Bangladesh development strategies The Planning Commission of Bangladesh is in general entrusted to prepare medium and long-term plans. Over the forty years, six five-year plans, one two-year interim plan and three Poverty Reduction Strategy Papers (PRSPs) have been formulated. Further, in combination with national development plans and strategies, a wide range of policies such as Industrial Policy, Export Policy, Import Policy, population policy, energy policy and foreign employment policy are devised by respective ministries of the government. The Fourth Five-Year Plan (1991-95) for the first time underlined the need for export-led growth probably because of the era of fastest trade liberalisation. The subsequent Sixth Five-Year Plan underline the private sector-dominating growth strategy. The first National Strategy for Accelerated Poverty Reduction (2005-2008) recognises the route to employment as multifaceted. Perhaps, the Sixth Five-Year Plan (SFYP) can be best characterised by its focus on accelerating economic growth and employment. To increase the export potential as well as to diversify the export base, the sixth plan will seek to further reduce trade barriers within the context of the World Trade Organisation (WTO) framework as well as seek more active cooperation with neighbours. A review of development strategies suggests the nexus of trade and employment is more or less restricted to only manufacturing sector. Export-oriented manufacturing sector in recent years underwent massive growth and is set to employ a huge labour force if backward linkages could be developed. More plainly, the future of Bangladesh economy lies in trade-driven growth of industrial/manufacturing sector.
Posted on: Sun, 21 Jul 2013 10:39:07 +0000
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