Apr 16, 2014, 5:19 pm (BST)
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Muhith seeks WTO's help on trade financing
 
DHAKA, April 1 (BSS) - Finance Minister AMA Muhith today requested the World Trade Organisation (WTO) to help Bangladesh financing its imports as the country is facing pressure due to high interest rate of such assistance.

The finance minister made the request when visiting
Director-General of the WTO Pascal Lamy met him at his
secretariat office here.

"I know WTO does not has any fund to provide such assistance
but it can pursue the global lending agencies such as the World
Bank (WB) and the International Monetary Fund (IMF) for providing
such financial support," Muhith said while talking to reporters
after the meeting.

Bangladesh, he said, gets help on trade financing from the
Islamic Development Bank (IDB) that provides such assistance for
a period of nine months with a high interest rate of 5.3 percent.

"The WTO DG has assured me of looking into the matter," the
finance minister said, adding that Pascal Lamy has also suggested
Bangladesh to continue pursuing the matter.

About his discussion on different sectors, Muhith said the
country's education, health and banking sectors are poor in terms
of world standards but Bangladesh needs time to improve the
conditions of these sectors.

About transit, he said, infrastructures, including port
facilities, must be developed for promotion of trade worldwide.

The WTO DG said he had a very good discussion with the
finance minister on the state of Bangladesh economy.

About the waiver of service sector, Pascal Lamy said there
is good news for Bangladesh as the legal framework is now in
place at the WTO, where LDCs will have to negotiate with the
developed and emerging nations on the sectors on which they want
more market opening.
 
 
 
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