Dhaka, Bangladesh (BBN)-Bangladesh Garment Manufacturers and Exporters Association (BGMEA) will raise its concern over regional trade agreements at the World Trade Organisation Monday and will seek its initiative to put forward the agenda of duty-free market access to the developed country.
Ahead of the “WTO Dialogue with Business” in Geneva today, BGMEA said regional trade agreements like the 12-nation Trans Pacific Partnership (TPP) signed bypassing WTO laws is an impediment to multilateral rule-based trading system. The TPP trade bloc represents nearly 40 per cent of the world’s GDP, reports the fibre2fashion.
“WTO Dialogue with Business” is aimed at discussing the opportunities and challenges facing business people to conduct trade operations and how WTO can help deal with them.
A three-member BGMEA delegation led by its President Siddiqur Rahman is attending the business dialogue.
The Bangladeshi RMG sector is apprehensive that a trade bloc like the TPP will limit the space for the Least Developed Countries (LDCs) and create an unfair competition.
The Bangladeshi RMG sector have urged the WTO to take the lead to ensure enough policy protection for the LDCs from regional trade associations like the TPP by engaging developed members in discussions with a spirit to ensure level playing field.