WTO Reaffirms Support to Boost BD’s Trade Competitiveness

 
During an online interview, WTO Deputy Director-General Xiangchen Zhang detailed the organization’s specific support mechanisms tailored for Bangladesh, one of the first Least Developed Countries (LDCs) to ratify the TFA in 2016.
 
“Bangladesh demonstrated this commitment through its decision to ratify the agreement, highlighting its focus on improving trade processes,” he added.
 
By cutting trade costs, he said, the WTO’s agreement on trade facilitation helps Bangladesh's exporters access new markets.
 
To ensure effective implementation, he mentioned that WTO members established the Trade Facilitation Agreement Facility (TFAF).
 
Xiangchen Zhang stated that the TFAF plays a vital role in supporting developing economies, including LDCs like Bangladesh, by helping them better access development partner support and assisting development partners in targeting their aid for ongoing TFA implementation needs.
 
“Specific support has already been provided, with the Global Alliance on Trade Facilitation and the World Bank Group offering assistance to Bangladesh for implementing the TFA,” he added.
 
 Furthermore, he said, developing and LDC members can apply for grants ranging from US$ 30,000 to $ 200,000 under the TFAF grant programme for capacity building measures, particularly when assistance from other development partners is unavailable.
 
Regarding the enhancing SPS capacity and market access, Xiangchen Zhang said, WTO offers many options to help developing members, including LDCs, strengthen their capacity in implementing the SPS agreement.
 
“They range from using e-Ping system to keep abreast of the changes in SPS requirements to Transparency Champion Trainings to demand-driven in country trainings to help address implementation challenges,” he added.
 
Last year, he said, WTO Members adopted a declaration on special and differential treatment provisions in SPS and Technical Barriers to Trade (TBT) agreements.
 
 “It ensures that developing countries, including LDCs, get timely help when standards or technical regulations are being put in place by Members so that they have an opportunity to shape them,” he added.
 
In addition, he said, the Standards and Trade Development Facility (STDF) helps address particular SPS needs of developing countries, including LDCs.
 
For example, he mentioned that Bangladesh has been working with the STDF to build trade capacity of small-scale shrimp farmers, to promote biopesticides, to boost see trade and to improve the implementation of SPS best practices for export-oriented vegetables. 
 
Bangladesh's participation in the WTO-TFA and SPS  agreements involves implementing trade procedures to simplify trade, enhance transparency, and improve border compliance, while also managing regulations to protect human, animal, and plant life and health.
 
The country is working to implement TFA to boost its export competitiveness and has established an SPS Information Management System to provide a one-stop source for SPS-related information for both exporters and importers, reports BSS.