LDCs are countries with poverty, human resource weakness, and economic vulnerability. Which conditions and criteria are reviewed by a UN and Social Council (ECOSOC) committee every three years. In International trade LDCs get some tariff
and market access facilities.
Canada is also providing some tariff and market access facilities to the LDCs,which includes many third world countries including Bangladesh, a country in the South Asian region. Hope the following narratives will discuss about custom aspects of the
market access initiatives, which could be beneficial to exporters, importers and people handling customs related issues in Bangladesh, as well as other LDCs and other areas of the world especially related to Canada Economy.
Bangladesh can be treated as an exemplary country in the LDCs and Canada as an exemplary first world country, who provides similar (not same) facilities to the LDCs.
A Global Consensus:
There is a global consensus that economic development & growth can help to decease poverty. Starting from February, 2002, Canada government was exploring the idea to give greater access to their economy. Which would reduce poverty among the poorest countries. Promote investment and development; enhance economic development through reduced trade barriers and greater market access to Canada economy.
|Woven and Knit Export to Canada from Bangladesh
List of Least Developed Countries, which are entitled for duty free treatment in the alphabetic order:
Central African Republic
Congo, Democratic Republic of
Lao Peoples Democratic Republic
Sao Tome and Principe
Tanzania, United Republic of
Yemen Republic of
Note:Please read the second part of the article also for easy understanding.