The much-awaited LDC transition is around the corner, which will result in the erosion of preferential trade benefits for Bangladesh.
Bangladesh would have to sign trade agreements for preferential market access.
Keeping in consideration the same, the Bangladesh Trade and Tariff Commission (BTTC) is conducting further studies on possible outcomes of the country joining the world’s largest China-led trade deal – the Regional Comprehensive Economic Partnership (RCEP).
According to media reports, this was claimed by Senior Commerce Secretary Tapan Kanti Ghosh recently.
Even though the BTTC in a study earlier this year, reportedly, underlined Bangladesh would greatly benefit in international trade if the country joins this mega-regional trade deal, the Senior Commerce Secretary on his part maintained, “We need to, however, conduct more studies before joining the RCEP as some terms and conditions seem tough for us to abide by.”