Agribusiness in LDCs hinges on negotiating capacity at WTO

Sustainable growth in agribusiness sector in the least developed countries (LDCs) would depend on how well the nations could cope with the liberalised trade regime, Agriculture Minister MK Anwar said yesterday.

"The recently concluded ministerial conference of the World Trade Organisation (WTO) at Cancun has raised questions regarding the future of global trade through globalisation on the part of the LDCs, " he said.

The minister was speaking at the launching ceremony of agro-based MBA programme of the American International University of Bangladesh (AIUB).

Anwar said agribusiness could play a vital role in the socio-economic development of Bangladesh if proper management skills could be developed in this sector.

Referring to marketing problems of agro products he said competition is intense in the international market with various tariff and non-tariff barriers. "Management skill is necessary to cope with the competition," he added.

Addressing the function, Gene George, mission chief of the United States Agency for International Development (USAID) in Bangladesh, said academic expertise is needed to give the agribusiness in Bangladesh a new shape and dimension.

"As an agriculture-based country, Bangladesh have a great opportunity to expand the market of agro based products," said the USAID official.