Commerce Adviser cautions LDC graduation a 'Time Bomb’

He made the remarks at a reception hosted by the Bangladesh Textile Mills Association (BTMA) at Gulshan Club on Sunday night.

“A fascist has left a time bomb in front of us. We must talk about LDC graduation, otherwise, our market access will be hindered. We are only discussing the $8 billion market in America, but we are not talking about our $48 billion market. We have to address the LDC issue and work on this challenge,” he added.

The event was organized by the BTMA to honor the government's delegation for their successful efforts in reducing tariffs in the US market from 35 percent to 20 percent.

Other notable attendees included National Security Advisor Dr. Khalilur Rahman, Commerce Secretary Mahbubur Rahman, and Additional Secretary of the Ministry of Commerce's WTO Wing, Dr. Nazneen Kaoser Chowdhury.

In his speech, the Trade Advisor stated that trade negotiations are still ongoing and that the delegation may return to the US in the next couple of weeks if necessary.

When asked about a "secret agreement," he responded, "Let the secret agreement remain a secret. What will be left to discuss in talk shows if everything is revealed?"

Sheikh Bashir also said, "We have committed to reducing the trade deficit by 75 percent within a year. There has been discussion in the country about us buying airplanes from America, but I don't think America took the matter of buying airplanes very well."

He added that the government is working on import policies with the aim of liberalization, simplification, and making it easier to do business in the country.

BTMA President Shawkat Aziz Russell gave the welcome speech at the event, while BGMEA President Mahmud Hasan Khan and BKMEA President Mohammad Hatem also spoke at the event.

Former leaders of different trade bodies, senior businessmen were present in the program, reports UNB.