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          Bangladesh should raise a common voice along with other least developed countries (LDCs) and, at the same time, protect its own strategic economic interests at the forthcoming Hong Kong Ministerial of the World Trade Organisation (WTO), the Metropolitan Chamber of Commerce & Industry (MCCI) suggested this.
In its suggestions given to the Ministry of Commerce for the ministerial meeting considering it as an important milestone in the multilateral trading system, the MCCI said agriculture is the important and sensitive sector in Bangladesh's economy contributing nearly 21 per cent to its gross domestic product (GDP) and 60 per cent to the employment.
"Bangladesh is also a food importing country. Textile occupies a significant space in our industrial sector. Therefore, while pressing for the elimination of agricultural subsidy by the developed countries, its implications for Bangladesh's economy should be kept in view," it pointed out.
"In the non-agricultural sector, though the LDCs are not bound to undertake any tariff reduction commitment, they have a number of concerns with regard to erosion of preferential margins presently available under various Generalised System of Preference (GSP) schemes. Bangladesh should make a careful analysis and safeguard its own interests," it added.
The chamber identified agriculture, non-agricultural market access (NAMA), services, rules, trade facilitation and development as the core issues of the Hong Kong Ministerial.
About agriculture, the MCCI suggested that Bangladesh should pursue for maintenance of the status quo relating to de minimis level in domestic support in the LDCs. "It should ensure that commitment to elimination of export subsidy including export credit guarantee scheme does not apply to the LDCs," it added.
About NAMA, Bangladesh's main concern, according to the MCCI, is duty free access of garment and other products to the US and also to the advanced developing countries.
"Bangladesh should pursue to fix a date, more specifically the date of finalisation of modalities in NAMA for implementation of commitment duty free access. Since tariff rates are low in Bangladesh, the country may easily agree to increase its binding coverage with commitment to reduction in exchange of binding commitment by the developed countries with flexible rules of origin. Bangladesh should also focus on non-tariff barrier (NTB) issues so that its exports have easy access to the developed countries, it stated.
In this context, Bangladesh may pursue adequate technical assistance for compliance of NTBs which are compatible with WTO Agreement, the MCCI said.
About trade in services, the MCCI said Bangladesh should pursue the issue of temporary movement of natural persons. "The restriction on entry by natural persons in guise of economic needs test (ENT), and national security should be removed by the developed countries."
"However, Bangladesh should identify the sectors on which it has specific export interest and accordingly negotiate with the WTO members for implementation of the modalities adopted for the LDCs. Bangladesh should also identify the sectors in which it can undertake commitment," it added.
About rules, the MCCI said considering a narrow export base of the LDCs, Bangladesh should demand a moratorium on safeguard measures and anti-dumping actions against the LDCs at least for a period of five years.
"Besides, the LDCs should be free of being imposed any countervailing duties in case of subsidies granted or the upgradation o technology and diversification of industrial base. In order to facilitate the process of industrialisation of the LDCs, necessary subsidies for import substitution should be admissible," it noted.
About trade facilitation, the chamber said there has been hardly any progress on this issue. "However, Bangladesh should make an assessment of the existing trade facilitation measures and identify the trade facilitation needed for Bangladesh and for the LDCs as a whole. Bangladesh should examine the level of commitment that it can undertake," it noted.
About development, the MCCI noted that the issue "is interpreted in the WTO only in the context of Special & Differential (S&D) treatment and implementation related issues."
While welcoming the work done by the special Committee on Trade and Development, Bangladesh should maintain that the development dimension of the LDCs in the context of the WTO means secured, predictable and meaningful duty-free access for all products of the LDCs, flexibility in undertaking commitment, adequate technical assistance for LDCs for enhancing the export and production base, measures for offsetting any negative effect of WTO trade liberalisation on the LDCs, the MCCI noted.