The emerging global trading environment: Implications for Bangladesh

Deskripsi

Successive rounds of MTNs under the auspices of the GATT—now replaced by WTO—have resulted in a rules-based international trading system for increased liberalization of the world economy. The scope of the various agreements has been quite comprehensive, covering both traditional as well as a number of new issues which include trade in services, intellectual property rights, and trade-related investment measures. Yet, the emerging multilateral trading arrangement remains embroiled in controversies relating to child labor, human rights, working conditions, environment, corruption, and multilateral agreement on investment. The paper assesses the impact of this gradually unfolding scenario on the exports and growth potentials of Bangladesh. The results, although found to be positive on balance, are expected to be rather mixed for different sectors / subsectors of the economy. In the end, of course, much will depend on the speed and efficacy with which the country can adopt efficiency-enhancing measures in production lines, and reform and improve its administrative and legal systems.