Consumers may experience the good news of falling the prices for edible oil in the domestic market within a day or two as the prices of cooking oil are declining in the international markets.
Senior Secretary of the Ministry of Commerce Tapan Kanti Ghosh on Sunday (June 26) remarked while addressing a press conference at his secretariat office in the capital.
The Commerce Secretary, however, did not exactly say how much the price of the edible oil can be reduced as the Bangladesh Trade and Tariff Commission has been working on it.
"We are working to adjust the price fall of edible oil in the local markets," he added.
The Ministry of Commerce held the press conference to brief the journalists on the recently concluded 12th Ministerial Conference of the World Trade Organization (WTO) in Geneva.
In absence of Commerce Minister Tipu Munshi, who has been infected with COVID-19 for the second time, Tapan briefed reporters at the press conference.
The Senior Commerce Secretary said an opportunity has been created for Bangladesh for extension of Least Developed Countries (LDCs) trade benefit after the graduation to a developing country in 2026.
The WTO members agreed to extend the trade facility to the graduating LDCs in the WTO Ministerial Conference in Geneva.
However, further negotiation is needed for achieving the LDC trade extension after the graduation.
It is expected that the decision of the LDC trade extension for the graduating LDCs may come in the next WTO Ministerial Conference to be held in December next year.
BDST: 1729 HRS, JUNE 26, 2022