There is an ongoing debate pertaining to the potential impacts of globalization on the economies of developing countries. In view of the challenges and opportunities that inform this process, there is hardly any consensus as regards its overall ramifications, and perhaps the jury is still out. However, there is also no denying the fact that there is a need for greater understanding and insights with respect to the multidimensional implications of globalization for the process of development in developing countries.
This discourse has assumed heightened importance for Bangladesh in the context of the increasing global integration of the country’s economy in recent years. The economy of Bangladesh is passing through a period of close interface with the global economy, by way of global integration of both goods and factor markets. The increasing degree of openness of the economy has confronted the country with formidable challenges; at the same time the country is poised to taka advantage of emerging opportunities of the global market place. It is of critical importance for Bangladesh’s future development to have an indepth understanding as regards their implications. The present volume was conceived to discuss and analyse some of the key issues in this context.
The volume is a compendium of eight articles that reflects the dynamics of Bangladesh’s external sector as it strives to address the demands of an increasingly competitive global market. The volume brings together a number of recent writings on related themes by professionals at the Centre for Policy Dialogue (CPD). Prepared as part of CPD’S Trade Policy Research programme, these articles remain current and relevant in the present context of Bangladesh. They focus on both challenges and coping strategies of Bangladesh in relation to systemic, institutional and sectoral issues.
The articles deal with sectoral issues such as impact of liberalisation on Bangladesh’s agricultural sector, environmental consequences of export promotion, development of fisheries sector and the issue of child labour in apparels. In view of the crucial role that the apparel sector plays in Bangladesh economy, the article on Post-MFA challenges addresses a number of key issues in the context of the phase-out of the MFA quotas. The article on EPZ addresses some important issues relating to institutional and social aspects of export promotion in the country. The last two contributions of the volume review recent developments in multilateral trade negotiations including the implications of failure of Cancum Ministerial Meeting of the WTO, and the lessons that Bangladesh should draw in this respect.
It is hoped that the Present volume will be useful in providing valuable insights on some of the key aspects of globalisation from Bangladesh perspective. Specialists and academics, development practitioners and those with interest in Bangladesh’s development prospect in view of ongoing globalisation will hopefully benefit from this volume.
