BD for joint efforts to overcome barriers to regional dev
UNB, Dhaka :
South Asian countries need to make sure together whether the trade deals – TPP and TTIP – initiated by the developed countries stands in the way of development of the countries, said Commerce Minister Tofail Ahmed.
“All countries in the South Asia will have to work together to overcome all the barriers to regional development,” he said.
The Commerce Minister, now in India, made the remarks while addressing the Partnership Summit at APIIC Ground, Harbour Park, Visakhapatnam, Andhra Pradesh, according to Commerce Ministry here.
Tofail laid emphasis on expanding regional trade and mentioned that many developed countries are signing trade deals like Transpacific Partnership (TTP) and the Transatlantic Trade and Investment Partnership (TTIP).
“Time has come to check whether these deals are against the decision taken in favour of the least developed countries (LDCs) in the WTO (World Trade Organization),” he said.
TTIP is a proposed free trade agreement between the European Union and the United States, aiming to promote multilateral economic growth while TPP is US-led 12-country trade pact that will help increase Made-in-America exports, grow the American economy, support well-paying American jobs, and strengthen the American middle class.
The Commerce Minister said an investment-friendly environment is prevailing in the country now while the government is building special economic zones in key points of the country to attack foreign investment.
“Bangladesh is now a very suitable place for investment. Investors will be benefited if they invest in Bangladesh,” he said.
Tofail Ahmed also invited Indian investors to come and invest in Bangladesh’s economic zones.
On Saarc, he said the regional economic activities will have to be expedited further through making Saarc more effective.
The Commerce Minister said trade and investment in the region will see a big boost once Bangladesh, China, India and Myanmar (BCIM) Economic Corridor initiative is implemented fully.
The Confederation of Indian Industry (CII) in partnership with the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry and the State Government of Andhra Pradesh presents the 22nd edition of the Partnership Summit from January 10-12 in Andhra Pradesh.
South Asian countries need to make sure together whether the trade deals – TPP and TTIP – initiated by the developed countries stands in the way of development of the countries, said Commerce Minister Tofail Ahmed.
“All countries in the South Asia will have to work together to overcome all the barriers to regional development,” he said.
The Commerce Minister, now in India, made the remarks while addressing the Partnership Summit at APIIC Ground, Harbour Park, Visakhapatnam, Andhra Pradesh, according to Commerce Ministry here.
Tofail laid emphasis on expanding regional trade and mentioned that many developed countries are signing trade deals like Transpacific Partnership (TTP) and the Transatlantic Trade and Investment Partnership (TTIP).
“Time has come to check whether these deals are against the decision taken in favour of the least developed countries (LDCs) in the WTO (World Trade Organization),” he said.
TTIP is a proposed free trade agreement between the European Union and the United States, aiming to promote multilateral economic growth while TPP is US-led 12-country trade pact that will help increase Made-in-America exports, grow the American economy, support well-paying American jobs, and strengthen the American middle class.
The Commerce Minister said an investment-friendly environment is prevailing in the country now while the government is building special economic zones in key points of the country to attack foreign investment.
“Bangladesh is now a very suitable place for investment. Investors will be benefited if they invest in Bangladesh,” he said.
Tofail Ahmed also invited Indian investors to come and invest in Bangladesh’s economic zones.
On Saarc, he said the regional economic activities will have to be expedited further through making Saarc more effective.
The Commerce Minister said trade and investment in the region will see a big boost once Bangladesh, China, India and Myanmar (BCIM) Economic Corridor initiative is implemented fully.
The Confederation of Indian Industry (CII) in partnership with the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry and the State Government of Andhra Pradesh presents the 22nd edition of the Partnership Summit from January 10-12 in Andhra Pradesh.