WB call
I find the news article "WB calls for wholesale trade liberalisation, (11th March)" very much interesting. I support the carefully selected spectral liberalisation. The liberalisation should be reciprocal and not blanket. The basis of reciprocity also should be measured relatively, not flatly. For example, if a supplier country already has a huge trade balance with Bangladesh, as far as the particular supplier country is concerned the terms of trade is already liberal to the favour of the net-exporter-country (NEC). No further liberalisation is warranted to the favour of NEC. Again let's say a net-exporter-country relative to Bangladesh is now paying $100m as duties and taxes, the so-called barriers. Bangladesh can afford to forego this $100m in duties and taxes provided that the NEC lift all forms of barriers and discrimination to the recruitment of Bangladeshi manpower (both skilled and apprentices) in the process of manufacturing to export giving $100m in terms of fair share service income from the NEC. In other words, $100m duties and taxes would eventually be paid in the form of salaries and wages, and corporate taxes to either Bangladeshis or to Bangladesh.
Second example: Let's say in RMG 70% value is imported adding 30% value Bangladesh can export total 100% of the value to take its 30% share returning 70% to the supplying country (SC). Of course in the perspective of management accounting the decision would be to the favour of liberalisation of import of the items constituting the 70% imported value.
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