Dhaka, Sep 12 (V7N): World Trade Organisation (WTO) Director-General Ngozi Okonjo-Iweala praised Bangladesh for decentralising various supply chains, facilitated by the establishment of tech parks.

At a recent press briefing at WTO headquarters, she noted that Bangladesh's efforts to diversify global supply chains and leverage digitalization have created new opportunities for services-led growth. She also highlighted how de-carbonizing the global economy is opening up competitive advantages for regions with renewable energy resources and critical mineral deposits, many of which are found in developing nations.

Okonjo-Iweala emphasized that enhancing local workforce skills, infrastructure, and business environments is essential for attracting Foreign Direct Investment (FDI) and ensuring its maximum impact on the local economy.

She stated, “More inclusive trade policies are crucial for integrating marginalized regions into the global economy. However, trade policy alone cannot achieve this; complementary domestic reforms are also needed for broader economic progress.”

In response to a query, the WTO DG confirmed that Bangladesh and Nepal will continue to enjoy the same benefits even after graduating from the Least Developed Country (LDC) category in 2026.

During the 13th WTO Ministerial Conference held in Abu Dhabi from February 26 to March 1, the ministers agreed to extend trade benefits for countries that graduate from LDC status.

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