There is an old joke: a man arrives at a seedy motel and is offered two options. The economy room costs $10, while the premium room is $12..“What is the difference?” he asks..“The $12 room comes with a free TV,” replies the receptionist with a smile..The humour lies in the contradiction. The TV is "free" but costs more. As Bangladesh prepares free trade agreements (FTAs) with as many as two dozen countries, the joke is a timely reminder: in global commerce, there is no such thing as a free deal. The large print giveth, while the small print taketh away, as the saying goes.

Bangladesh’s cardinal lesson is to do what the US did in 1934.

Bangladesh's future trade benefits will largely depend on bilateral free trade agreements (FTA) as the country may lose duty-free facilities once it graduates to a middle-income nation in seven-eight years, analysts and businessmen yesterday said.