Play store
Bangladesh has sought stronger international support for a three-year extension to its preparatory period for graduation from the Least Developed Country (LDC) category, saying the additional time is essential for ensuring a smooth and sustainable transition.
Commerce Minister Khandakar Abdul Muktadir made the appeal during separate bilateral meetings with President and Vice-President of the United Nations Economic and Social Council (ECOSOC) at the UN Headquarters, according to a commerce ministry press release.
In his meetings with ECOSOC President and Nepal’s Permanent Representative Ambassador Lok Bahadur Thapa and ECOSOC Vice-President and Algeria’s Permanent Representative Ambassador Amar Bendjama, the minister explained the rationale behind Bangladesh’s request.
Muktadir said Bangladesh had been unable to fully utilise the originally scheduled preparatory period because of ongoing economic and political transition, global economic uncertainty, the energy crisis, supply chain disruptions, the growing impacts of climate change and other external challenges.
He reaffirmed Bangladesh’s commitment to graduating from the LDC category, stressing that the request was not intended to delay the process but to ensure a smoother, more sustainable and resilient transition.
According to the minister, the proposed three-year extension would allow Bangladesh to consolidate structural reforms, strengthen governance, restore macroeconomic stability, reinforce the financial sector, improve the investment climate, upgrade infrastructure and effectively implement its Smooth Transition Strategy.
The Bangladesh delegation included Prime Minister’s Adviser on Finance and Planning Dr Rashed Al Mahmud Titumir, State Minister for Planning Zonaed Abdur Rahim Saki, Economic Relations Division Secretary Md Shahriar Kader Siddiky, Bangladesh’s Permanent Representative to the United Nations Ambassador Salahuddin Noman Chowdhury, Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) President Syed Nasim Manzur, and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Mahmud Hasan Khan.
The ECOSOC president and vice-president acknowledged the global challenges facing developing countries in graduating from the LDC category and expressed their commitment to working closely with Bangladesh to ensure a smooth, sustainable and stable transition.
