Keeping in perspective the fallouts of the COVID-19 pandemic on the economy, Bangladesh will seek to retain market access and the zero-duty benefit for 5 years post its graduation to a developing nation from the current LDC (least developed country) status.
According to media reports, Bangladesh would place this proposal at the meeting of the United Nations panel, the Committee for Development Policy (CDP), which analyses status of LDCs in its triennial reviews and accordingly make recommendations for countries’ graduation.
Led by Chief Coordinator for Sustainable Development Goals (SDG) Affairs Zuena Aziz, a 14-member team would, reportedly, submit Bangladesh’s action plans for tackling the challenges in international trade, commerce and cooperation following the LDC graduation.
It may be mentioned here that as an LDC, Bangladesh currently enjoying trade privileges, development financing (that includes official development assistance, technical assistance) and other forms of support but once recognised by the United Nations Economic and Social Council (ECOSOC) as a developing nation, Bangladesh would get 3 more years as ‘grace period’ for preparation, after which it would cease to enjoy such benefits.
The LDC graduation, experts maintain, would have adverse implications on its exports, especially readymade garments (Bangladesh’s principal exportable product), as the country would cease to enjoy the trade privileges.
Bharat Tex Special Report 2026 
