Int'l trade deals can be revised to safeguard national interest: Muktadir

Commerce Minister Khandakar Abdul Muktadir on Friday said clauses in international trade deals can be amended if they are later found to be contrary to Bangladesh's national interest during implementation.

"Bilateral agreements between sovereign states are fundamentally different from private contracts and cannot be changed or cancelled unilaterally at will. Such agreements are formed on the basis of mutual benefit and generally contain provisions that allow adjustments if necessary," he said.

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The Minister made the remarks while talking to reporters after inspecting the proposed "Zila Parishad Natural Park" project in the Baishtilla area adjacent to Sylhet Airport.

In his speech, Muktadir said that a contract between two individuals can be changed at a moment's notice, but that is not possible for two states.

"Trade agreements are established under a win-win framework where both countries are expected to benefit," he added.

However, he noted that if any provision is found to be unfavourable to Bangladesh during implementation, there are opportunities within the agreement structure to seek revisions.

Addressing concerns over inflation and fuel price adjustments, the minister said that the recent increase in domestic fuel prices remains relatively small compared to international market trends.

He described the impact on commodity prices as a one-time increase rather than a long-term inflationary spiral, expressing confidence that the situation would not become persistent.

He also warned traders against taking advantage of the fuel price adjustment to raise prices unjustifiably.

The government, he said, would take action against businesses that increase prices disproportionately to the actual rise in diesel costs or attempt to manipulate the market based on anticipated future changes.

The minister also outlined the government's economic philosophy regarding state-owned enterprises, saying the government should not remain directly involved in running commercial businesses.

"Many state-run industries suffer from inefficiency and recurring financial losses that place a burden on the public exchequer," he added.

Muktadir said the government plans to transfer loss-making mills and factories to private sector investors with the aim of revitalising industries, creating employment opportunities, improving productivity, and strengthening state revenue generation through more efficient private sector management.

During the visit, he also discussed plans to develop 43 acres of Zila Parishad land in Baishtilla into a major tourist attraction.

The minister said a comprehensive master plan has already been prepared for the proposed Natural Park project and the government will provide the required funding for its implementation.

According to the minister, the project will feature cable cars, rope bridges, and a range of recreational facilities for both children and adults.

He expressed optimism that the park would emerge as a major tourism landmark in the Sylhet region.

Sylhet Zila Parishad Administrator Abul Kaher Chowdhury Shamim, Sylhet Metropolitan BNP Acting President Rezaul Hassan Koyes Lodi, local political leaders, and officials from the administration accompanied the minister during the inspection.