Issues of regional trade and connectivity must be addressed through political consensus on national interest, experts said Saturday.
They also stressed the need for maximum resources utilisation and product diversification to reap due benefit of regional blocs.
As scenarios in different regional and sub-regional blocs have been changing, taking into account the changes taking place with influence of India and China, they also emphasised cooperation in Southeast Asia including Myanmar.
They said removing distrust with member-countries out of political dilemma should get priority as many forums could not perform properly.
At a seminar on ‘Bangladesh in Regional Trade and Connectivity’ at BIISS, they also said although Bangladesh engages with different regional forums, influence of India and China causes obstruction in getting the country’s potential bilateral, sub-regional and regional forum.
Organised by the Centre for Governance Studies (CGS), the seminar was addressed by Commerce Minister Tofail Ahmed as chief guest and former BNP minister Chowdhury Kamal Ibne Yusuf as guest of honour.
Former UNDP official and a PhD of HUST School of Economics Shahidul Islam presented the keynote paper at the seminar, focusing on increasing trade competitiveness, global-chain value, trade in task to improve the scenario of the country in the region. He said bilateral trade of Bangladesh with different member-countries, including India and China, increases with higher rate of growth in trade deficit. Strong manufacturing sector and infrastructures are a must for connectivity, including regional connectivity, he added.
Dr Shahidul said Bangladesh opportunities need to be assessed through changes in economic dynamics due to US political change and influence of India and China as well as Japan’s innovation.
Among others, President of JSD ASM Abdur Rob, Chairman of Bangladesh Institute of International and Strategic Studies (BIISS) Ambassador Munshi Fayes Ahmed, Ambassador Ashfaqur Rahman, Dr Zafrullah Chowdhry, former NBR Chairman Dr Muhammad Abdul Mazid, Editor of the Financial Express Moazzem Hossain, former FBCCI President Mir Nasir Hossain, International Development Specialist Enam Ahmed Chaudhury, Assistant Secretary of International Affairs of BNP Barrister Rumeen Farhana, former President of Bangladesh Chamber of Industry Shahedul Islam Helal, former President of DCCI Asif Ibrahim, Banker Mamun Rashid, Vice Chairman of CGS Dr Manjur Ahmed Chowdhury and Barrister Ahsan Habib Bhuiyan of Bangladesh Supreme Court spoke at the seminar.
The commerce minister said influence of India and China is visible not only in SAARC but also other blocs. Despite all barriers, the country is ahead of economically developed countries including Pakistan and India, he added.
He told the meet that Bangladesh’s success has now been counted as a model for the poorest countries in the world and added that removing political difference on different issues is essential to increase trade and productivity.
“Bangladesh is the only country where political consensus does not exist. But there is no difference on economic point among political parties,” he said, adding that economic growth is visible during all the periods of government.
Mr Ahmed, also an Awami League veteran, said regional or bilateral relations do not take place between political parties – it is between government and government.
Chowdhruy Kamal Ibne Yusuf laid importance on removing the non-tariff barriers and said Bangladesh can be a hub of Asian transportation trade through focusing on sea route and ‘One Belt, One Road’ initiative.
The ex-minister said apart from focusing only revenue earning, the country should focus on development of ports and economic benefit to be reaped from the region.
Former NBR chairman Dr Mohammad Abdul Mazid focused on balanced development in the region and improving negotiation power of the country and said scope of new initiative like Asian Exchange under BCIM Economic Cooperation should get priority to reap the benefit of regional connectivity apart from cooperation in various sectors, including energy.
Ambassador Munshi Fayez Ahmed said scope of increase in trade of similar products should be utilised through creating overseas employment, working on the climate-change issues, trade facilitation and trade assistance. The country’s focus should be on the Southeast Asian countries, and Myanmar can be the way towards it.
Asif Ibrahim focused on proactive role in having free-trade agreement (FTA) with different countries and utilising deep-sea ports to reduce lead time of trade. He also said political parties should be united on state and economic issues forgetting differences.
He noted Bangladesh has shifted its development from a country of natural calamity to a country of higher remittance earning and migrant workers, which could also be linked with regional integration.
Editor of The Financial Express Moazzem Hossain laid emphasis on connectivity with a clear contextual understanding of what the ‘region’ means for Bangladesh. He said the connectivity is not merely a trade-centric issue. It is also important for attracting trade-creating investments.
Despite India-China conflict, India remains one of the major destinations for overseas investments by China, he told the meet, adding that policymakers should address the issues of changes taking place due to global multinational trade arrangement.
The editor also requested the government to focus on reducing cost of doing business as well as pursue ‘act-first’ policy to reap the benefit of connectivity.
Economic analyst Harunur Rashid requested the government to focus on reducing trade deficit through tariff imposition and said national-security issues play roles in trade and regional connectivity.
Barrister Rumeen focused on national security and national interest while negotiating regional trade and investment. She said one-way benefit creates doubt about the country’s negotiating power and role in different blocs, including a neighbouring country.
Dr Manjur Ahmed Chowdhury laid importance on the security issues, citing examples of Bhutan and Nepal, for having regional cooperation with India. Bangladesh should focus on East Asian countries and Myanmar should get priority in this connection, he said, adding: national consensus should be earned to take a strong stand and bargaining capacity in the region.
Dr Jafarullah spoke for open-minded political ideology that protects national security, successful investment in the country ensuring labour interests and employment generation.
He said clear idea on the changes in geopolitics and conflicts could help the country reap timely benefits from the region.
Banker Mamun Rashid laid importance on making ports workable for utilising economic corridors in South, Southeast Asia and said good governance, checking corruption are also a must to improve the country’s capacity to operate ports and negotiate in the region effectively.
Abdur Rob called for focusing on political economy and said only economic focus cannot help the country earn the capacity of negotiation in trade and business in the region in the current context.
News Courtesy: http://print.thefinancialexpress-bd.com/2017/08/20/181110