Expectations from LDCs WTO 10 th Ministerial Conference in Nairobi

WTO: To serve purposes of whom?  Aim is to ensure smooth, predictable and free trade flows  Covering 98% of global commerce  Cut down average applied tariffs by half  Boosted global trade by 250%  80% cent of global trade is linked to the international production networks of TNCs  Super profits of TNCs extracted in the form of royalties and fees increased 656%

WTO: Biased Clearly!  Rich countries impose high import duties and quotas, block imports from developing countries  Non-tariff barriers, anti dumping measures still allowed against developing countries  Developed countries has high protection of agriculture, developing countries are being insisted to open their markets;  TRIPS agreement of WTO limits developing countries from utilizing some technologies Dominates the LDCs economy

WTO: Biased Clearly!  USA provides an average monthly farm subsidy of about BDT 3 lakh  It pays around $ 400 million per day as agriculture subsidy  In Europe, farmers receive around $ 6 for each cow every day  One Farming Family in Bangladesh get about BDT 6900 annually. Bangladesh is being continuously insisted to reduce subsidy !

How Bangladesh affects?  Bangladesh reduced tariff rate by 15%, losing revenue  USA denied DFQE violating WTO rules and stop our GSP facility  No Trade Facilitation  Bangladesh paying Tax almost double instead of receiving so called ODA from USA

Bangladesh Economy: Present & future context  Poverty is the biggest challenges  Lower threshold in other Human Development Index  GDP US$ 1300/capita  Trade diversification not made yet

The latest Report reflects our (LDCs) scenario as impact  Poverty not eliminated (900 million are poor in LDCs)  Current Account deficit reached US$40 billion  Share of LDC in global exports only 0.72%  Investment inflows to the LDCs represented only 1.9% of global inflows  The share of manufacturing value added is declined from 2% in 1992 to 1% in

LDC Expectations:  DFQF market access: market access for 100 per cent of products originating from LDCs.  Flexible Rules of origin  Cotton, agriculture  NAMA LDCs shall also be accorded safeguard policy space for industrial development  Special and Differential Treatment

LDC Expectations  Full package of G90 proposals for all developing countries should be agreed  Public stockholding programs should be there  Countries should be allowed to undertake domestic supports of agricultural production, but no country should be allowed to export subsidized food  Special Safeguard Mechanism (SSM) must be agreed  “New Issues” Must be Off the Table at Nairobi

WTO must consider LDC Policy Flexibility option  Allowing Flexibility to LDCs in undertaking commitments and obligations to adopt policy to meet the LDCs development needs.  Offsetting the negative effect for LDCs due to liberalization measures to be undertaken by the WTO members.

Thank You All