Bangladesh should be
better prepared to derive maximum
benefits from the South Asian Free
Trade Area (SAFTA) agreement which
comes into effect in January 2006,
speakers told a seminar in Dhaka
yesterday.
They said political
consensus on economic policies is
vital to keep the economic situation
stable and enhance trade and
investment.
The seminar on
"Follow-up of SAARC Summit decisions
concerning SAFTA and energy
cooperation" was organised by South
Asia Centre for Policy Studies (SACEPS),
Centre for Policy Dialogue (CPD) and
New Delhi-based Research and
Information System for the
Non-aligned and Other Developing
Countries (RIS).
The South Asia
Development and Cooperation Report
was launched at the seminar.
Speaking at the
inaugural session, Foreign Minister
M Morshed Khan stressed the need for
a national policy on economic
issues. "Government will change but
economic issues should not be
affected with the change of
government."
Professor Rehman
Sobhan, chairman of CPD, presided
over the inaugural session.
Tofail Ahmed, Awami
League leader and former commerce
and industries minister, at another
session criticised India for not
implementing its commitment of
giving duty free market access for
25 Bangladeshi items.
"South Asian
preferential trading arrangement has
not been implemented. If we want to
implement SAFTA, we should be
prepared well," Tofail said at the
session on "Implications of Building
a South Asian Free Trade Area."
M Syeduzzaman, former
finance minister, chaired the
session held at BRAC Centre
conference room.
Awami League lawmaker
Kazi Zafarullah said political
consensus is necessary to keep the
economic situation stable. "We must
encourage banks to open branches in
some key areas like Siliguri in
India," he suggested.
Mostafa Abid Khan of
the Tariff Commission said the rules
of origin should be as simple and
relaxed as possible. "If rules of
origin are stringent, Bangladesh
will not be able to enhance export
to the countries in the region."
Amjad Khan Chowdhury,
chief executive of Pran Group, said
duty regulations should be
harmonised to increase trade among
the South Asian countries.
"Deriving maximum
benefits from SAFTA will critically
hinge on the quality of homework
that Bangladesh is able to do over
the coming days and months," said
Prof Mustafizur Rahman, research
director of CPD, a local think-tank.
Making a presentation
on "Operationalising SAFTA:
Strategic Perspective from
Bangladesh," he said Bangladesh
needs to do further homework for
identifying para-tariff and
non-tariff barriers and undertaking
trade facilitation measures.
Dr Dushni Weerakoon,
research fellow of the Institute of
Policy Studies (IPS) of Sri Lanka,
made a presentation on SAFTA treaty.
"The realities and
geo-politics of the region will
determine the pace of negotiations
in SAFTA and the treaty will mainly
promote Indo-Pakistan trade," the
IPS researcher said
Dr Nagesh Kumar, director general of
RIS, said it is necessary to create
a conducive environment for trade
and investment in the region. Dr
Kumar made a presentation on the
South Asia Development and
Cooperation report.
Indian High Commissioner in Dhaka
Veena Sikri also spoke at the
inaugural session.
