Bangladsh's Trade Imperative

Bangladsh's Trade Imperative

  • Submitted By: bijoy
  • Date Submitted: 01/20/2010 11:24 PM
  • Category: Business
  • Words: 1155
  • Page: 5
  • Views: 401

The world has evolved and grown over the centuries to its present stage through interstate trade. Need for wealth and resources forced countries to look and move outward beyond their own political boundaries. There was a time when sailors crossed the seas calculating the fair wind. The evolution of “Kingship” from landed gentry expedited evolution of trade, commerce and economy for sustaining the machinery of state. The kings/ emperors used to throw their weight behind the merchant ships sailing from continent to continent. At one point, interests of traders and kingdoms coincided. The ships then used to ply with the authority of the states.

We find many such examples in the pages of history. The Dutch, Portuguese or British ships anchored in the southern coast of India following the tradition. The complexity of trade treaties ultimately culminated in the subjugation of many kingdoms and nations and gave rise to the curse of colonialism. Centuries have elapsed, people’s perceptions have changed and the subjugation has now taken different forms. Now the subjugation has taken the form of treaties or agreements .

Bangladesh being the lead trade actor among the LDCs, it has a very profound trade interest and it aspires to be a middle income nation by 2021 through export driven growth. It has already signed bilateral investment treaty with 27 countries and in the process of negotiation with another 16 countries. It has operative double taxation treaty with 23 countries and is negotiating with another 21 countries to avoid double taxation for boosting trade and investment. Bangladesh is a member of South Asian Free Trade Area(SAFTA), Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC),Developing -8 Preferential Trade Agreement (D-8PTA) and Trade Preferential System among the OIC countries(TPC-OIC). It is also negotiating to become a party of Asia Pacific Trade Agreement (APTA). For last few years the export...

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