Bangladesh has formally initiated negotiations with ASEAN to sign a free trade agreement (FTA) to enjoy greater market access in the bloc after graduating from the least developed country (LDC) grouping.
Commerce secretary Mohammad Jafar Uddin told The Daily Star: “I signed the negotiation letter today [on December 13] and sent it to the foreign ministry to open formal negotiations with the ASEAN headquarters, so that we can sign an FTA with this major trade bloc.”
Bangladesh has launched the negotiations mainly for three reasons.
First is because the ASEAN is a big market where Bangladesh can do well while the second is to safeguard the duty privilege after graduation.
Graduation from LDC: UN projections show high hope thedailystar.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedailystar.net Daily Mail and Mail on Sunday newspapers.
Negotiations for FTA with Asean underway thedailystar.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedailystar.net Daily Mail and Mail on Sunday newspapers.