In a step towards global trade compliance, the National Board of Revenue (NBR) has undertaken a comprehensive review of Bangladesh's tariff regime, identifying 60 tariff lines where current customs duties and associated charges surpass the bound rates established in the World Trade Organization (WTO) agreements. As part of its initial measures, customs duties on 6 items have been reduced, signaling Bangladesh's commitment to aligning its trade practices with international standards. The initiative, detailed in an official document, sets forth a plan to gradually adjust these rates to fall within the WTO-agreed bound tariffs by 2026. Bound tariffs represent the maximum most-favored nation (MFN) tariff rate a country commits to at the WTO, serving as a ceiling that applied tariffs cannot exceed. This regulatory framework ensures that trade policies remain predictable and stable, providing security for traders and investors. NBR’s three-pronged strategy to boost revenue collection Countries typically negotiate bound tariffs during their accession to the WTO or through subsequent trade negotiations, setting these rates higher than their applied tariffs to retain policy flexibility. However, exceeding these bound rates without proper adjustments can lead to international disputes and demands for compensation, emphasizing the importance of adherence. The recalibration effort by Bangladesh reflects a broader trend among WTO members, where developed, developing, and transitioning economies have significantly increased the proportion of imports with bound tariff rates, enhancing global market stability. Additionally, the government has resolved to eliminate the minimum import price requirement, already removing it from 55 items with a strategic plan to phase it out entirely from the remaining 130 products by 2026. This move aims to simplify the import process and foster a more competitive market environment. The document outlines a cautious approach to tariff reduction, ensuring that local industries are not adversely affected and that revenue mobilization remains robust. The NBR's strategy involves a careful balancing act, prioritizing the protection of domestic sectors while advancing the country's export competitiveness. NBR collects nearly Tk 2 lakh crore in 7 months, growth over 15% This progressive adjustment of customs duties and the abolition of the minimum import price underscore Bangladesh's efforts to integrate more seamlessly into the global trading system, promoting economic growth and development in alignment with WTO commitments.

Commerce Minister Tipu Munshi has urged the WTO to impose an embargo so the exporting countries can’t abruptly stop export of food grains without prior notice to the importers. The minister placed Bangladesh’s position on the first day of the ministerial-level conference of the World Trade Organization (WTO), highest policy-making forum in global trade, held at WTO headquarters in Geneva, Switzerland. Tipu said, “The current situation shows a global food shortage, the food issue has become very important for human survival. It would not be right to suddenly impose an export ban on essential food items.” Also read: Reliable accreditation infrastructure crucial for strengthening export The importing countries must be alerted so they can take preparation and alternative steps, he said. The commerce minister said that to minimize risk of food security, LDC countries need to have the opportunity to stockpile food on a large scale at the government level. Bangladesh will support WTO reforms especially in the agriculture sector. Reforms must be inclusive and transparent, where the concerns of each member must be taken into account, he said. Also read: Barind region's mangoes to be marketed globally for export Speaking at a press conference on the first day of the MC-12 summit, WTO Director General Engoji Okonzo Aiwala said the Russia-Ukraine war has made the food crisis a major challenge for the world. Following the passage of the LDCs, member states have been urged to come to a consensus on other important issues, including the continuation of trade benefits and sudden ban of food grain exports. Tipu is leading the Bangladesh delegation to the 164-nation WTO meeting. Read WTO holds big meeting to tackle vaccines, food shortages

The head of the World Trade Organization predicted a “bumpy and rocky" road as it opened its highest-level meeting in 4-1/2 years on Sunday, with issues like pandemic preparedness, food insecurity and overfishing of the world’s seas on the agenda. At a time when some question WTO's relevance, Director-General Ngozi Okonjo-Iweala hopes the meeting involving more than 120 ministers from the group's 164 member countries yields progress toward reducing inequality and ensuring fair and free trade. Okonjo-Iweala acknowledged the Geneva-based trade body needs reform but said she was cautiously optimistic that a deal might be reached on at least one of the meeting’s main ambitions like fisheries or COVID vaccines. Also read: FDA restricts J&J’s COVID-19 vaccine due to blood clot risk “The road will be bumpy and rocky. There may be a few landmines on the way,” Okonjo-Iweala said. “We’ll have to navigate those landmines and see how we can successfully land one or two deliverables.” In her opening address, she said a “trust deficit” had emerged over the years following the failure of negotiations known as the Doha Round more than a decade ago. “The negativism is compounded by the negative advocacy of some think tanks and civil society groups here in Geneva and elsewhere who believe the WTO is not working for people," she said. "This is, of course, not true, although we’ve not been able to clearly demonstrate it.” She cited an array of crises facing the world such as the COVID-19 pandemic; environmental crises like droughts, floods and heat waves; and inflationary pressures that have been compounded by food shortages and higher fuel costs linked to Russia's war in Ukraine. She noted higher prices are“hitting poor people the hardest.” “With history looming over us, with that multilateral system seemingly fragile, this is the time to invest in it, not to retreat from it,” Okonjo-Iweala said. “This is the time to summon the much-needed political will to show that the WTO can be part of the solution to the multiple crises, the global commons that we face.” The WTO chief insisted that trade has lifted 1 billion people out of poverty, but poorer countries – and poor people in richer ones – are often left behind. Blockaded ports in Ukraine have impeded exports of up to 25 million tons of grain from the key European breadbasket. Ministers at the meeting will consider whether to lift or ease export restrictions on food to help countries facing a shortage of wheat, fertilizer and other products because of the war in Ukraine. They also will decide whether to increase support for the U.N.’s World Food Program to help needy countries around the world. “I strongly urge the WTO members with the capabilities to commit at MC12 to exempt their donations to the World Food Program from any export restrictions,” said Katherine Tai, the U.S. trade representative, referring to the 12th ministerial conference at the WTO. Okonjo-Iweala hopes the member nations, which make decisions by consensus, also can strike an agreement about whether to temporarily waive WTO’s protections of intellectual property on COVID-19 vaccines. Also read: Yunus for creating social business pharm companies to bring vaccines, medicines to common people The topic has generated months of contentious negotiations. The pharmaceutical industry wants to protect its innovations while advocacy groups say the pandemic's devastation merits an exemption to the usual rules and developing countries say they need better access to vaccines. Some experts and diplomats say two decades of WTO efforts to limit overfishing in the world's seas appears to be as close as it ever has to reaching a deal. The draft text on fisheries aims to limit government subsidies — such as for fuel — to fishing boats or workers who take part in “illegal, unreported and unreported” fishing, or national subsidies that contribute to “overcapacity or overfishing.” Some workers in developing countries could qualify for exemptions. “This agreement is crucial to the 260 million people around the world whose livelihoods depend directly or indirectly on marine fisheries,” Okonjo-Iweala said. “It is also central to the sustainability of our oceans, where the latest studies show close to 50% of stocks for which we have data are overfished.” An umbrella group of nongovernmental groups, “Our World Is Not For Sale,” said over 50 NGOs were stripped of access that they had been previously granted to attend the opening day events. WTO spokesman Daniel Pruzin said that because of “space limitations” at WTO and events inside, “we were unfortunately unable to grant accredited NGOs access, both civil society groups as well as business groups.” He said they would be granted access for the rest of the ministerial starting Monday. The World Trade Organization, created in 1995 as a successor to the General Agreement on Tariffs and Trade, has seen a slow unraveling — often because U.S. objections have largely hamstrung its dispute-resolution system. The WTO hasn’t produced a major trade deal in years. The last one, reached nearly a decade ago, was an agreement that cut red tape on goods clearing borders and was billed as a boost to lower-income countries.

The World Trade Organization is facing one of its most dire moments, the culmination of years of slide toward oblivion and ineffectiveness. Now may be a chance to turn the tide and reemerge as a champion of free and fair trade — or face a future further in doubt. For the first time in 4 1/2 years, after a pandemic pause, government ministers from WTO countries will gather for four days starting Sunday to tackle issues like overfishing of the seas, COVID-19 vaccines for the developing world and food security at a time when Russia’s war in Ukraine has blocked the export of millions of tons of Ukrainian grain to developing nations. Facing a key test of her diplomatic skill since taking the job 15 months ago, WTO Director-General Ngozi Okonjo-Iweala in recent days expressed “cautious optimism” that progress could be made on at least one of four issues expected to dominate the meeting: fisheries subsidies, agriculture, the pandemic response and reform of the organization, spokesman Fernando Puchol said. Diplomats and trade teams have been working “flat out — long, long hours” to serve up at least one “clean text” for a possible agreement — that ministers can simply rubber-stamp and not have to negotiate — on one of those issues, Puchol told reporters Friday. Also Read: Global trade in medical goods up 16.3% in 2020: WTO The Geneva-based body, barely a quarter-century old, brings together 164 countries to help ensure smooth and fair international trade and settle trade disputes. Some outside experts expect few accomplishments out of the meeting, saying the main one may simply be getting the ministers to the table. “The multilateral trading system is in a bad way. The Ukraine situation is not helping,” said Clemens Boonekamp, an independent trade policy analyst and former head of WTO’s agricultural division. “But the mere fact that they are coming together is a sign of a respect for the system.” Alan Wolff, a former WTO deputy director-general, sounded optimistic that members could make at least some headway. They might reach an agreement, he said, to help relieve a looming global food crisis arising from the war in Ukraine by ensuring the U.N. World Food Program receives a waiver from food export bans imposed by WTO countries eager to feed their own people. Wolff, now senior fellow at the Peterson Institute for International Economics in Washington, expressed confidence in Okonjo-Iweala, saying, “I’m not willing to sell her short.” He said members “seem to be making progress” on an agreement to scale back subsidies that encourage overfishing — something they have been trying to do for more than two decades. “Do they wrap it up this time?” Wolff asked. “Unclear. It’s been a drama.’’ One problem — among many — is that the WTO operates by consensus, so any one of its 164 member countries could gum up the works. In short, the WTO has become an important diplomatic battleground between developed and developing countries, and some experts say reform is needed if it’s ever to get things done. The trade body, created in 1995 as a successor to the General Agreement on Tariffs and Trade, has seen a slow unraveling. It hasn’t produced a major trade deal in years. The last big success was a 2014 agreement billed as a boost to lower-income countries that cut up red tape on goods clearing borders. Years ago, the United States started clamping down on the WTO’s appeals court, which in theory delivers the last word on trade disputes, such as a high-profile one between the U.S. and EU involving plane-making giants Airbus and Boeing. Then, U.S. President Donald Trump came along, threatening to pull America out of the WTO over his insistence that it was unfair to the U.S. In the end, he didn’t, and simply bypassed the WTO — slapping sanctions on allies and foes alike and ignoring the trade organization’s rulebook and dispute-resolution system. Once a champion of the WTO, the United States has rued the admission of China and insists Beijing has been violating the trade body’s rules too much. The U.S. accuses China of excessively supporting state-run companies and impeding free trade, among other things. China denies those allegations. A generation ago, the WTO drew huge, vituperative, even violent protests — notably from anti-globalists and anarchists who detested its closed-door secrecy and elites-decide-all image. William Reinsch, a former U.S. trade official, warned that the WTO is now in danger of becoming irrelevant. The best way to show that it still matters, he wrote this month, is to negotiate an agreement, perhaps on fisheries, COVID-19 vaccines or a more difficult issue: encouraging more free trade in farming. Reinsch, now at the Center for Strategic and International Studies in Washington, said the United States needs to be doing more — including making compromises — to ensure the WTO can reach agreement on contentious issues. “The future of the WTO is at risk,” he said. “Failure would be bad for the fish and the farmers, but it would also be bad for a rule-of-law-based global economy.” END/AP/UNB

The World Trade Organization (WTO) should continue drugs patent waiver for Bangladesh as the country graduates from the club of least developed countries (LDC) in 2024. As an LDC, Bangladesh is enjoying exemption from the patent rights and conditions set by the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Read: WTO to start Covid-19 vaccine supply negotiations amid clash on patents After 2024, the country will need to comply with TRIPS. However, the extension of the TRIPS waiver for Bangladesh will directly benefit developed countries along with other LDCs and developing countries as they will be able to import low-cost medicines from here.  Experts said this at the "Emerging Issues in Access to Treatment for Covid-19 in Bangladesh" jointly organised by Equity BD, People's Health Movement Bangladesh and the Third World Network.   Read: More support easing vaccine patent rules, but hurdles remain KM Gopakumar, senior researcher and legal advisor at the Third World Network, said: "People in developing countries and LDCs need access to vaccines and other health products to survive the pandemic, which requires widespread availability of these health products." "TRIPS waiver offers the policy space to do away with the IP monopoly and facilitate the scaling up or production through diversification of the manufacturing base. Also, there is an urgent need to negotiate a smooth transition period for graduating LDCs to address concerns on matters affecting peoples' health," he added.

World Trade Organization members agreed on Wednesday to start formal negotiations on a plan to boost COVID-19 vaccine supply to developing countries, but face rival proposals – one with and one without a waiver of intellectual property rights reported The Indian Express. South Africa and India, backed by many emerging nations, have been pushing for eight months for a temporary waiver of IP rights on vaccines and other treatments. This could allow local manufacturers to produce the shots, something the proponents say is essential to redress “staggering” inequity of supply. Also read: WTO panel considers easing protections on COVID-19 vaccines Developed nations, many home to large pharmaceutical companies, have resisted, arguing that a waiver would not boost production and could undermine future research and development on vaccines and therapeutics.  The European Union presented a plan, backed by Britain, Switzerland and South Korea, that it argues would more effectively broaden supply. Existing WTO rules, it says, already allow countries to grant licences to manufacturers even without the patent-holder’s consent. WTO members agreed to begin discussions on June 17 to determine the format of negotiations and to produce a report outlining their progress on the vaccine supply plan by July 21-22, when the WTO’s general council convenes, a Geneva trade official said. “This is a major breakthrough – after eight months of stalling,” said Leena Menghany, global IP adviser for medical aid group MSF, which backs a waiver. A surprise US shift last month to support a waiver heaped pressure on the opponents, but Washington trade officials appear to favour one limited to vaccines. Also read: Australia says WTO should punish Chinese economic coercion The waiver proposal from the emerging nations also includes diagnostics, therapeutics and medical devices. That proposal, whose text was revised in May, also sets a time span of “at least three years” and might allow a single WTO member to prolong it indefinitely. The United States told delegates it was still reviewing the revised proposal, but its initial reaction was that it was only a modest change from the original, on which WTO members had not reached the required consensus.   It said discussions needed a “revised scope” and WTO members should focus on what actions might be needed to address vaccine supply and distribution specifically and on areas most likely to be accepted by others as soon as possible.

Envoys from World Trade Organization member nations are taking up a proposal to ease patents and other intellectual property protections for COVID-19 vaccines to help developing countries fight the pandemic, an idea backed by the Biden administration but opposed in other wealthy countries with strong pharmaceutical industries. On the table for a two-day meeting of a WTO panel opening Tuesday is a revised proposal presented by India and South Africa for a temporary IP waiver on coronavirus vaccines. The idea has drawn support from more than 60 countries, which now include the United States and China. Some European Union member states oppose the idea, and the EU on Friday offered an alternative proposal that relies on existing World Trade Organization rules. The 27-nation bloc said those rules currently allow governments to grant production licenses — such as for COVID-19 vaccines or therapies — to manufacturers in their countries without the consent of the patent holders in times of emergency. At stake in the meeting is whether the various sides can move toward drawing up a unified text, a key procedural step that could unlock accelerated negotiations. Inside observers cautioned, however, that a major breakthrough was not expected. Also read: The Latest: WTO: Develop vaccines in Africa, Latin America Even optimistic supporters acknowledge an IP waiver could take months to finalize because of solid resistance from some countries and WTO rules that require consensus on such decisions -- meaning a single country among the 164 members could scuttle any proposal. Even if adopted, ratification would also take time. Advocacy groups, emboldened by the support the United States announced last month, have increasingly pushed the plan and insisted it would not be as difficult to carry out as detractors would say. Doctors Without Borders, a Nobel Peace Prize-winning humanitarian agency, faulted the European Union, Switzerland, Norway and other holdouts on the IP waiver idea Monday for employing alleged “delaying tactics.” Pharmaceutical companies insist that an IP waiver could dampen the incentive for researchers and entrepreneurs to innovate and say vaccine-sharing by rich countries would be a much faster way to get shots to health workers and at-risk populations in the developing world. Also read: World trade primed for strong but uneven recovery after Covid-19 shock: WTO The World Health Organization has repeatedly inveighed against unequal access to vaccines, noting that rich countries scooped up supplies well in excess of the need of their own populations while developing countries have obtained only a small fraction of the doses so far distributed and injected worldwide.

Several world leaders Thursday praised the U.S. call to remove patent protections on COVID-19 vaccines to help poor countries obtain shots. But the proposal faces a multitude of hurdles, including resistance from the pharmaceutical industry. Nor is it clear what effect such a step might have on the campaign to vanquish the outbreak. Activists and humanitarian institutions cheered after the U.S. reversed course Wednesday and called for a waiver of intellectual property protections on the vaccine. The decision ultimately is up to the 164-member World Trade Organization, and if just one country votes against a waiver, the proposal will fail. The Biden administration announcement made the U.S. the first country in the developed world with big vaccine manufacturing to publicly support the waiver idea floated by India and South Africa in October. On Thursday, French President Emmanuel Macron embraced it as well. “I completely favor this opening up of the intellectual property,” Macron said at a vaccine center. However, like many pharmaceutical companies, Macron insisted that a waiver would not solve the problem of access to vaccines. He said manufacturers in places like Africa are not now equipped to make COVID-19 vaccines, so donations of shots from wealthier countries should be given priority instead. Pfizer, Moderna, Johnson & Johnson and AstraZeneca — all companies with licensed COVID-19 vaccines — had no immediate comment, though Moderna has long said it will not pursue rivals for patent infringement during the pandemic. Also read: US tribe shares vaccine with relatives, neighbors in Canada U.S. Secretary of State Antony Blinken underscored the urgency of moving fast now. “On the current trajectory, if we don’t do more, if the entire world doesn’t do more, the world won’t be vaccinated until 2024,” he said in an interview with NBC while visiting Ukraine. India, as expected, welcomed the move. Australian Prime Minister Scott Morrison called the U.S. position “great news.” Italian Foreign Minister Luigi Di Maio wrote on Facebook that the U.S. announcement was “a very important signal” and that the world needs “free access” to vaccine patents. But Italian Premier Mario Draghi was more circumspect. Russian President Vladimir Putin said his country would support it. U.N. Secretary-General Antonio Guterres welcomed the U.S. decision too. But German Chancellor Angela Merkel’s office spoke out against it, saying: “The protection of intellectual property is a source of innovation and must remain so in the future.” Also read: US support behind vaccine patent waiver ‘monumental moment’ in Covid fight: WHO A Merkel spokeswoman, speaking on customary condition of anonymity, said Germany is focused instead on how to increase vaccine manufacturers’ production capacity. In Brazil, one of the deadliest COVID-19 hot spots in the world, Health Minister Marcelo Queiroga said he fears that the country does not have the means to produce vaccines and that the lifting of patent protections could interfere with Brazil’s efforts to buy doses from pharmaceutical companies. In closed-door talks at the WTO in recent months, Australia, Britain, Canada, the European Union, Japan, Norway, Singapore and the United States opposed the waiver idea, according to a Geneva-based trade official who was not authorized the discuss the matter and spoke on condition of anonymity. Some 80 countries, mostly developing ones, have supported the proposal, the official said. China and Russia — two other major COVID-19 vaccine makers — didn’t express a position but were open to further discussion, the official said. EU Commission President Ursula von der Leyen said the 27-nation bloc is ready to talk about the idea, but she remained noncommittal and emphasized that the EU has been exporting vaccines widely — while the U.S. has not. EU leaders said the bloc may discuss the matter at a summit that starts Friday. Also read: US backs waiving intellectual property rules on vaccines The pharmaceutical industry has argued that a waiver will do more harm than good in the long run. Easing patent protections would eat into their profits, potentially reducing the incentives that push companies to innovate and make the kind of tremendous leaps they did with the COVID-19 vaccines, which have been churned out at a blistering, unprecedented pace. The industry has contended, too, that production of the vaccines is complicated and can’t be ramped up simply by easing patent rights. Instead, it has said that reducing snarls in supply chains and shortages of ingredients is a more pressing issue. The industry has insisted that a faster solution would be for rich countries to share their vaccine stockpiles with poorer ones. “A waiver is the simple but the wrong answer to what is a complex problem,” said the International Federation of Pharmaceutical Manufacturers and Associations. “Waiving patents of COVID-19 vaccines will not increase production nor provide practical solutions needed to battle this global health crisis.” Intellectual property law expert Shyam Balganesh, a professor at Columbia University, said a waiver would only go so far because of bottlenecks in the manufacturing and distribution of vaccines. Also read: EU medicine regulator starts rolling review of Sinovac COVID-19 vaccine Backers of the waiver say that expanded production by the big pharmaceutical companies and donations from richer countries to poor ones won’t be enough, and that there are manufacturers standing by that could make the vaccines if given the blueprints. “A waiver of patents for #COVID19 vaccines & medicines could change the game for Africa, unlocking millions more vaccine doses & saving countless lives,” World Health Organization Africa chief Matshidiso Moeti tweeted. Just over 20 million vaccine doses have been administered across the African continent, which has 1.3 billion people. There is precedent: In 2003, WTO members agreed to waive patent rights and allow poorer countries to import generic treatments for the AIDS virus, malaria and tuberculosis. “We believe that when the history of this pandemic is written, history will remember the move by the U.S. government as doing the right thing at the right time,” Africa CDC Director John Nkengasong said.

The Biden administration is throwing its support behind efforts to waive intellectual property protections for COVID-19 vaccines in an effort to speed the end of the pandemic. United States Trade Representative Katherine Tai announced the government’s position in a Wednesday statement, amid World Trade Organization talks over easing global trade rules to enable more countries to produce more of the life-saving vaccines. “The Administration believes strongly in intellectual property protections, but in service of ending this pandemic, supports the waiver of those protections for COVID-19 vaccines,” Tai said in the statement. But she cautioned that it would take time to reach the required global “consensus” to waive the protections under WTO rules, and U.S. officials said it would not have an immediate effect on the global supply of COVID-19 shots. “This is a global health crisis, and the extraordinary circumstances of the COVID-19 pandemic call for extraordinary measures,” said Tai. “The Administration’s aim is to get as many safe and effective vaccines to as many people as fast as possible.” Also read: PVA bats for suspension of intellectual property rights on Covid jabs Tai’s announcement comes hours after WTO Director-General Ngozi Okonjo-Iweala spoke to a closed-door meeting of ambassadors from developing and developed countries that have been wrangling over the issue, but agree on the need for wider access to COVID-19 treatments, WTO spokesman Keith Rockwell said. The WTO’s General Council — made up of ambassadors — was taking up the pivotal issue of a temporary waiver for intellectual property protections on COVID-19 vaccines and other tools, which South Africa and India first proposed in October. The idea has gained support in the developing world and among some progressive lawmakers in the West. Rockwell said a WTO panel on intellectual property was set to take up the waiver proposal again at a “tentative” meeting later this month, before a formal meeting June 8-9. No consensus -- which is required under WTO rules -- was expected to emerge from the ambassadors’ two-day meeting Wednesday and Thursday. But Rockwell pointed to a change in tone after months of wrangling. Also read: Senators to Biden: Waive vaccine intellectual property rules “I would say that the discussion was far more constructive, pragmatic. It was less emotive and less finger pointing than it had been in the past,” Rockwell said, citing a surge in cases in places like India. “I think that this feeling of everyone-being-in-it-together was being expressed in a way that I had not heard to this point.” Authors of the proposal, which has faced resistance from many countries with influential pharmaceutical and biotech industries, have been revising it in hopes of making it more palatable. Okonjo-Iweala, in remarks posted on the WTO website, said it was “incumbent on us to move quickly to put the revised text on the table, but also to begin and undertake text-based negotiations.” “I am firmly convinced that once we can sit down with an actual text in front of us, we shall find a pragmatic way forward,” that is “acceptable to all sides,” she said. Co-sponsors of the idea were shuttling between different diplomatic missions to make their case, according to a Geneva trade official who was not authorized to speak publicly on the matter. A deadlock persists, and opposing sides remain far apart, the official said. Also read: Covid-19 vaccines: Ex-leaders, Nobel laureates urge Biden to waive intellectual property rules The argument, part of a long-running debate about intellectual property protections, centers on lifting patents, copyrights and protections for industrial design and confidential information to help expand the production and deployment of vaccines during supply shortages. The aim is to suspend the rules for several years, just long enough to beat down the pandemic. The issue has become more pressing with a surge in cases in India, the world’s second-most populous country and a key producer of vaccines — including one for COVID-19 that relies on technology from Oxford University and British-Swedish pharmaceutical maker AstraZeneca. Proponents, including WHO Director-General Tedros Adhanom Ghebreyesus, note that such waivers are part of the WTO toolbox and insist there’s no better time to use them than during the once-in-a-century pandemic that has taken 3.2 million lives, infected more than 437 million people and devastated economies. More than 100 countries have come out in support of the proposal, and a group of 110 members of Congress — all fellow Democrats of Biden — sent him a letter last month that called on him to support the waiver. Opponents say a waiver would be no panacea. They insist that production of coronavirus vaccines is complex and simply can’t be ramped up by easing intellectual property, and say lifting protections could hurt future innovation.

Distinguished Fellow at the Centre for Policy Dialogue (CPD) Dr Debapriya Bhattacharya has said Bangladesh and India need a “much more robust framework” for their future economic relationship and a change in the framework is important to make that happen. The macroeconomist and public policy analyst said the Comprehensive Economic Partnership Agreement (CEPA), now on the table, needs to be coherent, dynamic and inclusive to address the challenges ahead and help boost trade and investment between the two countries. “CEPA has to be coherent, dynamic and inclusive. CEPA is the name of the game,” said Debapriya highlighting Bangladesh-India relations on three fronts -- leftover, built-in and emerging issues. Also read: New conversation on int'l dev cooperation needed: Debapriya The former Ambassador and Permanent Representative of Bangladesh to the World Trade Organization (WTO) made the remarks while delivering his speech at a symposium titled ‘Bangladesh-India Relations: Prognosis for the Future’ held recently. Indian High Commissioner to Bangladesh Vikram Kumar Doraiswami delivered the keynote speech at the symposium. Renowned scholar-diplomat and adviser on foreign affairs to the last caretaker government Dr Iftekhar Ahmed Chowdhury chaired the event hosted by the Cosmos Foundation, philanthropic arm of the Cosmos Group. Chairman of the Cosmos Foundation Enayetullah Khan delivered the opening remarks at the event. An array of experts from Bangladesh and India -- former Ambassador Tariq A. Karim, Director, Institute of South Asian Studies, National University of Singapore Prof C. Raja Mohan, Dhaka University Prof Imtiaz Ahmed, former Indian High Commissioner to Bangladesh Pinak Ranjan Chakravarty, Bangladesh Institute of Peace and Security Studies (BIPSS) President Maj Gen (retd) A. N. M. Muniruzzaman, CPD Executive Director Dr Fahmida Khatun, Brig. Gen. (retd) Shahedul Anam Khan and former Indian Foreign Secretary Krishnan Srinivasan -- were brought together for the online symposium to assess the state of relations between the two countries and identify the challenges and opportunities that lie ahead in the effort to take it forward. The noted economist said the leftover issues are very well known to all -- water, border security issues and others which will have to deal with successfully.   He said the built-in issues are essentially the trade, investment, connectivity and all other issues. “We can’t escape from these issues.” Debapriya said the third set of issues is the emerging issues that include IT, financial inclusions and many other issues.   The renowned economist said they need a framework within which all these three types of issues can be addressed. “We need a framework which will also address the current emphasis of our cooperation on the economic front.” Also read: Dhaka, Delhi want enhanced connectivity for prosperity He said Bangladesh and India have achieved quite a lot in the recent past, especially over the last 10 years, with a move from trade focus to more on connectivity one. “What’s important to make the next step?” he said, highlighting the importance of investment focus -- the production value chain issue. Debapriya said Bangladesh cannot solve its leftover issues without improving the space for negotiation. Highlighting Bangladesh’s economic growth, Debapriya said Bangladesh deserves a “less than full reciprocity” in the relationship as it goes. He said dealing with the external issue, one of the understated dimensions of Indo-Bangla relationship, is how Bangladesh is cooperating with India or how India is cooperating with Bangladesh at the global stage. Debapriya said India has to be a part of the smooth transition of LDC graduation of Bangladesh, and said India has provided duty- and quota-free market access which helped Bangladesh’s exports to India cross US$ 1.2 billion-dollar mark. “I think India has to continue with the duty- and quota-free market access in line with other markets providers like the European, Canada and Australia,” the economist said. He added that this is a declaration that will continue to support Bangladesh with duty- and quota-free market access for the export of garments at least in three years, not nine years, in line with WTO proposals. It will be a great service and it will continue greatly to strengthen the relationship. CPD Executive Director Dr Fahmida Khatun said the relationship between Bangladesh and India is covering a wide range of aspects, including trade, investment, power and energy; communication, health, education and culture. She said the collaboration between the two countries perceives an important factor, not only for the two countries but also for enhancing South Asian cooperation. Fahmida said they need to understand the challenges and identify the opportunities through concrete actions by both the countries. The economist laid emphasis on the issue of harnessing advantage of closer bilateral cooperation and leveraging this cooperation to ensure strengthening regional and global integration of the economy. The CPD economist said Bangladesh needs reimaging its own policies, strategies and options during this journey. As a large neighbour, she said, India can feature prominently through extending support and cooperation in a number of areas and noted that in the last decade, there were a number of initiatives towards depending bilateral cooperation in different areas, including trade and goods, services, energy, and multimodal transport connectivity, cross-border trade, capacity building, deepening people-to-people connectivity, and also security measures. “For Bangladesh, there’re many trade-related challenges. One of the important challenges is to make greater use of Indian offer of duty- and quota-free market access. It’s still underutilised,” Fahmida said, adding that there is a huge trade gap, too. Statistics showed that trade and economic cooperation between India and Bangladesh is much lower than its full potential, she added. According to the World Bank Study, Bangladesh and India trade economic potential is almost $16 billion, but the actual trade is around $10 billion. Fahmida said the cost of trading is very high due to lack of trade facilitation and logistic shortcoming. She said the future relationship between Bangladesh and India will depend on how the challenges are addressed by both the countries.