Commerce ministry monitors economic impact of Omicron: Official

As a precautionary measure against the spread of Covid-19 new variant Omicron, Bangladesh has suspended commerce and ceased export of manpower to the African continent, a commerce ministry official said.

The variant has already infected people in 30 countries, including Germany, Belgium and Austria.

The commerce ministry official said Bangladesh is closely monitoring the situation while adopting steps to mitigate any negative impact on Bangladesh’s economy.

The spread of Omicron, especially in Europe, is feared to pose a threat to Bangladesh’s merchandise shipment to Europe.

Bangladesh has trade ties with South Africa where Omicron first appeared. This country also send out-bound workers there.

The commerce ministry official said exporters are worrying over the developments in Europe and elsewhere over Omicron.

Recently Omicron variant was also detected in Belgium, Botswana, Israel, Hong Kong and neighbouring India.

A number of high profile trade conferences have been canceled due to emergence of the Covid-19 new variant. The 12th ministerial meeting of the World Trade Organization has been suspended while leaders are thinking what to do with the World Economic Forum conference to be held in the beginning of the New Year.

In this situation, Bangladeshi traders, industrialists, domestic and foreign investors have been watching situation warily.

Md. Hafizur Rahman, Director General of the World Trade Organization (WTO) Cell of the Ministry of Commerce, told Business Insider Bangladesh on Sunday that situation has been a new concern for the country’s business and trade circles.

He said his ministry may convene a meeting next week to discuss next course of action for the trading community of the country.

“As the economy has been returning to normalcy, the new variant surfaced making the situation difficult for Bangladesh,” said Dr AB Mirza Azizul Islam, a former finance adviser to the caretaker government.