No room for back step from LDC-graduation

Despite various challenges, Bangladesh will not try to delay its graduation from the Least Developed Country (LDC) category, which is set to finalise in November 2026.

A senior policymaker of the country asserted this at a discussion in Dhaka on Thursday.

“We will not backstep, we will continue to move ahead,” said Dr Mashiur Rahman, economic affairs adviser to the Prime Minister. “Instead we will put more effort into preparing ourselves for the post-graduate period, which is a new dimension for us,” he added.

“Seeking a time extension for the graduation means a defeat for us,” he continued. “So, the nation will move ahead, and the world will see that we value our words.”

The PM adviser, however, acknowledged that the country should start to make adequate preparations for the post-graduate period earlier. “We have already wasted some time, now we need to work hard to offset the loss.”

Dr Mashiur Rahman was talking as the chief guest of a knowledge-sharing session on ‘13th Ministerial Conference of the WTO: What Stakes for Bangladesh?’ in Dhaka. Research and Policy Integration for Development (RAPID) organised the event.

Moderated by Dr M A Razzaque, chairman of RAPID, Dr M Abu Eusuf, a professor of Dhaka University and RAPID executive director, delivered the welcome remarks.

Dr Mostafa Abid Khan, a former member of Bangladesh Trade and Tariff Commission (BTTC), made the key note presentation.

Ms Sharifa Khan, a former senior secretary of Economic Relations Division (ERD) under the Ministry of Finance, attended the session as a guest of honour. Professor Mustafizur Rahman, Distinguished Fellow of Centre for Policy Dialogue (CPD) was special guest of the session.

The guests and speakers said that the significance of the MC13 in shaping the future of multilateral trade policies and agreements cannot be overstated against the backdrop of diminishing global trade growth and rising geopolitical tensions.

They also said that critical negotiation areas, like the e-commerce moratorium, fisheries subsidies, agriculture and food security, WTO reform, and post-graduation support measures for LDCs, have potential impacts on Bangladesh.

The keynote presenter and experts also pointed out that the WTO General Council has adopted a decision on extended transition periods for duty-free market access and the TRIPS waiver, these are not obligatory, and so Bangladesh needs to work hard to obtain binding commitments so that graduating LDCs continue to benefit from essential trade concessions as they adapt to their new economic status.

Shawkat Hossain Masum, head of online of Prothom Alo, and Asjadul Kibira, planning editor of The Financial Express, were designated discussants at the session.

The MC13 will take place in the last week of this month, February 26-29, in Abu Dhabi, United Arab Emirates (UAE).

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