The United Nations Committee for Development Policy or UNCDP has recommended Bangladesh’s graduation in its final evaluation held recently, thanks to which, Bangladesh is now qualified to graduate into a developing nation from a least developed country (LDC).
As per media reports, subsequent to UNCDP recommending that the country (Bangladesh) should get five years, instead of three, to prepare for the transition due to the impact of the coronavirus on its economy — the recommendations will be sent to the United Nations Economic and Social Council (ECOSOC) for endorsement in June and the UN General Assembly is scheduled to approve the proposal in September — Bangladesh is scheduled to officially become a developing country in 2026; however, till then, the country will continue to enjoy the trade benefits as an LDC.
It may be mentioned here that the chair of the Committee for Development Policy (CDP) subgroup on LDCs, Taffere Tesfachew, shared the decision of recommendation at a briefing, after the second triennial review of the LDC category of UNCDP at the end of the five-day review meeting that began on 22 February 2021 at the UN Headquarters in New York even as Bangladesh Prime Minister Sheikh Hasina on her part has formally announced the graduation status and maintained, “This achievement is an outcome of our relentless planning, hard work and efforts over the last 12 years. The people of this country have made it possible. We have only provided the people with policy support from the Government.”
This the Prime Minister said at a virtual press conference.
The LDC graduation, according to experts, however might have some impacts on Bangladesh’s exports including apparel items as the country would be shorn of the privileges that it currently enjoys as an LDC.
Bharat Tex Special Report 2026 
