Bangladesh’s Commerce Ministry is likely to place a proposal in this regard at the Cabinet Committee’s meeting today
A number of 10 different service providers of Bangladesh will soon launch offices in eight SAARC countries under the Agreement on Trade in Services between the member nations.
Bangladesh’s Commerce Ministry is likely to place a proposal in this regard at the Cabinet Committee’s meeting today in Dhaka for approval, said official sources.
“The Cabinet Division already informed us that the proposal would be placed for cabinet committee’s approval on Monday (today) along with another proposal of commerce ministry to approve the Direct Sale Act 2013,” Commerce Secretary Mahbub Ahmed told the Dhaka Tribune Sunday.
The ministry sources said the 10 service sectors include accounting and auditing, maritime ,management consultancy, financing, computer and software, education, audio-video , construction consultancy, data or technical testing and couriers.
In its proposal, the commerce ministry has prophesied the opening of service offices will boost investment among the members of the South Asian Association for Regional Cooperation (SAARC).
As per Article 3 of the SAARC Agreement on Trade in Services, Pakistan, India and Bhutan have submitted a final list of service sectors to the SAARC Secretariat for opening offices.
At the today’s meeting, the Direct Sale Act may also be approved, which sets punishment for violation at five years of imprisonment and a fine of Tk5m.
The law also bans trading of 21 items of product of the Multi-Level Marketing (MLM) companies.
Only the trading of electronic products, home appliances, tele-marketing, telecommunication, agricultural products, cosmetics, toiletries and arrangement of training and providing services will be allowed.
As per the law, there will be an authority to license and regulate MLM businesses in the country.
“All kinds of measure will be taken to ensure enforcement of the law,” said Commerce Secretary Mahbub Ahmed.
Source: Dhaka Tribune
