The Ministry of Commerce (MoC) has decided to make a fresh move to convince the relevant government agencies, businesses and experts about the benefits of signing free trade area (FTA) deals.
The MoC has decided to hold further consultations to allay fear in the minds of many about such deals and secure the green signal towards signing the same with prospective countries. Signing such deals is seen imperative in the context of the country's graduation from a least developed country (LDC) by 2024.
The National Board of Revenue fears substantial revenue loss while a section of businesses are apprehensive of losing market to cheap imports.
Bangladesh had changed its stance in 2018 in favour of opening its market by signing...