Even as Bangladesh gets ready to make the most-awaited LDC transition, it is expected to have some serious ramifications in terms of export revenue loss.
Media reports underlined this even as they put the revenue loss at a massive US $ 7 billion
A report by the General Economics Division (GED), a wing of the Planning Ministry reportedly observed currently, around 75 per cent of ‘Made in Bangladesh’ products are exported under preferential market access in one way or another, which the country will lose gradually subsequent to graduating from the LDC status even if it is being assumed the readymade garment sector of the country, which currently accounts for 80 per cent of Bangladesh’s export income, will be the hardest hit by this transition as its access to the US and European Union markets will be affected.
