A big backing comes from the European Union (EU) and the Group of 77 and China (G77) to Bangladesh in its try for smooth, sustainable and irreversible graduation from the least- developed country (LDC) category with extended time.
According to a government news release issued Friday, the assurances came during separate meetings at the United Nations Headquarters between Commerce Minister Khandakar Abdul Muktadir and Head of the European Union Delegation to the United Nations Ambassador Stavros Lambrinidis, and Chair of the Group of 77 and China and Permanent Representative of Uruguay to the United Nations Ambassador Laura Dupuy Lasserre.
The minister was accompanied by State Minister for Planning Zonayed Saki, Economic Relations Division (ERD) Secretary Md Shahriar Kader Siddiky, Bangladesh Permanent Representative to the United Nations Ambassador Salahuddin Noman Chowdhury, Footwear, Leathergoods and Accessories Exporters' Association of Bangladesh (LFMEAB) President Syed Nasim Manzur and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Mahmud Hasan Khan.
During the meetings, the commerce minister explained the rationale behind Bangladesh's request for a three-year extension of the LDC-graduation-preparatory period, citing the country's ongoing economic and political transition, global economic uncertainty, energy challenges and the need to consolidate structural reforms.
He reiterated the government's commitment to strengthening governance, reforming the financial sector, improving infrastructure, enhancing domestic resource mobilisation and creating a more investment-friendly business environment.
"The additional time would help consolidate reforms, remove infrastructure bottlenecks, strengthen industrial competitiveness and ensure that Bangladesh's graduation remains smooth, sustainable and irreversible," the minister was quoted as saying.
Ambassador Lambrinidis has welcomed the government's commitment to good governance and sustainable development and expressed the EU's continued support for Bangladesh's graduation process.
He also welcomed the launch of discussions on a Bangladesh-European Union Free-Trade Agreement (FTA) and stressed the importance of stronger public-private cooperation to facilitate the transition, according to the press release.
Meanwhile, Ambassador Lasserre acknowledged the strength of Bangladesh's case for extending the preparatory period and praised the government's pragmatic reform agenda.
She reaffirmed the G77's support for Bangladesh and proposed a dedicated briefing for G77 member- states on the country's graduation strategy, a proposal welcomed by the Bangladesh delegation.
Following the meetings, the ERD Secretary, Shahriar Kader Siddiky, described the discussions with the EU delegation as "productive", saying that the bloc reiterated its continued support for Bangladesh's smooth, sustainable and irreversible graduation from the world's poor-country club.
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