Improve negotiation skills for success after LDC graduation, experts say at DCCI webinar

Better negotiation skills, export diversification, improved competitiveness and institutional capacity building are the key to find success for Bangladesh after its graduation from least developed country (LDC) category, speakers said at a webinar today.

Dhaka Chamber of Commerce and Industry (DCCI) arranged the webinar on "LDC Graduation of Bangladesh: Journey towards Economic Excellence".

DCCI President Rizwan Rahman said: "It is the right time to increase trade and investment as well as adopt long-term strategic planning and their effective implementation to strengthen Bangladesh's position in the international arena after the graduation from LDC.

Bangladesh's identity as a developing nation in the international arena will uphold the competitiveness of the country which will take us to a greater height and will contribute to enhancing export and FDI, he said.

He also urged for framing an outline to attract the FDI, increase investment-GDP ratio and tax-GDP ratio.

Moreover, emphasis should be given to regional connectivity including signing PTA, FTA, especially with those countries Bangladesh, which have a trade imbalance, Rizwan said.

Addressing as a chief guest, Ahmad Kaikaus, principal secretary to the prime minister, said: "LDC graduation is a milestone for Bangladesh. We have to mainly focus on how to become competitive."

"We have to look for exploring regional and Asian markets," he said.

Fatima Yasmin, ERD secretary; Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry; Nihad Kabir, president of Metropolitan Chamber of Commerce and Industry, Dhaka, and Taufiqur Rahman, board member of head of the LDC Unit, Development Division, WTO, Geneva, also spoke.