Close on heels of the United Nations Committee for Development Policy or UNCDP recommending Bangladesh’s graduation from the LDC grouping, experts have called for formulating a comprehensive policy in tandem with intensive preparation to overcome the challenges that might present on transiting to the big league of developing nations from the current LDC status.

As per reports, experts came up with the observations while taking part at a dialogue organised by the Centre for Policy Dialogue (CPD) on ‘Moving Out from the LDC Group: Strategies for Graduation with Momentum’, on 4 March, in capital Dhaka.

Presenting the keynote paper on the occasion, CPD distinguished fellow Mustafizur Rahman, reportedly, underlined that addressing the graduation-related challenges on the global, domestic and regional fronts was a must for sustainable graduation with momentum even as he underlined the country (Bangladesh) needs to lessen the cost of doing business to be more competitive globally in the post-LDC era as Bangladesh will face duties on exports because of the erosion of trade privileges.

Local businessmen will have to be facilitated by offsetting costs in the domestic markets, reportedly, maintained Mustafizur while adding that it would help them to remain competitive globally.