private Enterprise (CIPE), an affiliate of the US Chamber of Commerce, Washington DC, USA.
"Developing the products, producing demand-based items and innovation in production can save us from the western protectionism," said President of the DCCI Sayeeful Islam while he was presiding over the programme.
The communication gap between the chamber leaders and the Commerce Ministry is one of the important local barriers for getting market access of the Bangladeshi products to the international market.
The non-cooperation in providing time-to-time information by the ministries concerned is another major barrier in exporting, he said.
In the keynote paper, the author identified the local barriers as more dangerous than external barriers in getting market access of the local products to the international market.
Locally, the labour issues, corruption, quality of the products, some social compliances and environmental problems are not being addressed properly, the author pointed out in his keynote paper.
Former commerce secretary Sohel Ahmed Chowdhury said if Bangladesh fails in the multilateral trade negotiations there is possibility of preference erosion, which will be an important barrier in the foreign market access.
He urged the government to negotiate for the relaxation of Rules of Origin (ROO) with countries concerned to develop the trade related capacity and for enhancing supply side.
"Bangladesh, as an LDC, should try to remove the barriers in the attraction of FDI as the local resources are not solely able to meet the demand," Chowdhury said adding MODE-4 can solve the problem to greater extent if the present negotiation in this connection succeeds.
Emphasising the need for accreditation certificates from proper sources Alamgir Faruque, another former commerce secretary, said subsidy in the manufacturing industries will help boost export.

 

 
  More Headline
FBCCI signs a trade boosting MoU with Georgian Chamber
'No collusion' by D Börse rebels
Proshika donation for ‘monga’-hit people
Dollar steady against euro before interest rate moves
Police seize Tk 1.5m smuggled Indian sarees
IFIC Bank opens its 63rd branch at Choumuhani
Japan's Pioneer plunges into the red
Prime Bank's IBB holds seminar on Ramadan
Asian stocks close sharply higher, led by Wall Street
Correction
corporatewatch
Govt mulls subsidy in utility services for businessmen to raise export
Call rate moves slightly, dollar gains in kerb market
Prothom Alo becomes GP's corporate client
Price indices rise at bourses
Govt borrows Tk 8.103b thru' T-bills
Northern General Insurance approves 10pc dividend
 

Print this page | Mail this page | Save this page | Make this page my home page

About us  |  Contact us  |  Editor's panel  |  Career opportunity | Web Mail

 

 

 

 

Copy right @ financialexpress.com