Bangladesh focuses on PTAs, FTAs with potential partners: minister

DHAKA, Jan. 10 (Xinhua) -- Bangladeshi Commerce Minister Tipu Munshi has said that considering the graduation from the least developed country (LDC) status, the government is focusing on signing Preferential Trade Agreements (PTAs) and Free Trade Agreements (FTAs) with potential partners.

"But, to avail international support measures even after LDC graduation, we need to enhance our negotiation skills," Munshi was quoted as saying by Bangladesh's official news agency BSS.

Speaking at a program here Monday, Tipu said the government is not doing any business, rather it has been working relentlessly to sustain a business-friendly environment, ensuring required policy reforms and infrastructural development in the country.

Noting that the blue economy is a vast area, he said, "We've a great opportunity to avail the blessings of this sector. I'll urge the business community to explore the best out of it."

Bangladesh will formally graduate from the LDCs in 2026.

The United Nations General Assembly (UNGA) in November 2022 adopted a resolution on allowing Bangladesh to move into the developing country grouping from the LDC category.