Bangladesh
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Report by the WTO Secretariat
The Bangladesh economy emerged relatively unscathed from the global economic crisis though the country remains vulnerable because its exports are not diversified and it depends heavily on migrant workers’ remittances. Although the economy has become increasingly open in recent years total merchandise exports have remained limited averaging 18% of GDP since 2006. Exports remain highly concentrated both in terms of products and destinations which carries some risk with readymade-garment (RMG) exports to the EU and the U.S. the current mainstay. However as a reputable low-cost producer of garments Bangladesh has gained global market share in recent years. This trend is expected to continue over the medium term which could partially mitigate the impact of slow growth in advanced economies.
Concluding Remarks by the Chairperson of the Trade Policy Review Body, H.E. Mr. Eduardo Muñoz Gómez at the Trade Policy Review of Bangladesh 15 & 17 October 2012
The fourth Trade Policy Review of Bangladesh has considerably improved our understanding of Bangladesh’s trade and trade-related policies and practices and how they have evolved since 2006. We are grateful for the active participation of the Bangladesh delegation headed by H.E. Mr Md. Ghulam Hussain and the discussant Ambassador Faizel Ismail for his insightful remarks. I would also like to thank Members of the TPRB for contributing to the meeting’s useful exchange of views. Bangladesh’s response to the large number of questions is also much appreciated.