Strengthening trade negotiations through institutional implementation

In a significant move, Bangladesh has taken strides to enhance its trade negotiation capacity ahead of its 2026 graduation from the status of a Least Developed Country (LDC). This initiative was the focus of a recent national dialogue, organised by the Ministry of Commerce with support from the United Nations Development Programme (UNDP) under the Transformative Economic Policy Programme (TEPP), and financed by the UK Government's Foreign, Commonwealth and Development Office (FCDO).

The dialogue, aptly named "Reflections & Way Forward: Building National Capabilities in Trade Negotiations," brought together key stakeholders to discuss the urgent need for institutional change, specialist expertise, authority, and continuity in trade negotiations. The event was chaired by Mahbubur Rahman, Secretary of the Ministry of Commerce.

The dialogue highlighted the importance of a skilled and strategic team of trade negotiators, a cadre drawn from ministries, agencies, and academia. UNDP Bangladesh Resident Representative, Stefan Liller, emphasised that LDC graduation necessitates an economic reset, requiring new trade and investment strategies, favourable agreements, and defense of interests in global forums.

The UK remains committed to supporting Bangladesh's journey towards a modern, inclusive economy. The British High Commissioner, H.E. Sarah Cooke, reaffirmed the UK's ongoing support for building a new generation of trade negotiators in Bangladesh.

Central to this effort is the Trade Negotiation School, a vital tool for equipping Bangladesh's negotiators for the complex global trade landscape. The International Trade Centre (ITC) supports the Ministry of Commerce of Bangladesh in building a specialized cadre for trade negotiations, and the government of Japan finances the program to strengthen Bangladesh's national trade negotiation capacity.

During the event, Sk Bashir Uddin, Hon'ble Adviser to the Ministry of Commerce, addressed the dialogue as the chief guest, saying that the Trade Negotiation School will be vital in equipping Bangladesh's negotiators to secure the nation's interests in a complex global trade landscape. Lutfey Siddiqi, Chief Adviser's Envoy for International Affairs, stressed that trade negotiations require institutional change, specialist expertise, authority, and continuity.

The dialogue marked a milestone by recognising members of the newly formed pool of trade negotiators with certificates. This pool, supported by UNDP through TEPP, aims to advance Bangladesh's trade interests in bilateral, regional, and multilateral forums. UNDP also provides specialized training and establishes institutional mechanisms to ensure long-term sustainability.

In conclusion, the dialogue signified a significant step towards strengthening Bangladesh's trade negotiation capacity. With the support of international partners like the UK, Japan, and the ITC, and the dedication of local stakeholders, Bangladesh is well on its way to navigating the complexities of the global trade landscape and securing its economic future.