Navigating Global Trade Rules: The Impact of WTO Frameworks on Bangladesh’s Shipbuilding Industry

The shipbuilding industry of Bangladesh has grown as a promising sector for export diversification, employment generation and nation building industry. Currently the export revenues are over $100 million per year and are expanding the market globally including the European markets. However, areas such as the absence of automation manufacturing technologies like robotics welding and Computer Aided Design (CAD), and low levels of compliance with global environmental standards remain a weakness afflicting the competitiveness of the firm. These becomes even more important when Bangladesh is graduating from LDC, which means it will have to follow more stringent standard in trade. This paper has analyzed the strengths, weaknesses, opportunities of this sector within the WTO regulations. Some of the issues related to outdated technology, and low infrastructural facilities, and lack of conformity to environmental and safety issues such as green shipbuilding. These have locked Bangladesh out from striking such eco-sensitive markets such as the EU and deepened its rivalry with global competitors such as China, South Korea and Japan. But there is potential for creating, for example, small or environmentally friendly boats, as more and more of them are ordered throughout the world. Some of the tactical measures include signing more Free Trade Agreements (FTAs), investing in Technology, Public/ Private Partnership and fostering skill development. The study pointed out that in order to synchronize national strategies with international trade policies, it is needed to carry out the following activities: Efficiency of export formalities, Multilateralism, and International Trade Transparency and TBT, ECO and Intellectual Property Rights. This paper identifies these areas, which addressed through the WTO framework, can help Bangladesh to overcome challenges to its shipbuilding industry and compete effectively in the global market. This paper stresses the implementation of the technology agenda, promotion of environment benchmarks, and building sound policy framework as the ways that will allow the realization of growth potential in the sector.