Even as Bangladesh gets ready for the much-awaited LDC graduation that would come with its own share of challenges, the Government is reportedly planning to continue providing incentives to 12 sectors as an alternative to direct cash support on export receipts.
This is as per media reports, which underlined among the major sectors to receive the incentive are readymade garments, leather and leather products, non-leather footwear, pharmaceutical ingredient, etc.
Reports further added, graduating countries provide incentives to exporters as an alternative so as to help them maintain their competitiveness in the global supply chain even if under the rules of the World Trade Organisation (WTO), a graduating nation or one that has graduated from the LDC status can’t give direct incentives like cash on export receipts.
Bangladesh, which is one of the founding members of the WTO, is set to make the United Nations status graduation from a least-developed country in 2026, into a developing country.
