Assistance for middle-income countries not discussed

Assistance for underdeveloped countries through subsidies has always been discussed but such assistance for middle-income countries to address challenges of their United Nations status graduation has not been discussed before, speakers told a roundtable in Dhaka yesterday.

This is the first time all middle-income countries, including Bangladesh, have received a sort of assurance of cooperation in principle from the developed countries, they said.

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This will create a ground for more detailed discussions for such cooperation in the future, they added.

The programme styled "Results of the 12th WTO Ministerial Conference" was organised by the Institute of Chartered Accountants of Bangladesh (ICAB) on its premises, said a press release.

Sharifa Khan, secretary to economic relations division, as chief guest said Bangladesh would become an upper-middle income country by 2031 if everything goes well.

Thereafter, Bangladesh will have no duty-free access to international markets, she said.

Successful trade negotiations with the international platforms should be continued along with domestic resource mobilisation in order to meet these challenges, she said.

The government is working to create a business-friendly environment in the country, she said.

"The private sector should focus on producing its own products, diversification, and the quality rather than just looking at subsidies so that Bangladesh can attain a sustainable position in international trade," she said.