Dhaka should study WTO competition policy

Bangladesh is to study and understand the competition policy of the WTO to reap the highest benefit from it.
“We have to study and understand the competition policy, enact our own law in this regard and take the opinion from the experts as soon as possible to get the highest benefit from this,” said former ambassador of Bangladesh in Geneva Toufiq Ali at a seminar yesterday.
Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) organised the seminar titled 'Competition Policy and WTO: Bangladesh Perspective' in the city.
FBCCI Administrator Syed Manzur Elahi presided over the seminar, while director general of the WTO Cell of Commerce Ministry AKM Fazlur Rahman presented the keynote paper.
Toufiq Ali emphasised the product development and increase of manufacturing skills.
The former envoy stressed the need for product diversification to secure new markets across the world.
Syed Manzur Elahi said that competition policy is a less discussed matter but it is a vital issue as it aims to promote efficiency and protect the interest of the consumer.
“Competition policy of any individual economy should strike a delicate balance between the import volume of foreign products and the degree of protection of home industry and employment, centering round the core policy of consumer interest,” he said.